WELL Health Technologies Corp. (TSX:WELL) entered into an agreement to acquire Significant Portion of Clinical Assets of MCI Medical clinics Inc. for CAD 1.5 million on July 19, 2023. The acquisition brings more than 130 physicians to the WELL family, adding to over 3,000 providers in WELL's patient services business units across North America.

The MCI clinics will be integrated with WELL's Ontario based clinic chain which is the largest owned and operated network of clinics in the province. WELL is also advancing a short-term bridge loan to MCI designed to ensure the company has the required resources to operate until the various transactions close. Once the Transaction closes, WELL will also have representation on MCI's board of directors.

It is anticipated that closing shall occur on or around October 1, 2023. Eight Capital acted as financial advisor to WELL Health in connection with the Transaction, and Clark Wilson acted as WELL Health's legal counsel. Owens, Wright LLP served as legal advisor to MCI Medical Clinics Inc.