Digital health company Well Health Technologies Corp. has announced it's buying Calgary-based private healthcare clinic Inliv for $1.6 million, to give the company its first physical presence Alberta.

“We are intent on continuing to establish our technology enabled clinical group across the country," Well’s Chief Medical Officer, Michael Frankel, said in a press release.

Inliv reported revenues of $7.3 million in the 12 months leading up to the end of April, according to the press release. More than 85 per cent of its revenue came from recurring membership fees. The company has more than 50 people on staff, including 23 health care providers, and more than 1,000 clients.

Well indicated it’s on the hunt for more acquisitions of this nature.

“We are actively looking at similar opportunities across the country as we look to establish Well as one of the leading national providers of executive health in Canada,” Frankel said.

The Inliv acquisition will bolster Well’s revenue, which hit a record high in May after patient visits jumped by 40 per cent year-over-year. Well also raised its sales forecast. It now expects sales to exceed $525 million in 2022.

The acquisition is expected to close in the third quarter of 2022.