Well Health Announces The Acquisition Of Careplus Management And Increases Annual Revenue Guidance
Jul 13, 2023•over 2 years ago
Acquiring Company
WELL Health Technologies
Acquired Company
CarePlus Management
Description
WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the "Company" or "WELL") — a practitioner focused digital health company that is positively impacting health outcomes by tech-enabling healthcare providers and their patients globally, is pleased to announce its wholly owned subsidiary, CRH Medical ("CRH"), has completed the acquisition of CarePlus Management ("CarePlus") (the "Transaction"). In conjunction with this Transaction, WELL increases its annual revenue guidance for 2023 to be between $740 million and $760 million and re-iterates its annual Adjusted EBITDA guidance to exceed 10% annual growth.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed