08:31 AM EST, 01/14/2025 (MT Newswires) -- WELL Health Technologies ( WHTCF ) on Tuesday said its current M&A pipeline includes 12 letters of intent (LOI) totalling $65 million in revenue.

All but two of the current LOIs are based on targets in Canada. As the largest owner-operator of clinics in Canada (over 200 clinics in total), the company believes it is uniquely positioned to support physicians that no longer want the responsibility to operate clinics.

WELL also said it has acquired a 65% stake in Harmony Anaesthesia Staffing, a full-service anesthesia staffing company based in Atlanta, Georgia. Its two co-founders retain a 35% stake. Harmony currently has over 20 clients.

"Between Dec. 1, 2024, and Jan. 2, 2025, we added approximately $100M in revenues at EBITDA margins in line with our 2024 EBITDA margin guidance without issuing a single share of WELL stock," said Hamed Shahbazi, founder and CEO of WELL. "These transactions demonstrate the powerful compounding capabilities of our company's M&A program and the free cashflow that underpins its momentum."