The shares represent approximately $292.7 million and a transaction value of $369.2 million.
Well also entered into an agreement to raise $231.8 million ($295.5 million Canadian) in equity under a non-brokered offering.
The offering would close this month and the acquisition would close in the second quarter of 2021. The acquisition is subject to regulatory, shareholder and court approvals.
Hamed Shahbazi, chair and CEO of Well, said, “This will be a monumental acquisition for Well as it will significantly boost our revenue and EBITDA profile, dramatically enhance our U.S. operations, and provide us with additional inorganic and organic growth opportunities.”
More articles on surgery centers:
12-OR ASC part of $295M Florida orthopedic hospital expansion
3 ASCs launching total joint programs
4 ASCs installing total joint robots
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.