01:19 PM EDT, 07/02/2024 (MT Newswires) -- Healwell AI (AIDX.TO), a healthcare technology company, said Tuesday that it has closed the purchase of VeroSource Solutions, a healthcare-software company, and BioPharma Services, a full-service CRO specializing in early clinical trials.

Healwell's pro-forma annualized revenue run rate is now expected to be more than $65 million per year.

The total consideration paid for VeroSource is $19.6 million in addition to a four-year earn-out of up to $4.9 million. The total consideration paid for BioPharma is $12.5 million in addition to a three-year earn-out of up to $2.5 million.

The deals are expected to be financially accretive.

The company's shares were last seen down $0.19 to $2.34 on the Toronto Stock Exchange.

Price: 2.33, Change: -0.20, Percent Change: -7.91