Move Health Holdings Corp. announced that it has finalized the terms of its acquisition of 100% of the issued and outstanding shares in PhysioCare and Wellness Clinic Inc and Ortho Neuro PhysioCare Inc.
The acquisition grows Move Health’s footprint from three to five clinics and marks the company’s entry into Eastern Canada.
The transaction of approximately $1.88 million comprised 85% common shares of Move Health and 15% cash consideration. Immediately accretive to Move Health, the acquisition is expected to add more than $2 million in revenue and more than 14.5% EBITDA in the first year and in advance of any operational synergies and financial efficiencies.
PhysioCare and Wellness Clinic is a provider of healthcare services focused on physio care and wellness clinics based in Brampton, Ontario. The company specializes in personalized pain relief treatment offering massage therapists, acupuncture, orthotics, pain clinic, physiotherapy, sports therapy, laser therapy and shockwave therapy catering to patients with recovery programs.
Based in Brampton, Ontario, Ortho Neuro PhysioCare provides a wide array of therapy and wellness programs that can help in the treatment of orthopedic and neurological disorders.
Established in 2019, Move Health Holdings Corp. specializes in health and wellness services, including physiotherapy, chiropractic, registered massage therapy, kinesiology, counseling, acupuncture, occupational therapy, cold laser therapy, reiki, bracing and orthotics.
According to data captured in the LevinPro HC database, this acquisition represents the 5th health clinic acquisition of 2023. By comparison, there were six health clinic acquisitions announced between January 1, 2022, and March 13, 2022.
