After scaling its operations at an incredible pace, B.C.’s fastest-growing company is planning to split into two separate entities that would individually trade on the Toronto Stock Exchange.Well Health Technologies Corp. topped BIV’s Top 100 Fastest-Growing Companies list this year, registering revenue growth of 2,265.2 per cent between 2019 and 2023. In its 2023 fiscal year, the company generated $776,054,000 in revenue, up from $32,810,782 in 2019.
The plan is for the Well Health division that runs medical clinics to own a majority stake in the technology company—dubbed Well Provider Solutions—which could go public in the first half of 2025, according to Shahbazi. Shahbazi said he anticipates hiring a CEO for Well Provider Solutions, and that he would serve as its chair while continuing to serve as CEO of Well Health.
“When we bought Wisp, it was doing about US$30 million in revenue,” he said. “Now it’s doing about US$75 million in revenue.” “It is also the largest provider of imaging diagnostics, such as ultrasound and CT scans,” he said. “In Ontario, there’s no larger provider of these services outside of the hospital channel.”
He hired someone to manage the Wellness venture that he was running off the side of his desk. Originally named Wellness Lifestyles, that venture was focused on what Shahbazi described as “aging gracefully.” Shahbazi stayed on for approximately six months before he left to grow his secondary Wellness company, which had started to buy medical clinics.