Press release – For immediate release
MONTREAL, November 10, 2022 – Montreal-based ELNA Medical (“ELNA”), Canada’s largest integrated network of medical clinics, announced today its acquisition of m-Health Solutions, a leading remote health diagnostics and monitoring solution for ambulatory patients since 2010.
Used by more than 4,300 physicians and specialists in over 60 hospitals and medical establishments across Ontario, m-Health Solutions provides ground-breaking in-home cardiac diagnostic and real-time monitoring systems. These include its wearable ECG technologies (Holter monitors), and a cloud-based AI-enabled reporting service that deliver faster results and a quicker treatment pathway for patients with cardiovascular diseases and other conditions, including sleep apnea.
“At ELNA we’re transforming the Canadian healthcare experience by making quality care not only accessible but convenient, when and where patients want it, through our three-pronged omnichannel ecosystem comprised of our 95 bricks and mortar clinics and points of care, virtual care offerings and innovative in-home solutions,” said Laurent Amram, President and Founder of ELNA Medical.
“Advanced technologies that keep patients and physicians connected are driving the future of healthcare. Our strategic acquisition of m-Health Solutions enables us to become a remote patient diagnostics and monitoring solutions leader, while looking to the future by providing new services that ensure better continuity of care, better data for treating physicians and ultimately better outcomes for patients,” added Laurent Amram.
ELNA’s acquisition of m-Health Solutions follows its investment earlier this year in virtual care provider MD Connected, a leading Ontario-based telemedicine services company connecting patients with medical practitioners via fully digital and human-assisted telemedicine clinics.
“ELNA shares our values and commitment to using technology to improve healthcare for patients and physicians alike. By joining forces, we will be in an even stronger position to continue providing the rapid, accurate and flexible diagnostics and monitoring that we have always prided ourselves on to an even larger number of patients nationally,” said Sandy Schwenger, CEO of m-Health Solutions.
“Improving the well-being of Canadians is at the heart of the National Bank’s core values. National Bank Private Equity was pleased to provide financial support to ELNA Medical for this significant transaction,” said Luc Ménard, Executive Vice-President, General Manager and Head of National Bank Private Investments.
CIBC Mid-Market Investment Banking acted as exclusive financial advisor to m-Health Solutions.
About ELNA Medical
ELNA Medical is Canada’s largest network of medical clinics. Serving more than 1.5 million Canadians every year, ELNA is transforming the future of healthcare delivery and continuity of care by building a seamlessly integrated omnichannel ecosystem. Always striving to improve and optimize access to quality care, ELNA empowers patients and practitioners by leveraging and building state-of-the-art technologies, with a focus on AI-powered systems, and strategic partnerships with global healthcare leaders to provide better outcomes for Canadians. ELNA combines its best-in-class medical offering with access to premier diagnostic services, thanks to its wholly owned subsidiary, CDL Laboratories, a leader in round-the-clock medical testing for more than three decades.
About m-Health Solutions
Since 2010, m-Health Solutions has been providing innovative cardiac monitoring technologies and cloud-based reporting services throughout Canada. Our evidence-based offerings focus on improving the patient monitoring experience while suppling better connected care which reduces wait times and hospitalization costs. Currently utilized by hospital networks and by more than 4,300 physicians and specialists across Ontario, our wearable ECG technologies allow patients full mobility to go about their daily routine, which dramatically improves patient compliance. Our cloud-based reporting services deliver faster results to facilitate a quicker treatment pathway.
Senior Manager, Communications and Public Relations