Orion Health founder Ian McCrae. Photo / Michael Craig
Auckland-based health software company Orion Health has been sold in a $200 million deal to Canadian tech company Healwell AI.
Orion said the Canadian digital health marketer would pay CA$165m (NZ$200.5m) for 100% of Orion’s shares with CA$86m paid in cash with a CA$20.5m three-year earnout and the balance
in Healwell shares.
Orion offers subscription patient record programmes and healthcare navigation products.
Healwell chair Hamed Shahbazi said the acquisition of Orion Health was a game-changer.
“Orion Health brings significant large enterprise customers, recurring revenues, strong operating margins and free cashflow conversion to Healwell while providing a significant new channel for the distribution of its best-in-class AI products and services.”
