- WELL Health announced that it has re-branded CRH Medical
Corporation as WELL Health USA.
- WELL Health USA's goal is to
mirror WELL's mission of tech enabling care providers in
the United States while digitizing
and modernizing healthcare businesses.
- In addition, WELL Health USA
will leverage its deep US based healthcare expertise and structural
advantages to create a whole new category of shared services that
will benefit and deliver improved integration with WELL's US based
lines of business.
- The combined WELL Health USA
business is a multi-disciplinary healthcare business spanning
primary and specialized care with online and offline operations at
scale with operating run-rate revenues of approximately
CAD$500 million. WELL Health
USA is a highly profitable and
rapidly growing business.
VANCOUVER, BC, July 27,
2023 /PRNewswire/ - 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 leveraging technology to
empower healthcare practitioners and their patients globally, is
pleased to announce the formation of its new WELL Health
USA business unit, a re-branding
of what was previously CRH Medical Corporation, a wholly owned
subsidiary of WELL.
Hamed Shahbazi, Founder and CEO
of WELL commented, "This is an important and exciting move for our
company as we are building on the successful acquisition of CRH
more than two years ago which has not only become a much more
digitally enabled healthcare enterprise, but it has also become the
center of gravity in WELL's US based business. It is very clear to
us that we have significant opportunities to not only grow our
business in the US but also leverage our deep US based experience
and capabilities for the benefit of other WELL lines of
business."
WELL Health USA will be run by
the current CEO of CRH Medical, Jay
Kreger. Mr. Kreger originally joined CRH as President of its
Anesthesia division in 2016, whereupon he developed an anesthesia
management team necessary to grow and sustain our best-in-class
anesthesia service and ensured a seamless integration of newly
acquired practices onto the CRH Anesthesia platform. He was
appointed CEO in January 2022. Prior
to joining CRH, Mr. Kreger was the VP of Development for the
Ambulatory Surgery Division of HCA, where he was responsible for
expanding HCA's network to over 130 ASCs through acquisitions and
partnerships. Previously, he served in several capacities at
Surgical Care Affiliates – namely, in Development and Operations
Leadership roles.
Jay Kreger, CEO of WELL Health
USA commented, "The CRH management
team has deep expertise and over 100 years in combined experience
in allocating capital, integrating, and growing healthcare
businesses and working inside some of the largest and most
prominent healthcare companies in the
United States. That expertise has allowed us to execute on
WELL's goals and objectives. With this move, we are now empowered
to leverage our capabilities and deepen integration opportunities
between our US lines of business. A great example of this is our
recent acquisition of Radar Healthcare providers, which provides
best-in-class provider recruitment. This is an excellent
opportunity for us to evolve Radar to support other US based lines
of business."
The new WELL Health USA
business unit reflects WELL's Canadian tech-enabled healthcare
business quite well as it is also a multi-disciplinary tech-enabled
care delivery business that spans across both primary and
specialized care providing both online and in-clinic operations at
scale. The platform also has exposure to and deep expertise in
several exciting growth areas such as behavioral health and women's
reproductive and sexual health. This integrated operating platform
will support approximately 3,000 healthcare providers across 300+
clinics1, ASCs and hospitals, who provide services to
over 2 million patients annually. This business unit encompasses
U.S. based companies and brands including CRH Anesthesia, CRH
O'Regan System, Radar Healthcare Providers, Circle Medical and
Wisp. This single business unit will help WELL better assist and
continue to grow market share through a unique and unified platform
offering.
As part of its mission, WELL Health USA will roll out and offer 'shared services'
to other US based operating units. Such shared services may
include, but not be limited to: Insurance, Billing, Credentialing,
Payor Contracting/Strategies, Procurement, Legal, Human
Resources/HRIS and Payroll, Benefits, Learning, Recruitment, etc.
focusing on the synergies and cost-effective benefits that become
available with organizational scale. WELL Health USA will also continue to work with the rest
of the WELL Health organization to ensure that shared services
offered via WELL's Canadian headquarters such as cybersecurity, IT
and digital marketing can be more efficiently rolled out and
utilized as required.
You can learn more about WELL Health USA at usa.well.company.
Footnotes:
|
1.
|
The figure of 300+
clinics includes mostly ASCs where WELL/CRH supports care delivery
but doesn't own and operate the facilities themselves.
|
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies
Corp.
WELL's mission is to tech-enable healthcare providers. We do
this by developing the best technologies, services, and support
available, which ensures healthcare providers are empowered to
positively impact patient outcomes. WELL's comprehensive healthcare
and digital platform includes extensive front and back-office
management software applications that help physicians run and
secure their practices. WELL's solutions enable more than 28,000
healthcare providers between the US and Canada and power the largest owned and
operated healthcare ecosystem in Canada with more than 130 clinics supporting
primary care, specialized care and diagnostic services. In
the United States WELL's solutions
are focused on specialized markets such as the gastrointestinal
market, women's health, primary care, and mental health. WELL is
publicly traded on the Toronto Stock Exchange under the symbol
"WELL" and on the OTC Exchange under the symbol "WHTCF". To learn
more about the Company, please visit: www.well.company
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SOURCE WELL Health Technologies Corp.