AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- HEALWELL AI secures OIO consent for Orion Health acquisition, expanding global footprint.
- The deal includes NZD$175M upfront payment plus performance-based earnout.
- Acquisition strengthens HEALWELL’s AI-driven preventative healthcare capabilities.
HEALWELL AI Inc. (TSX:AIDX), a leader in healthcare artificial intelligence focused on preventative care, has announced a significant milestone in its global expansion. The company has received formal consent from the Overseas Investment Office (OIO) of New Zealand for the acquisition of Orion Health Holdings Limited (“Orion Health”). This approval follows the share purchase agreement signed on December 16, 2024, between HEALWELL, Orion Health, and McCrae Limited, Orion Health's sole vendor.
The deal involves a total consideration of NZD$175 million, with the potential for a performance-based earnout of up to NZD$25 million. This strategic acquisition marks a major leap for HEALWELL, not just in terms of financial investment but in expanding its capabilities and reach within the global healthcare sector. Orion Health, based in Auckland, New Zealand, is a recognized leader in the development and deployment of healthcare information exchange and intelligence platforms. With over 70 clients spanning 11 countries and a team of approximately 400 professionals, Orion Health has established a strong reputation in the public sector, including marquee government clients.
The acquisition is poised to significantly enhance HEALWELL’s technological footprint, especially within the public sector, thanks to Orion Health’s established government relationships. This collaboration will enable HEALWELL to further its mission of revolutionizing healthcare by focusing on early disease detection and improving population health management through advanced AI and data-driven technologies. By joining forces, the companies expect to unlock new opportunities in clinical research and preventative care, all while creating synergies in revenue and operational costs.
One of the most exciting aspects of the acquisition is the increase in global reach for HEALWELL. Orion Health’s platform covers over 150 million lives globally, providing a valuable foundation for HEALWELL to expand its own influence in the healthcare space. The combined entity will be well-positioned to drive innovation in health technology, tapping into a broader customer base, including government contracts, which have become increasingly essential in modern healthcare infrastructure.
The OIO’s approval is subject to standard conditions applied to overseas acquisitions of significant New Zealand business assets. One such condition includes the requirement for HEALWELL to finalize the acquisition of the Orion shares on or before February 28, 2026. However, HEALWELL expects to complete the closing process and finalize the transaction by April 1, 2025.
