WELL Health Improves Guidance Based on WELL Canada Achieving $100 Million in Annualized Adjusted EBITDA Run-Rate Ahead of Schedule
Rhea-AI Summary
WELL Health (OTCQX:WHTCF, TSX:WELL) reached its $100 million annualized Adjusted EBITDA run-rate target for WELL Canada three calendar quarters earlier than planned, on about $700 million revenue, implying roughly 14% Adjusted EBITDA margin, about 180 bps above prior guidance.
On June 1, 2026, WELL closed two immediately accretive Canadian clinic acquisitions, OID Group and a 65% interest in UnionMD, for about $115 million at closing, with total consideration potentially up to $160 million. These assets produced about $22 million Adjusted EBITDA in 2025 with margins above 25%, lifting WELL Canadian Clinics to well over $80 million annualized Adjusted EBITDA and expanding the network to roughly 270 clinics and 2,350 billable providers.
Both deals were funded from cash and existing credit facilities. Based on current performance and these acquisitions, WELL now expects to exceed the top end of its prior 2026 Adjusted EBITDA guidance range of $175–$185 million and plans a formal outlook update with Q2 2026 results.
Positive
- WELL Canada reaches $100M annualized Adjusted EBITDA run-rate three quarters early
- Run-rate achieved on about $700M revenue, ~14% Adjusted EBITDA margin
- 2026 Adjusted EBITDA expected to exceed prior $175–$185M guidance range
- OID Group and UnionMD produced ~$22M Adjusted EBITDA in 2025
- Canadian Clinics network expands to ~270 clinics and ~2,350 billable providers
- Acquisitions funded with cash and existing/expanded credit facilities
Negative
- Total acquisition consideration for OID Group and UnionMD could reach $160M
News Market Reaction – WHTCF
On the day this news was published, WHTCF gained 6.18%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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- WELL has reached its goal of
$100 million in annualized Adjusted EBITDA(1) run-rate for WELL Canada, three calendar quarters ahead of schedule, driven by strong organic growth across WELL Clinics and WELLSTAR together with two accretive acquisitions. - WELL had previously guided a
$100 million annualized Adjusted EBITDA(1) run-rate by Q1-2027 on approximately$800 million of revenue. The Company has delivered it on approximately$700 million of revenue, implying an Adjusted EBITDA Margin(1) of approximately14% - roughly 180 basis points ahead of prior guidance. - On June 1, 2026, WELL closed two complementary, immediately accretive acquisitions in Ontario and Québec, focused on diagnostic imaging and procedural care:
100% of the OID Group and approximately65% controlling interest in UnionMD. The Company paid approximately$115 million at closing for both acquisitions, expanding its Canadian Clinics network to approximately 270 clinics nationally. The total purchase price for these two transactions could amount to$160 million , inclusive of future earn-outs and vendor take-back financing. - The two acquisitions generated combined Adjusted EBITDA(1) of approximately
$22 million in 2025, reflecting Adjusted EBITDA Margins(1) of well over25% , and bringing WELL Canadian Clinics to well over$80 million in annualized Adjusted EBITDA(1) run-rate. - On the strength of this performance and the contribution of the completed acquisitions, WELL now expects to exceed the top end of its previously announced 2026 Adjusted EBITDA(1) guidance range of
$175 million to$185 million . The Company intends to provide a formal update to its 2026 outlook in connection with announcing its second quarter financial results.
Vancouver, British Columbia--(Newsfile Corp. - June 2, 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, today announced that it has achieved its goal of
These two acquisitions generated combined Adjusted EBITDA(1) of approximately
Reaching and exceeding
On the strength of this performance and the contribution of these completed acquisitions, WELL expects to exceed the top end of its previously announced 2026 Adjusted EBITDA(1) guidance range of
Hamed Shahbazi, Chairman and CEO of WELL, commented, "Reaching
In Ontario, WELL has acquired the OID Group, a network of outpatient diagnostic imaging clinics operating primarily under the Ontario Imaging Diagnostics brand. In Québec, WELL has acquired a majority controlling interest in UnionMD, one of the province's largest and multi-disciplinary healthcare platforms, a procedure-first business. Both acquisitions achieved Adjusted EBITDA Margins(1) of well over
Dr. Michael Frankel, President of Canadian Clinics, commented, "Both of these acquisitions bring strong, well-established clinical teams into the WELL network and reflect the depth of talent that exists across the Canadian healthcare landscape. We look forward to bringing these clinics into the WELL ecosystem, leveraging our shared services infrastructure and technology platforms to enhance operational efficiency and the experience for both patients and providers."
Beyond their standalone contribution, both acquisitions are expected to benefit from WELL's shared services infrastructure, technology platforms, and proven clinic operating model. WELL has identified a range of opportunities to enhance performance across the acquired platforms, including expanded capacity and other synergies across WELL's national network. The Company believes these initiatives, combined with the platforms' already strong margin profiles, will further support WELL Canada's profitability over time. WELL intends to provide additional detail on its integration and value-creation plans in connection with announcing its second quarter financial results.
Footnotes:
- Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Please refer to WELL's most recent Management's Discussion and Analysis (MD&A), available under the Company's profile on SEDAR+ at www.sedarplus.ca, for further details including definitions and reconciliations to the nearest IFRS measure.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL Health Technologies Corp. (TSX: WELL) 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 approximately 270 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.
Forward-Looking Statements
This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans; expectations regarding continued revenue and EBITDA growth; the expected benefits and synergies of completed acquisitions; 2026 guidance affirmation/improvement, long-term strategic objectives, liquidity expectations, WELL's acquisition pipeline, WELL's growth initiatives, revenue and other financial contributions from completed acquisitions, as well as information in the "Outlook" section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including without limitation: adverse market conditions and the ability to complete acquisitions; risks inherent in the primary healthcare sector in general; continued patient and consumer demand for WELL's products and services; regulatory and legislative changes; that future results may vary from historical results; the inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies from acquisitions; that market competition may affect the business, results and/or financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedarplus.ca, including its most recent Annual Information Form. Except as required by securities laws, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
This news release contains financial outlook information (collectively, "FOI") about estimated annual run-rate revenue for WELL Canada, Adjusted EBITDA, and Adjusted EBITDA Margins all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOI. FOI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOI contained in this news release should not be used for purposes other than for which it is disclosed herein.
Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Pardeep Sangha
Vice President, Investor Relations
investor@well.company
604-628-7266
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299803