Datametrex acquires Arbutus Health and Wellness, expands Canadian healthcare footprint
Arbutus offers a comprehensive range of medical services under one roof, including walk-in care, family medicine, and skin laser treatments
The company plans to continue investing in healthcare innovation and infrastructure
Datametrex AI Ltd. stock (TSXV:DM) last traded at $0.12
Technology and healthcare-focused company, Datametrex AI (TSXV:DM) announced the acquisition of Arbutus Health and Wellness Inc., a multidisciplinary medical clinic based in Vancouver, British Columbia. The acquisition marks a major move by Datametrex to deepen its presence in the Canadian healthcare market.
Arbutus Health and Wellness offers a comprehensive range of medical services under one roof, including walk-in care, family medicine, skin laser treatments, and other specialty healthcare services. Once fully operational, the clinic will be staffed by licensed healthcare professionals, enabling patients to access multiple services without the need for multiple referrals—a model aimed at improving efficiency and patient experience.
Under the terms of the agreement, Datametrex acquired 100 per cent of the issued and outstanding shares of Arbutus Health in exchange for 11 million common shares of Datametrex, valued at $0.10 per share. Arbutus is now a wholly-owned subsidiary of Datametrex.
Datametrex has not assumed any debt from Arbutus as part of the transaction. The acquisition does not constitute a fundamental change to Datametrex's business operations, nor is it expected to result in a change of control of the company.
'We are excited to finalize this agreement and are eager to integrate the Arbutus Health team into Datametrex,' Datametrex's CEO, Paul Haber said in a news release. 'This acquisition marks a key milestone in broadening our product portfolio and enhancing our presence in the healthcare sector.'
The company plans to continue investing in healthcare innovation and infrastructure, leveraging its technological expertise to support the clinic's operations and patient services.
Datametrex develops innovative solutions across technology, artificial intelligence and healthcare to enhance operational efficiencies and business outcomes.
Datametrex AI Ltd. stock (TSXV:DM) last traded at $0.12 and though it has risen more than 9 per cent this week, it has lost more than 73 per cent since June 2024.
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