Easy Allied Health (or "Easy Allied") is comprised of a network of health experts focused on the fields of Physiotherapy, Occupational Therapy, Kinesiology, and Clinical Counselling. Easy Allied's mission is to provide a team of integrated health professionals to support the community in the most convenient way for clients to regain and maintain independence and manage pain.- Easy Allied currently has a staff of 17 service providers that assist the community in distinct ways including in-clinic environments, via mobile services providing in-residence care and by providing care to independent and long-term care homes.
- This transaction will be immediately accretive to
WELL Health . Easy Allied's current Annual RevenueRun Rate (1) is approximately$1M with operating EBITDA(2) margins that are greater than 35%. - Easy Allied is already a strategic partner in WELL's clinical ecosystem helping WELL physicians successfully deliver valuable integrated care services. The parties plan to leverage WELL's digital technologies to offer allied health practitioners and patients with best-in-class telehealth services.
"We're thrilled to welcome Armin Ghayyur, and the rest of the Easy Allied team to the WELL family," said
Under the terms of the Agreement, the total consideration payable by WELL in connection with the Transaction is
Easy Allied's current Annual Revenue
"As a Physiotherapist who is committed to improving my profession, I can see how partnerships such as
Closing of the Transaction is subject to a number of conditions. All shares to be issued in the Transaction will be subject to approval of the TSX and issued pursuant to an exemption from applicable securities laws.
- Annual Revenue
Run Rate figures are calculated based on annualizing the average of the last 3 months of revenues of available results. - Unaudited EBITDA is a Non-GAAP measure. Earnings before interest, taxes, depreciation and amortization ("EBITDA") should not be construed as alternatives to net income/loss determined in accordance with IFRS. EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company believes that EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives.
Per: "Hamed Shahbazi"
Chief Executive Officer, Chairman and Director
About
About WELL
WELL is an omni-channel digital health company whose overarching objective is to empower doctors to provide the best and most advanced care possible while leveraging the latest trends in digital health. As such, WELL owns and operates 20 primary healthcare clinics, is
Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: the closing of the Transaction; the Company obtaining all consents and TSX approval in order to close; and the expectation of Easy Allied being immediately accretive to WELL. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. WELL's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Transaction, including: that WELL's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions; risks inherent in the primary healthcare sector in general; the inability of WELL to complete the Transaction and related transactions at all or on the terms announced; the TSX not approving the shares to be issued in Transaction; risks relating to the satisfaction of the conditions to closing the Transaction; that future results may vary from historical results; and that market competition may affect the outcome of the Transaction and the business, results and financial condition of WELL following the closing of the Transaction. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the
SOURCE
© Canada Newswire, source