Well Health Technologies To Buy Medical Clinic Inliv For $1.6 Million

Digital healthcare company Well Health Technologies (WELL) is buying privately held Calgary-
based clinic Inliv for $1.6 million.

The acquisition will help Well Health expand in Alberta, the company said in a news release.

Inliv reported revenues of $7.3 million in the 12 months ending in April. More than 85% of its
revenue comes from membership fees. The company has more than 50 people on staff and
1,000 clients in Alberta.

The acquisition of Inliv will bolster Well Health’s revenues, which hit a record high in May after
patient visits jumped by 40% year-over-year. Well Health has raised its sales forecast for this
year, saying it now expects sales to exceed $525 million.

The purchase of Inliv is expected to close in this year’s third quarter. Well Health’s stock has
declined 38% this year to trade at $3.18 per share.