WELL Health Technologies announced on May 19 that it acquired MCI Medical Clinics (Alberta) Inc. (MCI AB) from MCI Onehealth Technologies Inc. The purchase price is approximately $1.48 million, or $2 million CAD.
MCI AB owns and operates five primary care clinics in Alberta, Canada. Per the press release, the company has more than 50 physicians on staff. The clinics offer a range of primary care services, including family medicine, women’s health and other specialties.
WELL Health Technologies is a digital health company that operates more than 30 health clinics in British Columbia, Quebec, Alberta and California. It also operates a national telehealth service and provides billing, digital health and cybersecurity solutions.
The MCI AB clinics will be integrated into WELL’s existing primary care clinic network. WELL Health anticipates that the clinics will bring in an approximate yearly revenue of $7.4 million. The deal is expected to close in Q2:23.
According to the LevinPro HC database, this acquisition represents the 236th Physician Medical Groups (PMG) transaction of the year and the fourth in the primary care specialty. This is a slight increase from January 1, 2022, through May 19, 2022 when 221 PMG deals and one primary care transaction were reported.
