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HEALWELL to Acquire Orion Health, Creating a Global Market Leader in Healthcare Data Interoperability & Artificial Intelligence, and Launches $50 Million Bought Deal Financing
HEALWELL AI has entered into an agreement to acquire 100% of the shares of Auckland, New Zealand based Orion Health Holdings Limited (“Orion Health”), a subscription license and services revenue business serving marquee public sector clients globally
TORONTO, Dec. 16, 2024 (GLOBE NEWSWIRE) -- HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX, OTCQX: HWAIF), a healthcare artificial intelligence company focused on preventative care, is pleased to announce that it has entered into an agreement to acquire 100% of the shares of Auckland, New Zealand based Orion Health Holdings Limited, a subscription license and services revenue business serving marquee public sector clients globally with data interoperability and healthcare navigation products and services after the concurrent divestiture of Orion Health’s divisions that are non-strategic to HEALWELL, for total consideration of $200m NZD or $165m CAD (the “Transaction”). The acquisition of Orion Health and concurrent divestment of non-strategic divisions will represent a transformative milestone in HEALWELL’s journey to become a global leader in healthcare technology and artificial intelligence. Orion Health is expected to generate revenue of more than $100m CAD with EBITDA2 of over $20m CAD in calendar 2025. Read More
