TORONTO – HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), a healthcare artificial intelligence company focused on preventative care, has entered into a $50 million credit agreement to support its acquisition of Orion Health Holdings Limited (“Orion Health”). The financing is provided by a syndicate of Schedule I Canadian Banks, led by The Bank of Nova Scotia as sole bookrunner, administrative agent, and co-lead arranger, alongside Royal Bank of Canada as co-lead arranger.
The agreement includes:
- A $20 million term loan
- A $30 million revolving credit facility
- An uncommitted accordion feature of up to $25 million
Together with capital raised through its recently completed subscription receipt financings, HEALWELL now has over $100 million in financing arrangements in place to support its acquisition of Orion Health.
Advancing Toward Acquisition Completion
HEALWELL and Orion Health’s vendor have delivered a trigger notice under the Share Purchase Agreement, officially commencing the pre-closing reorganization process. HEALWELL has advanced NZD$5 million to the vendor, with a target closing date of April 1, 2025.
Anthony Lam, CFO of HEALWELL, commented:
“We are pleased to announce this significant milestone as we move toward closing our acquisition of Orion Health. Securing this credit facility strengthens our balance sheet and provides financial stability to execute our strategic growth initiatives. The support from Scotiabank and RBC reinforces confidence in our business and vision, and we appreciate our new financial partners as we unlock opportunities for our company.”
Expanding HEALWELL’s AI-Powered Healthcare Platform
Orion Health is a global leader in healthcare technology, providing advanced solutions for digital health records, data interoperability, population health insights, and healthcare intelligence. Its software currently serves a population of nearly 150 million lives across 11 countries, significantly expanding HEALWELL’s market presence and public sector footprint.
Dr. Alexander Dobranowski, CEO of HEALWELL, added:
“We are excited to move forward with the Orion Health acquisition and look forward to officially welcoming their team to the HEALWELL family. This marks a major step in scaling our platform, integrating AI-driven healthcare solutions with Orion’s data infrastructure, and deepening our penetration into government-backed healthcare initiatives.”
Strategic Impact
This acquisition will position HEALWELL to deliver best-in-class AI solutions by integrating them with Orion Health’s robust healthcare data infrastructure. Additionally, Orion’s long-standing government relationships will support HEALWELL’s expansion into multi-jurisdictional markets and accelerate its mission of early disease detection.
With all conditions precedent to closing satisfied, HEALWELL expects to finalize the acquisition on or around April 1, 2025.
