WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the “Company” or “WELL“) — a practitioner focused digital health company that is positively impacting health outcomes by tech-enabling healthcare providers and their patients globally, is pleased to announce its wholly owned subsidiary, CRH Medical (“CRH“), has completed the acquisition of CarePlus Management (“CarePlus“) (the “Transaction“). In conjunction with this Transaction, WELL increases its annual revenue guidance for 2023 to be between $740 million and $760 million and re-iterates its annual Adjusted EBITDA guidance to exceed 10% annual growth.
Headquartered in Atlanta, Georgia, CarePlus has three primary businesses: (i) RADAR Healthcare Providers (“RADAR“) which provides staffing and locum tenens services focused on anesthesia providers; (ii) Anesthesia services division, similar to CRH’s clinical anesthesia services and (iii) Premier Choice Billing (“Premier Choice“) which provides billing, revenue cycle management (RCM) and collection services for healthcare entities.
Jay Kreger, CEO of CRH Medical commented, “We are very pleased to welcome CarePlus to the WELL family. This acquisition not only grows and strengthens CRH’s existing business but also positions CRH to serve as a shared service for provider recruitment and billing services to the other US based businesses in WELL’s portfolio. The CarePlus platform adds significant upside for growth and diversification beyond clinical anesthesia services to include recruitment and revenue-cycle management services. We look forward to helping tech enable the healthcare providers that use and leverage the platform”.
Hamed Shahbazi, Founder and CEO of WELL Health commented, “As a healthcare provider focused company, we’re thrilled to acquire a successful and profitable recruitment platform, built and operated by a best-in-class recruitment team. CarePlus will help CRH further optimize anesthesia services, streamline staffing, and…
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