RTTNews | Feb 8, 2021 06:43AM EST

06:43 Monday, February 8, 2021 (RTTNews.com) - WELL Health Technologies Corp. (WELL.TO) has entered into an arrangement agreement to acquire all of the issued and outstanding shares of CRH Medical Corporation (CRH.TO, CRHM) at $4.00 per share in cash representing equity consideration of approximately $292.7 million and a transaction value of approximately $369.2 million, inclusive of CRH credit facility.

WELL expects the acquisition to drive significant financial accretion, including approximately 120% on a revenue per share basis and 800% on an EBITDA per share basis in 2021, before considering synergies.

WELL has also entered into binding agreements with a group of institutional and individual investors including Li Ka-shing to raise C$295.5 million of equity under a non-brokered offering of subscription receipts at a price of C$9.80 per share.

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