HEALWELL and WELL Health Announce Competition Bureau has Concluded Its Merger Review and Issued a No Action Letter
The No Action Letter covers the completed controlling-interest transaction, including HEALWELL’s concurrent acquisition of Orion Health.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
HEALWELL AI (HWAIF) announced that the Competition Bureau concluded its review of WELL Health Technologies’ acquisition of a majority interest in HEALWELL. The Commissioner of Competition issued a No Action Letter on October 22, 2026. It confirms that the Commissioner does not, at this time, intend to apply under section 92 of the Competition Act regarding the transaction.
WELL’s acquisition of a controlling interest in HEALWELL was completed on April 1, 2025, alongside HEALWELL’s acquisition of Orion Health. Both acquisitions were included in the transaction reviewed. In December 2025, the Bureau announced that it had obtained a Federal Court order requiring records and information relating to the transaction. HEALWELL and WELL cooperated throughout the review and supplied the requested materials.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointCompetition Bureau review concluded with a No Action Letter; the Commissioner does not currently intend to challenge the transaction.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - October 28, 2026) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial intelligence company focused on preventative care, and WELL Health Technologies Corp. (TSX: WELL) ("WELL"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, today announced that the Commissioner of Competition has concluded the Competition Bureau's review of WELL's acquisition of a majority interest in HEALWELL and has issued a No Action Letter.
The No Action Letter, issued on October 22, 2026, confirms that the Commissioner does not, at this time, intend to make an application under section 92 of the Competition Act in respect of WELL's acquisition of a controlling interest in HEALWELL completed on April 1, 2025, including HEALWELL's concurrent acquisition of Orion Health (the "Transaction").
In December 2025, the Bureau announced that it had obtained a Federal Court order for the production of records and information relating to the Transaction. HEALWELL and WELL cooperated with the Bureau throughout its review and produced the records and information requested.
Hamed Shahbazi, Chairman of HEALWELL, commented, "We are pleased that the Competition Bureau has concluded its review and issued a No Action Letter regarding WELL's acquisition of HEALWELL. We appreciate the Bureau's engagement throughout the process and remain focused on executing our strategy and delivering value to healthcare practitioners, patients and shareholders."
James Lee
Chief Executive Officer
HEALWELL AI Inc.
About HEALWELL AI
HEALWELL AI is a healthcare artificial intelligence company focused on preventative care. Its mission is to improve health outcomes with better care and technology. HEALWELL is executing its strategy by developing and acquiring technology and clinical science capabilities that complement its business of preventative care, including data science, AI-powered patient identification, and clinical decision support. HEALWELL is publicly traded on the Toronto Stock Exchange under the symbol "AIDX" and on the OTC Exchange under the symbol "HWAIF". Learn more at www.healwell.ai.
About WELL Health Technologies Corp.
WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) is Canada's largest outpatient healthcare company and a leading provider of technology-enabled healthcare solutions. WELL is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI, and every piece of health data is protected. WELL owns and operates 275 clinics in Canada, supporting more than 5 million annual patient visits. Through its subsidiary WELLSTAR, WELL provides electronic medical records, AI-powered clinical tools, patient engagement platforms and IT management services. WELL provides cybersecurity services through its CYBERWELL subsidiary. WELL is publicly traded on the TSX under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF". To learn more, please visit: www.well.company.
For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321396
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the No Action Letter mean for HEALWELL and WELL’s acquisition?
The October 22, 2026 No Action Letter confirms that the Commissioner does not, at this time, intend to apply under section 92 of the Competition Act regarding WELL’s acquisition of control of HEALWELL. The transaction, completed on April 1, 2025, included HEALWELL’s concurrent acquisition of Orion Health.