Move Health Holdings Corp. and No Fear Counselling Corp. Complete Merger Transaction
VANCOUVER, British Columbia and TORONTO, Sept. 17, 2024 (GLOBE NEWSWIRE) — Move Health Holdings Corp. (“Move Health”) and No Fear Counselling Corp. (“No Fear Counselling”), two of Canada’s foremost health and wellness organizations, are pleased to announce the successful completion of their highly anticipated all-share merger (the “Transaction”), following unanimous approval at a Special Shareholders Meeting September 13, 2024.
Initially announced in a joint press release dated June 27, 2024, the newly combined entity now operates across 70+ locations with a team of over 300+ dedicated physicians, nurse practitioners, and licensed therapists. The organization is responsible for:
• Annual Revenue: ~$10M
• Gross Margins: 38%
• 24/7 Primary Care through Lyte Medical telemedicine platform
• Allied health clinics offering physiotherapy, chiropractic, registered massage therapy, kinesiology, acupuncture, cold laser therapy, bracing and orthotics
• Mental health support through No Fear Counselling
• Medical cannabis education and prescriptions through ReLeave Therapeutics
“This is a momentous day for shareholders, patients, and stakeholders of both companies with Move Health and No Fear Counselling officially integrating to create a Canadian leader in holistic healthcare services,” said Gary Prihar, Chair & CEO, Move Health. “With the successful completion of this merger, we are now poised to extend our reach to better serve millions of Canadians with their healthcare needs.”
“With a broadened spectrum of patient services, cutting-edge integrated technology, and enhanced synergies, we are strategically positioned to fulfill our vision of accessible, patient-centric healthcare across Canada,” added Harry Parmar, CEO, No Fear Counselling.
Following the closing of the Transaction, the combined company’s board will now consist of five directors: Sharon Castelino, MBA, LLM, ICD.D (Lead Director), Gary Prihar, CPA, CA, Harry Parmar, Manny Dhaliwal, and Elizabeth Stephenson.
“We extend our deepest gratitude to the outgoing Board Directors of Move Health for their unwavering support and invaluable contributions,” Prihar added. “Their leadership was instrumental in driving the organization’s 5x growth over the past five years, paving the way for this next exciting chapter.”
As Move Health and No Fear Counselling embark on this new chapter, the combined organization is committed to advancing the possibilities in healthcare. By integrating innovative technology with comprehensive care services, the company is poised to lead the industry, ensuring that every Canadian has access to the highest standard of care, wherever they may be.
About Move Health
Founded in 2019, Move Health is a premier national primary and allied healthcare provider. Through its telemedicine subsidiary, Lyte Medical, patients have 24/7 access to comprehensive virtual care, including lab requisitions, prescription refills, specialist referrals, injury assessment and mental health counselling, from the comfort of home or office. Through ReLeave Therapeutics, patients can access medical cannabis education and prescriptions. Move Health also offers in-person care at allied health clinics, providing physiotherapy, chiropractic, registered massage therapy, kinesiology, acupuncture, bracing, orthotics, and more. Services extend to Corporate Wellness Programs, medical-legal assessments, and insurance claims. For more information, visit www.movehealthholdings.com.
About No Fear Counselling
Established in 2016, No Fear Counselling’s mission is to make a difference in the world of mental health. No Fear Counselling provides accessible, compassionate, and effective mental health support with the vision of a world where no one has to face their struggles alone. No Fear Counselling operates in over 60+ locations with a collective of over 200 talented and empathetic therapists passionate about helping individuals, children, groups and couples. For more information, please visit https://www.nofearcounselling.com.
Contact Information
Gary Prihar, Chair, CEO & Co-Founder, Move Health Holdings Corp.
Harry Parmar, CEO, No Fear Counselling Corp.
