WELL Health and HEALWELL Announce Competition Bureau Has Concluded Its Merger Review and Issued a No Action Letter
The No Action Letter covers the completed transaction, including HEALWELL's concurrent acquisition of Orion Health.
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Rhea-AI Summary
WELL Health Technologies (WHTCF) and HEALWELL AI announced that the Competition Bureau concluded its review of WELL's controlling-interest acquisition of HEALWELL.
The No Action Letter, issued October 22, 2026, confirms that the Commissioner of Competition does not, at this time, intend to apply under section 92 of the Competition Act regarding the transaction. WELL completed its acquisition on April 1, 2025; the transaction also included HEALWELL's concurrent acquisition of Orion Health.
In December 2025, the Bureau announced that it had obtained a Federal Court order requiring records and information relating to the transaction. WELL and HEALWELL cooperated throughout the review and supplied the requested material.
Positive
- Minor pointCompetition Bureau review concluded with an October 22, 2026 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.
Vancouver, British Columbia and Toronto, Ontario--(Newsfile Corp. - October 28, 2026) - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the "Company" or "WELL"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, and HEALWELL AI Inc. (TSX: AIDX) ("HEALWELL"), a healthcare artificial intelligence company focused on preventative care, 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. WELL and HEALWELL cooperated with the Bureau throughout its review and produced the records and information requested.
Hamed Shahbazi, Founder, Chairman and CEO of WELL, commented, "We are pleased that the Competition Bureau has concluded its review and issued a No Action Letter regarding our 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."
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Founder, Chairman, and Chief Executive Officer
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.
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.
For further information:
Pardeep Sangha
Vice President Investor Relations, WELL Health Technologies
investor@well.company
604-628-7266
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321395
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Competition Bureau's No Action Letter mean for WELL Health's HEALWELL acquisition?
The No Action Letter confirms that the Commissioner does not, at this time, intend to make an application under section 92 of the Competition Act regarding the transaction. It covers WELL's controlling-interest acquisition of HEALWELL, completed April 1, 2025, including HEALWELL's concurrent acquisition of Orion Health.