Canadian Healthcare Tech Stock Soars on Acquisition

WELL Health Technologies Corp. (TSX:WELL), a Canadian healthcare tech stock, climbed after announcing its expansion into the U.S. market

Sean Mason | September 1, 2020 | SmallCapPower

A U.S. acquisition fired up a Canadian healthcare tech stock Tuesday. Here’s some small stocks making big moves on Tuesday, September 1, 2020 (as of 4 pm EST):

WELL Health Technologies Corp. (TSX:WELL), a Canadian healthcare tech stock, surged 28% to $6.18 on Tuesday after announcing its expansion into the U.S. market after agreeing to take a majority stake in Circle Medical Ltd. for a total consideration of approximately US$14 million. The Company added that Circle Medical’s current revenue run rate is almost US$5 million per year.

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As well, shares of CloudMD Software & Services Inc. (TSXV:DOC) gained 5% to $1.56 as the telehealth company said its Q2 revenue rose 163% to $2.8 million, while its net loss for the period increased to $2.8 million from $1.1 million a year earlier.

Environmental Waste International Inc. (TSXV:EWS), meanwhile, reported that it has received Environmental Compliance Approvals from the Ministry of Environment, Conservation and Parks to operate its tire recycling plant in Sault Ste. Marie, Ontario as a commercial facility. Environmental Waste International stock popped 160% to $0.26 following the announcement.

Finally, Titan Mining Corporation (TSX:TI) shares continued to move higher Tuesday, up 33% to $0.50 following a 27% gain on Monday, after the junior miner announced that it has acquired an option to earn an 80% interest in the Mineral Ridge Property in Nevada by spending US$35 million on exploration over five years.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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