WELLSTAR Technologies Corp., the Vancouver-based clinical operations and medical billing arm of WELL Health Technologies, has acquired two Canadian medical billing firms, PatientSERV and Lambert Médico Factures Inc., for an initial $4.8 million, with up to $6.3 million more tied to future performance.
According to a news release, WELLSTAR delivers billing and operational services for clinics, streamlining administrative work and allowing physicians to prioritize patient care.
PatientSERV and Lambert are expected to contribute about $5 million in annual revenue and will help expand WELLSTAR’s footprint across Canada. The deal also strengthens its role as a partner to physicians by enhancing its billing capabilities and overall service offerings.
“Taken together, these transactions represent a major step forward in our mission to build Canada’s most complete and physician-centred clinical operations platform. Collectively, these moves deepen our provincial reach, broaden our service offerings and position WELLSTAR to deliver scalable, high-impact operational improvements to physicians across our entire ecosystem. With the previously announced $62 million equity financing, WELLSTAR is well-funded to continue to execute on its capital allocation strategy as we continue to target a $100 million revenue run-rate goal by the end of this year,” WELLSTAR CEO Amir Javidan said in a statement.
