WELL Health Technologies Corp. (TSX:WELL) entered into a share purchase agreement to acquire Adracare Inc. for CAD 4.8 million on December 16, 2020. The purchase price is subject to adjustments and holdbacks. Olivier Giner, Chief Executive Officer of Adracare, and the rest of the Adracare team will join WELL. Post-closing, Adracare is expected to be operated by its current Chief Executive Officer, Olivier Giner. The closing of the acquisition is subject to number of conditions and is expected to be completed by early first quarter 2021. Upon closing, the transaction is expected to be immediately accretive to WELL as it is expected to generate
annualized revenue of close to CAD 2 million and be profitable on an EBITDA basis. Ryan Farkas, Pras Kayilasanathan, Kiefer Weir, Jason Carbell of BDO acted as exclusive financial advisor to Adracare Inc in the transaction.

WELL Health Technologies Corp. (TSX:WELL) completed the acquisition of Adracare Inc. on January 1, 2021.