TELUS completes acquisition of LifeWorks

VANCOUVER and TORONTO – TELUS Corporation has announced the completion of the previously disclosed $2.3 billion acquisition of LifeWorks Inc., a world leader in providing digital and in-person solutions that support the total wellbeing of individuals – mental, physical, financial and social.

TELUS Health is now positioned to support corporate clients across more than 160 countries and covering more than 50 million lives and growing worldwide.

“Today marks another exciting step in our TELUS Health journey, as we welcome the talented LifeWorks team, and the 36 million employees and family members of our business customers who they support, into our TELUS Health family,” said Darren Entwistle (pictured), president and CEO of TELUS.

“As one of the largest health technology companies globally, our newly expanded TELUS Health organisation will provide employers across the globe with world-leading digital health and wellness solutions for their employees that are convenient, innovative and highly effective. Indeed, through the skill of our combined 10,000 team members and 30,000 independent health practitioners, and leveraging the combination of TELUS’ strong digital and data analytics capabilities with our client service excellence, we will dramatically improve remedial, preventative and mental health outcomes. In turn, this will support the well-being of over 50 million individuals and growing around the world.”

Benefits of the transaction:

• Establishes a compelling offering for employers to provide the best wellness experience for their employees in order to enhance talent acquisition and retention, while improving their business performance
• Provides complementary end-to-end solutions supported by TELUS’ robust infrastructure of leading networks and best-in-class customer experience, including TELUS International’s proven expertise in digital transformation and client service excellence
• Creates a global digital health and wellness leader, providing access to high quality, proactive healthcare and mental wellness for employees by unifying digital-first solutions across the care continuum
• Enables continued innovation and market share growth through the solid financial backing of TELUS, along with significant cross selling synergies between our respective organizations, including TELUS International

TELUS Health’s chief operating officer, Michael Dingle, will oversee the transition and lead the integration of LifeWorks into the TELUS Health family. Michael’s deep industry expertise and proven track record of creating team, client and shareholder value will ensure the smooth transition of LifeWorks team members and clients.

“TELUS Health and LifeWorks will work closely together to define the strategy and plan to thoughtfully integrate the teams with minimal disruption to internal and external stakeholders,” said Michael Dingle. “We are excited to come together as one team as we begin this journey to raise the bar on employee health and wellness for organizations around the world.”

With the completion of the transaction, LifeWorks has become a wholly owned subsidiary of TELUS, and will continue to execute on its growth strategy, amplified by TELUS Health’s existing suite of advanced digital health technologies. LifeWorks brings world leading digital and in-person solutions that support the total wellbeing of individuals – mental, physical, financial and social. Also a trusted leader in mental health and wellbeing, LifeWorks delivers a personalized continuum of care that helps clients improve the lives of their people and by doing so, improves their business.

“We are excited to be joining the TELUS Health team to further advance our market-leading health and wellness offerings on a global scale to better serve our clients and their people,” said Stephen Liptrap, president and CEO of LifeWorks. “Combining our international client relationships with TELUS’ proven expertise in digital transformation and service excellence will unlock significant cross-selling opportunities and deliver value to all stakeholders.”