TELUS Health combines digital-first innovation
with Workplace Options' Employee and Family Assistance Program to
transform employee wellbeing solutions
GTCR to invest US$200
million as part of the acquisition, bringing strategic
healthcare industry expertise to accelerate TELUS Health's global
growth and innovation
VANCOUVER, BC and TORONTO, May 14, 2025
/PRNewswire/ - TELUS Corporation ("TELUS") (TSX: T) (NYSE: TU)
today announced a strategic partnership with GTCR, a leading
private equity investor with extensive expertise across the
healthcare landscape, supporting TELUS Health's recently announced
acquisition of Workplace Options. Last week, TELUS Health announced
the acquisition of Workplace Options for cash of approximately
$500 million (US$350 million), net of assumed debt of
approximately $100 million
(US$70 million). Workplace Options, a
leading global provider of integrated employee wellbeing solutions
across 200 countries and territories, further solidifies TELUS
Health as an unparalleled force in the global wellbeing solutions
market. Today, TELUS Health is one of the largest companies
providing digital-first health and wellbeing services and solutions
globally to empower individuals to live their healthiest lives.
TELUS Health is now positioned to support clients across all
channels and global verticals covering more than 150 million lives
and growing.
"Today marks a transformative milestone in our global health
technology journey," said Darren
Entwistle, President and CEO of TELUS. "By uniting TELUS
Health and Workplace Options, we are creating an unprecedented
breadth of experience and expertise that will drive global
consistency in Employee and Family Assistance Programs (EFAP) and
Wellbeing Solutions in a way that is unmatched in our industry.
This acquisition furthers TELUS Health's practice of partnering
with providers, digital health organizations, health plans and
employers to create a more robust and localized offering executed
at a global scale. This powerful combination, underpinned by TELUS'
extensive AI expertise, ability to draw on common technologies,
trends and advancements will unlock high-quality health outcomes
for all constituents in a way previously unrealized. With more than
40-years of investment experience within the healthcare vertical,
we look forward to GTCR's investment on this acquisition, who will
be a value-added partner, supporting our efforts to accelerate
growth."
"This is more than an acquisition, it's an extension of our
vision to build one of the most comprehensive suites of health and
wellbeing solutions globally," said Navin Arora, Executive Vice-president, TELUS and
President, TELUS Business Solutions, TELUS Health, TELUS
Agriculture & Consumer Goods, and TELUS Partner Solutions.
"With our differentiated and complementary products and services
and a strong base of local and multinational clients worldwide,
we're excited about unlocking significant growth opportunities, new
revenue streams and powerful economies of scale."
Benefits of the transaction:
- Establishes a global network of more than 180,000 providers
across more than 200 countries and territories, positioning TELUS
Health as a leader in the global employer health and wellbeing
space.
- Delivers a standardized model for providing customers with
robust EFAP and wellbeing services, backed by industry-leading
customer experience support, global scale and reach.
- Brings together TELUS' robust infrastructure and leading
networks with Workplace Options' strong digital capabilities, as
well as TELUS Digital's AI expertise, providing TELUS Health with a
unique competitive advantage in the global market.
"By joining forces with TELUS Health, we are aligning with an
organization that shares our deep commitment to innovation in EFAP
solutions and our focus on delivering exceptional value to the
reseller community," said Alan
King, CEO, Workplace Options. "This acquisition by TELUS
Health marks an exciting new chapter, uniting us in our mission to
scaling what matters most: care, connection and trust in the
workplace. TELUS Health's leading digital innovation will enable us
to deliver unparalleled wellbeing services, ultimately transforming
the health and productivity landscape."
GTCR brings over four decades of healthcare investment expertise
to this strategic collaboration, having executed more than 65
platform healthcare investments and 250 healthcare transactions.
GTCR will invest US$200 million as
part of this acquisition, leveraging their deep industry knowledge
and proven track record of successful corporate partnerships. GTCR
is positioned as a strategic ally in support of TELUS Health's
continued growth ambitions, while their participation in the
Workplace Options transaction establishes the foundation for a
long-term, value-generating partnership.
"We are thrilled to partner with TELUS Health to support its
continued growth by leveraging both our deep expertise in the
healthcare sector and ability to structure a bespoke transaction to
meet the needs of our partner," said Dean Mihas, Co-CEO and Managing Director,
GTCR. "Providing flexible capital solutions to outstanding
management teams, coupled with a partnership approach to helping
drive value creation through industry insights and experience, is
core to GTCR's approach to delivering value to our portfolio
companies, investors and other stakeholders."
About TELUS Health
TELUS Health is on a mission to
become the most trusted wellbeing company in the world by enhancing
the overall efficiency of healthcare and championing workplace
wellbeing. By integrating advanced healthcare technology with
comprehensive employee support services, TELUS Health provides a
holistic approach to primary and preventive health and wellbeing
enhancing more than 150 million lives across more than 200
countries and territories. Our innovative digital health platforms,
including electronic medical records (EMRs) and virtual care
solutions, empower healthcare professionals, employers and
governments to deliver personalized care efficiently. Our employee
wellbeing programs empower individuals by offering extensive
support through Employee and Family Assistance Programs (EFAPs),
mental health resources, financial counselling and workplace
wellness initiatives. At TELUS Health, we are committed to
revolutionizing healthcare to ensure people receive the support
they need and employees thrive both personally and professionally.
Together, let's make the future friendly. For more information
please visit: www.telushealth.com.
For media inquiries, please contact:
Marielle Hossack
TELUS Health
marielle.hossack@telus.com
Investor Relations, please contact:
Ian McMillan
IR@telus.com
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SOURCE TELUS Health