VANCOUVER, BC and TORONTO, Nov. 4, 2024 /PRNewswire/ -- WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a digital healthcare company focused on improving health outcomes through technology and empowering healthcare providers globally, is pleased to announce that it has entered into definitive agreements for the acquisition of the Canadian clinical assets of Jack Nathan Medical Corp. (TSXV: JNH) ("Jack Nathan"). This acquisition includes both a network of 16 owned and operated primary care clinics across 13 Canadian cities and a clinic licensing business with 62 licensee clinics, which will become the model for WELL's new Affiliate Clinic business stream. The 16 owned and operated clinics generated over $10 million in revenue in the past 12 months, while the licensing business generated over $2.2 million in annual revenue. On closing of the Transaction, WELL will acquire Jack Nathan's rights to operate medical clinics in Walmart Canada stores, creating a platform to grow primary care operations at Walmart with the goal of expanding WELL's owned and operated network and affiliate managed clinics within Walmart Canada's footprint of over 400 Canadian locations.
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