On January 29, 2026, WELL Health Clinics Canada Inc., a wholly-owned subsidiary of WELL Health Technologies Corp. (“WELL”), closed an expanded and extended senior secured credit facility with a syndicate of seven lenders led by Royal Bank of Canada, JPMorgan Chase Bank, N.A., and The Toronto-Dominion Bank as co-lead arrangers and joint bookrunners. The new facility provides total committed capacity of up to $400 million with an additional $100 million uncommitted accordion feature, effectively doubling the company's prior $200 million facility and extending the maturity to January 2030. The financing was materially oversubscribed during the syndication process. WELL publicly announced the closing on February 4, 2026.
The expanded credit facility supports WELL's growing Canadian Clinics capital allocation program, including the February 1, 2026 closing of WELL's strategic acquisition of a leading technology-enabled e-consult platform in Alberta together with eight associated primary care clinics, a transaction expected to contribute approximately $45 million in pro forma annual revenue with gross margins of approximately 48 percent and operating Adjusted EBITDA margins above 20 percent. WELL completed 20 clinical acquisitions in 2025, twice as many as the prior year, and reported approximately $245 million of clinical revenue under advanced-stage or signed letter-of-intent acquisitions at the time of closing. As of December 31, 2025, and post-acquisition of the e-consult platform, the leverage ratio under the facility was expected to remain below 3.0x. The terms of the credit facility are consistent with comparable Canadian syndicated credit arrangements and contain customary provisions with respect to mandatory repayments and amortization, financial and other covenants, and supporting security structure.
BLG acted as lead counsel to the syndicate of seven lenders, with a team led by Elly Seddon that included Adam Simpson and Josh Dechaine (Financial Services).
Blake, Cassels & Graydon LLP acted as counsel to the loan parties.