CPE News (1.12.2022) – Maple Corporation has acquired Wello, a virtual healthcare brand managed by INLIV Inc., a wholly-owned subsidiary of Coril Holdings Ltd.
Financial terms were not disclosed. Coril Holdings joins Shoppers Drug Mart Inc. and others as a shareholder in Maple Corporation.
Based in Calgary, Wello provides access to virtual primary medical care, in all Canadian provinces and territories, to employees of over 350 companies ranging from Fortune 100 companies to small businesses.
Maple is a technology platform that tackles some of the world’s most meaningful issues in healthcare, starting with timely and convenient access to doctors and other healthcare providers including dermatologists, psychiatrists, and oncology navigation experts. This platform enables patients to connect directly with doctors and specialists for medical care in minutes from their smartphone or computer 24/7, in addition to providing custom technology solutions for employers, insurers, hospitals, and clinics.
Founded by Brett Belchetz, Roxana Zaman, and Stuart Starr, Maple has been backed by Shoppers Drug Mart Inc., RBC Ventures, Action Capital, MaRS IAF, and private investors.
Shoppers Drug Mart invested $75 million in 2020 and 2021 in Maple for a 28% stake in the company.
photo credit: Wello
News Release
MAPLE ACQUIRES WELLO
TORONTO, Jan. 12, 2022 /CNW/ – Maple, one of North America’s fastest-growing companies and Canada’s leading virtual care platform, is pleased to announce the acquisition of Wello, a virtual healthcare brand managed by INLIV Inc. INLIV Inc. is a wholly-owned subsidiary of Coril Holdings Ltd.
Based in Calgary, Alberta, Wello provides access to virtual primary medical care, in all Canadian provinces and territories, to employees of over 350 companies ranging from Fortune 100 companies to small businesses. Launched in 2017, Wello integrates comprehensive expertise in primary medical care, executive health, and corporate health and wellness with technology to seamlessly deliver virtual healthcare to its customers’ employees.
“We are pleased to announce the acquisition of Wello and are excited to have their large network of clients join the Maple platform. Wello has a prestigious client and partner base across Canada, including their home market of the western provinces. We look forward to providing these customers and employees with the best virtual care experience available,” said Brett Belchetz, CEO and Co-founder of Maple. “In addition, we are proud to welcome Coril Holdings, one of Canada’s oldest and most successful family businesses, to our group of shareholders.”
“We are excited to be joining forces and becoming part of the Maple family. Our organizations and teams have a shared purpose of tackling some of the world’s most meaningful issues in healthcare and providing solutions that make a difference in people’s lives and to their families,” said Vince Danielsen, CEO of INLIV Inc.
“We are thankful to the Wello team and proud of the impact they have in growing accessibility to healthcare for thousands of people across Canada,” said Mike Mannix, Executive Vice President, Corporate and Venture Development for Coril Holdings. “This acquisition by Maple strategically builds on that success, resulting in a stronger combined company with a broader offering of virtual healthcare and mental health solutions. We are confident that the Maple team shares our goals of service excellence, responsible innovation, and growth and we look forward to supporting Maple’s success.”
About Maple
Maple is a technology platform that tackles some of the world’s most meaningful issues in healthcare, starting with timely and convenient access to doctors and other healthcare providers including dermatologists, psychiatrists, and oncology navigation experts. This platform enables patients to connect directly with doctors and specialists for medical care in minutes from their smartphone or computer 24/7, in addition to providing custom technology solutions for employers, insurers, hospitals, and clinics. Learn more at getmaple.ca.
About Coril Holdings
Coril Holdings and its predecessors have a 124-year history in family business spanning four generations of Shareholders. Our employees, management teams and Board of Directors are committed to creating, inspiring and supporting world-class socially and environmentally responsible businesses that transcend generations. Learn more at coril.com.
SOURCE Maple Corporation
For further information: Aliya Darvesh, Sr. Manager, Communications, Maple, aliya.darvesh@getmaple.ca