Canada's Well Health Technologies Corp. entered into an arm's length agreement to acquire all the issued and outstanding shares of OSCARprn – Treatments Solutions Ltd. for C$876,000.
The company will pay C$619,500 of the purchase price in cash and issue 373,906 shares priced at 69 Canadian cents apiece for a total of C$256,500.
OSCARprn provides of open-source electronic medical records solutions to about 71 medical clinics in British Columbia. The acquisition will help Vancouver-based Well Health Technologies to expand its electronic medical records services to about 292 clinics with over 5.5 million patients.
OSCARprn's Founder Peter Everett, who plans to retire, will assist with the transition of operations for a certain period following the deal closing.