February 4, 2026 — Leads & Copy — WELL Health Technologies Corp. has expanded its senior secured credit facility and completed the acquisition of E-Consult Canada LP, an e-consult platform, and eight primary care clinics in Alberta.
The company’s senior secured credit facility has been upsized and extended to $400 million, an increase of more than $200 million over the capacity previously announced in July 2025. The credit facility has been extended by three years to 2030. The facility is led by Royal Bank of Canada, JPMorgan Chase Bank, N.A., and The Toronto-Dominion Bank as Co-Lead Arrangers and Joint Bookrunners and supported by a syndicate of lenders.
WELL completed the acquisition of the E-Consult Platform, a technology-enabled e-consult healthcare services business which closed effective February 1, 2026, and eight primary care clinics in Alberta which closed on December 1, 2025. WELL acquired 100% ownership of the Clinics through its proven clinic absorption model, and acquired a majority 61% ownership interest in the E-Consult Platform for approximately $33 million, paid in an all-cash transaction. The acquisition of the Clinics and the E-Consult Platform is expected to contribute proforma annual revenue of approximately $45 million cumulatively across both the e-consult and clinic businesses reflecting gross margins of approximately 48% and operating Adjusted EBITDA margins of better than 20%.
According to WELL, the expanded credit facility enables it to execute on its pipeline of clinic assets and the Canadian Clinics M&A pipeline includes some of the largest prospective targets in the Company’s history. WELL currently has approximately $245 million of clinical revenue under advanced stage or signed LOI of potential acquisitions.
WELL’s Canadian Clinic business increased its acquisition activities last year, completing 20 clinic acquisition transactions (including three absorptions) in 2025, compared to 10 in 2024. Approximately $77 million was allocated to these clinical acquisitions in 2025, representing an increase of over 400% compared to 2024 capital deployment.
The company says the acquisition of the Clinics strengthens its outpatient primary care clinic network in Alberta by approximately 30 healthcare providers. The E-Consult Platform is a technology-enabled e-consult healthcare service, which connects primary care physicians and specialists across Alberta, supporting over 100 providers.
The E-Consult Platform enables primary care physicians to securely connect digitally with specialists and receive timely clinical guidance in an asynchronous form. This collaboration helps reduce wait times for specialist input, improves the accuracy and consistency of patient support, and strengthens communication between care providers.
WELL says its Canadian Clinics continue to make meaningful progress in clinic transformation, digitization, and physician recruitment, and the majority of its clinics have now completed their initial stage of digitization. WELL says they are already seeing the positive effects of our digitization work along with strong patient satisfaction as reflected in above average NPS. They are also seeing continued physician growth across the network, is allowing them to improve access to care while building a more efficient and sustainable clinical platform that supports both patients and providers.
WELL’s mission is to tech-enable healthcare providers. Its comprehensive healthcare and digital platforms include extensive front and back-office management software applications that help physicians run and secure their practices. WELL’s solutions enable more than 43,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 240 clinics supporting primary care, specialized care, and diagnostic services.
“We are pleased to provide a corporate update highlighting the continued progress and strength of our Canadian Clinics capital allocation program which doubled the number of acquisition transactions completed in 2025 as compared to 2024,” said Hamed Shahbazi, Founder and CEO of WELL. “The expansion and extension of our senior secured credit facility significantly enhances our financial flexibility and is a testament to the financial community’s support and trust in our efforts to support care providers while helping create a more efficient and productive healthcare ecosystem. We are also very pleased to confirm that we’ve acquired a scalable, technology-enabled healthcare e-consult capability enabling primary care providers and specialists to collaborate in a timely and efficient manner to improve patient outcomes. Combined with strong operational performance across our clinics in 2025, these developments underscore the durability of our platform and our ability to consistently execute on both organic growth and strategic M&A over the long-term.”
“Our Canadian Clinics continue to make meaningful progress in clinic transformation, digitization, and physician recruitment,” said Dr. Michael Frankel, Chief Medical Officer and President of Canadian Clinics. “I’m pleased to report that the majority of our clinics have now completed their initial stage of digitization. While our clinic transformation roadmap has many more stages and features to roll out, we are already seeing the positive effects of our digitization work along with our strong patient satisfaction as reflected in our above average NPS. All this, in addition to our continued physician growth across the network, is allowing us to improve access to care while building a more efficient and sustainable clinical platform that supports both patients and providers.”
Source: WELL Health Technologies Corp.
