WELL Health acquires Trinity Healthcare
December 4, 2019
VANCOUVER – WELL Health Technologies Corp., a company focused on consolidating and modernizing clinical and digital assets within the primary healthcare sector, is pleased to announce it is acquiring Oscarservice Inc. dba Trinity Healthcare Technologies (“THT”).
The total consideration payable by WELL in connection with the acquisition of THT is approximately $7.225 million, consisting of cash and shares of WELL.
“We are excited to welcome the talented team at THT to the WELL Family. As Canada’s second largest OSCAR service provider, THT will be a key asset in our consolidation of the OSCAR EMR marketplace and substantially increases our footprint in Ontario with over 500 clinics in its service portfolio,” said Hamed Shahbazi (pictured), chairman and CEO of WELL.
“THT is our fifth planned acquisition in Canada’s OSCAR EMR marketplace and further solidifies our position as the third largest EMR service provider in Canada supporting over 8,000 healthcare practitioners and their operations.”
THT, founded in 2007, is a provider of OSCAR based EMR software and services and is based in Mississauga, Ontario. THT is a leading clinical software and solution provider focused on digitizing the communication and workflow between a physician’s office and the rest of the healthcare system.
Beside general EMR supporting primary care, THT has also demonstrated strong success in providing EMR services to specialists in areas of Ophthalmology and Fertility. THT’s success in supporting such specialists is due to its innovative approach in providing deep customizations that improve clinic workflow and efficiency.
“We are delighted with the opportunity to join the WELL EMR Group, who has very quickly become the largest OSCAR EMR vendor in Canada,” said Toby Bian, CEO of THT. “WELL’s vision, growth strategy and professional team appealed to us and we believe our physician and clinic customers will benefit from their focus on empowering doctors and patients with advanced digital health solutions”.
In the last twelve months, THT has generated more than $2 million in revenues. THT has more than 2,280 physicians and healthcare practitioners using its solutions.
With the previously announced acquisition of OSCARwest and the proposed acquisition of THT, WELL is expecting it will increase its EMR business to approximately 1,446 healthcare clinics servicing over 8,280 physicians and healthcare practitioners across Canada.
WELL is a unique company that operates Primary Healthcare Centres as well as a significant Electronic Medical Records (EMR) business that supports the digitization of such clinics. WELL wholly owns and operates nineteen medical clinics, is a majority owner of SleepWorks Medical and provides digital EMR software and services to approximately 852 medical clinics across Canada. WELL’s overarching objective is to empower doctors to provide the best and most advanced care possible leveraging the latest trends in digital health.