- WELL Canada delivered a record ~1.27 million patient visits⁽¹⁾ in Q1-2026, representing 33% year-over-year growth and 13% organic growth, reflecting broad-based strength across its national network.
- Primary Care Adjusted EBITDA⁽²⁾ margins expanded to approximately 8% in Q1-2026 on a preliminary basis, up approximately 200 basis points from 6% in Q1-2025, driven by WELL’s clinic transformation program and recent accretive acquisitions. Specialty Care margins continued to comfortably exceed 20%.
- Affiliate Clinic network expanded to 74 licensee locations, reflecting the continued build-out of WELL’s ten-year strategic alliance with a large retailer that WELL partnered with in December 2024. The model is highly recurring, high-margin, and capital-light, giving physicians access to high-traffic retail locations nationally.
- CardiologyNow virtual visits grew 65% year-to-date, supported by expanded specialist capacity and strong referral demand, reinforcing its role as a key access point into WELL’s national diagnostics network.
Vancouver, B.C., April 21, 2026. WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the “Company” or “WELL”), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, today reported record quarterly patient visits across its Canadian Clinics network and highlighted continued organic growth, margin expansion in its Primary Care segment, the continued scaling of its Affiliate Clinic network, and strong momentum in its CardiologyNow virtual specialty-care platform.
Hamed Shahbazi, Chairman and CEO of WELL, commented, “Our Canadian Clinics network delivered another record quarter, with approximately 1.27 million patient visits and 13% organic growth reflecting the underlying health and compounding value of our platform. Beyond the headline number, we are seeing real operating leverage emerge: margins in Primary Care are expanding as our clinic transformation program takes hold, our Affiliate Clinic network continues to scale in a capital-light manner, and CardiologyNow is rapidly becoming a leading virtual specialty-care platform in Canada. Together, these are the some of the proof points that continue to give us confidence in the durability of WELL’s growth.”
Steep Increase in Providers Drives Record Patient Visits and Continued Organic Growth
WELL delivered a record 1.27 million Canadian patient visits⁽¹⁾ in Q1-2026, representing a 33% increase year-over-year and 13% organic growth. Organic growth was comprised of 8% same-clinic growth and 5% from clinic absorptions⁽³⁾, reflecting strong underlying demand for primary and specialty care, improved clinic utilization, and operational efficiencies enabled by WELL’s tech-enabled platforms.
WELL’s Canadian clinic network expanded to 253 clinics at quarter end, an addition of 33 clinics or 15% growth compared to Q1-2025, with the majority of additions completed in Ontario and Alberta, two of Canada’s highest-demand healthcare markets. The Company’s Canadian network now includes over 3,100 providers, up 17% year-over-year, with physicians representing the fastest-growing segment of the provider base at 22% year-over-year growth.
WELL continues to maintain a strong pipeline of acquisition and clinic absorption opportunities, reinforcing its position as Canada’s leading consolidator of outpatient healthcare assets.
WELL Canada Patient Visits, Clinic Count and Healthcare Providers
WELL Canada Patient Visits Q1-2026 Growth Breakdown
Primary Care Margin Expansion
On a preliminary basis, WELL’s Primary Care segment is expected to deliver Adjusted EBITDA margins⁽²⁾ of approximately 8% in Q1-2026, up approximately 200 basis points from 6% in Q1-2025. The improvement reflects the combined impact of accretive acquisitions and ongoing execution of WELL’s clinic transformation program. Specialty Care margins continued to comfortably exceed 20% in the quarter, underscoring the attractive economics of WELL’s higher-acuity service lines.
WELL’s clinic transformation program is a disciplined, data-driven initiative designed to enhance efficiency, patient throughput, and profitability across clinics that are often operating at or near break-even at the time of acquisition. The program covers clinic integration, digital readiness, implementation of core technologies, and ongoing performance optimization, and is delivering measurable improvements in operating performance across WELL’s network.
Affiliate Clinic Network Expands to 74 Locations with National Retail Partner
WELL’s Affiliate Clinic network has grown to 74 licensee locations across Canada, up from 59 locations at the time WELL entered its ten-year strategic alliance with a large retailer in December 2024. The network now spans six provinces: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Québec, with expansion achieved through a combination of greenfield clinic development and the reopening of previously closed locations formerly operated by the prior provider.
Affiliate clinics are physician or third-party-owned and operated practices located within WELL-managed clinic spaces inside high-traffic retail locations. These practices retain full control over their clinical and staffing operations while benefiting from WELL-controlled real estate, national scale, and optional access to WELL’s digital and operational support tools. The model is highly recurring, high-margin, and capital-light, and also represents an attractive cross-sell channel for WELLSTAR’s digital health solutions, including EMR, billing and revenue cycle management, patient engagement, and AI-enabled clinical and administrative tools.
Strong Momentum in CardiologyNow Virtual Visits
CardiologyNow is WELL Health Diagnostics’ rapid-access virtual cardiology consultation service, powered by a WELLSTAR digital platform, which connects patients and primary care providers with specialty care and diagnostic imaging. The platform delivered a 65% year-to-date increase in consultation billings compared to the same period last year.
Growth has been driven by the addition of 35 new cardiologists and internal medicine physicians, expanded referral intake from WELL’s primary care network, and increased service demand. WELL’s recently announced partnership with AliveCor is expected to further contribute to this momentum in Q2-2026 and beyond, expanding access to remote cardiac monitoring and enabling timely cardiologist oversight through AI-powered ECG technology.
As Canada’s largest cardiology and medical diagnostic network, WELL’s platform serves as a key access point into its broader diagnostics ecosystem, enabling timely virtual consultations and efficiently directing patients into its national network of diagnostic centres for follow-up testing and care. WELL plans to continue scaling the platform through additional recruitment of cardiologists and internal medicine specialists.
Dr. Paul Kannampuzha, Chief Cardiology Officer at WELL, commented, “Wait times for specialist consultations remain a significant barrier to timely cardiac care in Canada. CardiologyNow was built to close that gap, and the momentum we are seeing in Q1 reflects the strength of this model. By combining rapid-access virtual consultations with a growing roster of cardiologists and seamless integration into our national diagnostic network, we are able to get patients in front of the right specialist quickly and move them into testing and treatment without delay.”
Footnotes:
- Patient visits are defined by any interaction a patient has with a WELL practitioner through all sources and channels, including in-person, virtual, diagnostic testing consultations, and asynchronous physician consultations. Patient visit metrics are preliminary and subject to change from the Company’s final Q1-2026 reported metrics.
- Preliminary financial results are subject to change and may differ materially from the Company’s final reported Q1-2026 financial results. Adjusted EBITDA is a non-GAAP measure. EBITDA represents net income (loss) before interest, taxes, depreciation and amortization. The Company defines Adjusted EBITDA as EBITDA, adjusted for items not reflective of ongoing operating performance, including transaction, restructuring and integration costs, share-based payments, time-based earn-out expense, changes in fair value, foreign exchange gains/losses, and certain revenue recognition adjustments under IFRS 15. Adjusted EBITDA should not be considered an alternative to net income (loss) or cash flow from operating activities determined in accordance with IFRS.
- Clinic Absorptions refers to clinics joining WELL’s clinic network for nominal consideration, contributing to organic growth.
WELL HEALTH TECHNOLOGIES CORP.
Per: “Hamed Shahbazi”
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL Health Technologies Corp. (TSX: WELL) is Canada’s largest outpatient healthcare company and a leading provider of technology-enabled healthcare solutions. WELL is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI, and every piece of health data is protected. WELL owns and operates more than 250 clinics in Canada, supporting more than 4 million annual patient visits. Through its subsidiary WELLSTAR, WELL provides electronic medical records, AI-powered clinical tools, patient engagement platforms and IT management services. WELL provides cybersecurity services through its CYBERWELL subsidiary. WELL is publicly traded on the TSX under the symbol “WELL” and on the OTC Exchange under the symbol “WHTCF.” To learn more, please visit: www.well.company.
Forward Looking Statements
This news release contains “Forward-Looking Information” within the meaning of applicable Canadian securities laws, including statements regarding preliminary Q1-2026 financial results and patient visits, the continued expansion of WELL’s Affiliate Clinic network, the growth of CardiologyNow, scaling the platform through additional recruitment of cardiologists and internal medicine specialists and future expansion plans. Forward-Looking Information is based upon a number ofestimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies outside of WELL’s control. Such Forward-Looking Information is not a guarantee of future performance. WELL’s comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL’s control, and undue reliance should not be placed on such information. Forward-Looking Information is qualified in its entirety by inherent risks and uncertainties, including: direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare and technology sectors generally; regulatory and legislative changes; that market competition may affect the business, results and financial condition of WELL; and other risk factors identified in documents filed by WELL under its profile at www.sedarplus.ca, including its most recent Annual Information Form and its Management’s Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
For further information:
Pardeep Sangha
Vice President, Investor Relations
investor@well.company
604-628-7266
