Digital health firm WELL Health Technologies (TSE:WELL) has announced the acquisition of Atlanta-based CarePlus Management. WELL made the purchase via its subsidiary CRH Medical, and it enhances the firm’s presence in the U.S. market, specifically in the domains of anesthesia services. The deal not only broadens CRH’s footprint but also fortifies its platform for recruitment and temporary healthcare staffing.
With the acquisition completed, WELL has raised its revenue guidance for 2023 to a range of C$740 million to C$760 million (previously C$690 million to C$710 million). However, the company kept its adjusted EBITDA guidance unchanged, expecting greater than 10% growth for the year. Nonetheless, the stock is soaring on this news.
Hamed Shahbazi, the CEO of WELL Health, expressed optimism over the acquisition, emphasizing that CarePlus will improve anesthesia services, optimize staffing processes, and augment revenue cycle management.
Is WELL Health Stock a Buy, According to Analysts?
According to analysts, WELL Health earns a Strong Buy consensus rating based on seven unanimous Buy ratings assigned in the past three months. The average WELL Health stock price target of C$9.20 implies a whopping 97% upside potential.
If you’re wondering which analyst you should follow if you want to buy and sell WELL stock, the most accurate analyst covering the stock (on a one-year timeframe) is David Kwan of TD Securities, with an average return of 80.8% per rating and a 60% success rate. Click the image below to learn more.
