Well Health reached an arrangement agreement to acquire all issued and outstanding shares of CRH Medical at $4 per share, the company announced Feb. 8.
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."