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Acquisition accelerates Carebook’s entry into the $8 billion Insurance Technology market
Novus Health generates approximately $4.5M in annual revenues and has more than 2 million platform users
MONTREAL, Nov. 19, 2020 /CNW/ – Carebook Technologies Inc. (“Carebook” or the “Company”) (TSXV: CRBK) (XETR: PMM1), a leading Canadian digital health company offering innovative digital health and virtual care solutions for pharmacies, insurers, employers and governments, is pleased to announce that it has entered into an LOI for the acquisition of Health Care Services International Inc., doing business as Novus Health (“Novus Health”, or the “Company”). Novus Health is Canada’s leading provider of health navigation programs and integrated health and wellness management solutions for insurers, financial institutions and employers. Novus has sales of approximately $4.5 million, is profitable and will be immediately accretive to Carebook.
Novus Health’s main product is a customizable, white-labelled, cloud-based health and wellness portal that its insurance and financial institution customers provide to their clients or employees. The portal allows users to aggregate all of their health resources in one place as well as allow customers insight into user behaviour and trends through detailed reporting and analytics. In addition, the portal provides cross-selling opportunities by providing customers the ability to push product and …
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