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Telus to buy LifeWorks for $2.3 billion

Canadian operator Telus will even tackle $600 million in debt to buy healthcare agency LifeWorks, claiming the transfer ‘accelerates Telus Well being’s imaginative and prescient of employer-based healthcare.’

The $2.3 billion deal will permit Telus to include LifeWorks’ worker and household help program and advantages administration capabilities to its present suite of digital well being applied sciences, which incorporates digital and in-person care, assist for psychological well being, a digital pharmacy, dwelling well being monitoring, digital medical and collaborative well being data, advantages and pharmacy administration options, and private emergency response providers.

The intention appears to be to bolster its place within the ‘next-gen employer digital major and preventative well being and wellness’ market. Mixed with LifeWorks portfolio, the agency can have 1000’s of main company shoppers in over 160 nations, which apparently covers greater than 50 million individuals (or ‘lives’ as the discharge bizarrely phrases it).

“We stay up for welcoming LifeWorks workers and prospects into our Telus Well being household,” stated Darren Entwistle, President and CEO of Telus. “Right now’s announcement will allow us to mix the respective abilities and capabilities of LifeWorks and TELUS Well being, making a globally main, end-to-end, digital-first worker preventative and psychological well being and wellness platform protecting greater than 50 million lives. Prospects will profit from our group’s steadfast deal with offering distinctive buyer experiences over our world-leading broadband networks, our consolidated engineering expertise that may incorporate best-in-class knowledge platform applied sciences to positively impression well being outcomes for workers and their households, and our considerably expanded economies of scope and scale.

Stephen Liptrap, President and CEO of LifeWorks added: “The Transaction represents an thrilling new chapter for LifeWorks. The mix of TELUS Well being and LifeWorks represents an unmatched alternative to create a pacesetter in employer-focused major and preventative digital healthcare and psychological wellness options on a worldwide foundation. Collectively, we’ll speed up our shared imaginative and prescient of empowering people to stay their healthiest lives by unifying the continuum of care by digital-first improvements, in addition to our unmatched in-person care. Our two organizations even have shared values and are main, purpose-driven organizations dedicated to bettering the lives of individuals around the globe. The match for the LifeWorks group couldn’t be higher.”

It definitely represents one of many extra notable examples of operators veering out of their core competencies as connectivity suppliers, representing a major funding into a wholly unrelated business. The acquisition places the mixed annual income at an estimated $1.6 billion, although the deal is in fact topic to LifeWorks shareholder, inventory change and regulatory approvals.

 

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