Sun Life to acquire Canadian telehealth pioneer Dialogue for CAD $365M

Dialogue serves nearly 2.8 million members

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On July 26, financial services company Sun Life announced it is acquiring Canadian telehealth pioneer Dialogue Health Technologies.

Here are a few key points:

• Founded in 2016, Montreal-based Dialogue serves nearly 2.8 million members across 50,000 organizations in Canada and internationally. The company completed an IPO in 2021 (on the Toronto Stock Exchange).

• Dialogue’s suite of virtual healthcare and well-being services includes physical health, mental health support, an Employee Assistance Program (EAP), and personalized wellness and fitness resources.

• The acquisition builds on Sun Life's existing partnership with and prior investments in Dialogue. Sun Life will indirectly acquire all outstanding common shares of Dialogue for $5.15 per Common Share. The total equity value of Dialogue is CAD $365 million (roughly USD $275 million) on a fully diluted basis.

• The transaction is expected to close this year, subject to customary closing conditions, shareholder approval, and regulatory clearance.