WELL Health Technologies Corp., the Canadian digital health company, has announced a new deal for Aware MD based in Ontario. The deal is valued at CAD 4.5 million, or roughly $3.6 million. The deal also includes a conditional earn-out based on the overall operating performance of Aware MD of up to $2.7 million. In 2020, Aware MD generated $1.58 million in revenue.
Aware MD is an enterprise-class electronic medical records (EMR) provider with an array of products and services for disease specialties including cardiology, radiology, endocrinology, and rheumatology. Aware MD developed the Cerebrum proprietary workflow solution designed for specialists to manage busy and multi-diagnostic practice.
The deal is expected to close in early Q4 2021. Post-closing, Aware MD will become a WELL EMR Group subsidiary and will be operated by its current staff led by Drs. Galina and Anatoly Langer, who are both licensed cardiologists.
WELL Health has been on an acquisition marathon this year, with seven deals on the books so far, buying up digital health platforms to bolster its product portfolio, but also buying primary care clinics and physician groups to complement those services. The company last reported a deal just this month, adding Silicon Valley-based WISP, a leading national provider of telehealth and e-pharmacy solutions specializing in Women’s Health, for $41 million.
