WELL Health Technologies, a digital healthcare company focused on improving health outcomes through technology, announced the acquisition of the Canadian clinical assets of Jack Nathan Medical.
This acquisition includes a network of 16 owned and operated primary care clinics across 13 Canadian cities as well as a clinic licensing business with 62 licensee clinics, which will become the model for WELL’s new Affiliate Clinic business stream.
“Acquiring JNH’s Canadian business will mark a key milestone in WELL’s mission to support healthcare providers and improve clinic operations across Canada,” stated WELL founder and chief executive officer Hamed Shahbazi. “By adding 90 doctors to our network and expanding with both owned and affiliate clinics, we will be enhancing our ability to support physicians in delivering high-quality care.”
WELL is set to acquire Jack Nathan’s rights to operate medical clinics in Walmart Canada stores, creating a platform to grow within Walmart’s national footprint of over 400 Canadian locations.
“These clinics, situated in Canadian Walmart stores across a diverse network of 13 Canadian cities, will benefit from WELL’s optimization tools and digital innovations aimed at improving efficiency and enhancing the provider experience,” said Shahbazi.
The acquisition introduces a new primary care “Affiliate Clinic” business model for WELL. The new model will involve WELL recruiting physicians into smaller clinics owned and operated by the physicians themselves, with WELL providing technology and operational support while generating rental income.
“Primary care is the foundation of the healthcare system, and this expanded footprint enables WELL to equip physicians with the tools and support they need to deliver care more efficiently and effectively,” stated WELL’s Chief Medical Officer, Dr. Michael Frankel. “This acquisition strengthens WELL’s position as a leading healthcare company focused on empowering providers, improving workflows, and ensuring the sustainability of clinic operations.”
WELL’s “clinic transformation team” will work to optimize the newly acquired clinics, focusing on improving workflows, streamlining operations, and enhancing both provider and patient experiences, according to a statement from the Vancouver-based firm.
Last year, the Vancouver Canucks selected WELL Health Technologies to be the Official Medical Services Provider to the team, according to a statement issued by WELL. Moving forward, the Canucks will utilize the WELL Health Medical & Longevity Centre, which is a part of WELL’s Health Clinic Network.
Currently, WELL’s solutions empower 33,000 healthcare providers across North America. The company, named a Life Sciences BC Company of the Year for 2023, is publicly traded on the Toronto Stock Exchange under the symbol WELL.
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