WELL Health Technologies Corp. is set to expand its Canadian clinic network with the acquisition of 10 primary care medical clinics operated by Shoppers Drug Mart Inc. The clinics, operating under the name “The Health Clinic by ShoppersTM,” are located in Ontario and British Columbia and boast a team of over 35 physicians.
The agreement between WELL and Shoppers will see the clinics rebranded under the WELL Clinic brand, further solidifying WELL’s presence in the primary care sector. Dr. Michael Frankel, Chief Medical Officer and President of Canadian Clinics for WELL Health, expressed excitement about welcoming the clinical and medical teams from “The Health Clinic by ShoppersTM” into the WELL primary care family.
WELL plans to onboard the 10 clinics through its Clinic Absorption program and enhance operational and service capabilities through its Clinic Transformation Team. The company aims to optimize cost structures, integrate digital workflows, and implement advanced AI tools to improve patient care outcomes. Additionally, efforts will be made to recruit more physicians to join the new WELL clinics, expanding the reach and impact of the network.
With expectations of approximately $8M in annual revenue from the newly acquired assets, WELL Health Technologies Corp. continues to fulfill its mission of tech-enabling healthcare providers and positively impacting patient outcomes. The acquisition marks a significant milestone in WELL’s growth strategy and commitment to revolutionizing the healthcare industry through innovative technology and comprehensive healthcare solutions.
