Slowly but surely, WELL Health Technologies Corp. (TSX.V: WELL) is building its own digital health platform. The Canadian healthcare operator announced it acquired OSCARprn for $876,000.
Financial details include $619,500 upfront and $256,500 via 373,906 shares in the capital of WELL at a price of approximately $0.69 per share. The target company provides electronic medical record (EMR) software services compatible with Oscar, an open source EMR platform that handles patient records, scheduling, prescription management, and billing. OSCARprn partners with approximately 71 medical clinics in British Columbia, approximately 820 practitioners, and over 800,000 unique patients.
This eHealth deal is the second for WELL Health in 2019. In early January, the company bought NerdEMR Services Ltd. for $2.5 million. That company also offers services on Oscar, assisting 220 clinics and supporting more than 4.5 million patients in Canada.
The deal included the acquisition of Butterfly Medical Limited, which owns intellectual property on the consolidation of EMR companies related to the Oscar platform. Both these transactions helped WELL Health grow considerably in the Candian market, and we only expect this platform to expand.