Acquisition of Workplace Options to Enhance TELUS Health's Global Reach and Technology Platform for Employee Assistance Programs
CHICAGO, May 14, 2025 -- GTCR, a leading private equity firm, announced today that it has simultaneously signed and closed a definitive agreement to provide a strategic, structured minority investment to support TELUS Health's recently announced acquisition of Workplace Options (WPO). TELUS Health is a leading global provider of payor technology, pharmacy management technology, electronic medical records and supplemental benefits for providers, payors, employers and enterprise customers. TELUS Health's portfolio of products and services enables customers globally to integrate technology to improve healthcare delivery and patient outcomes across the healthcare ecosystem. In 2024, TELUS Health generated revenue of CAD $1.8 billion. The preferred equity investment is associated with the acquisition of WPO, which is highly complementary to TELUS Health's current offering, expanding the Company's geographic reach, adding to its breadth of service offerings and investing in additional technology platforms.
TELUS Health's acquisition of WPO reinforces the company's thesis in building a scaled, global provider of health and wellbeing products and services that improves health outcomes. The acquisition allows TELUS Health to expand its service offerings to existing customers, extend its geographic reach and strengthen its current technology platform. TELUS Health expects to realize commercial synergies through cross-selling channels and improved go-to-market strategies. The investment aligns well with GTCR's strong track record investing across healthcare, corporate partnerships and structured minority investments. We view this transaction as an excellent opportunity for TELUS Health to leverage our historical expertise with a new value-add partner in support of their mission to grow and scale globally in the employer-funded healthcare space.
"We are thrilled to partner with TELUS Health in its acquisition of WPO to support its continued growth in the healthcare sector, where we have deep domain expertise," said Dean Mihas, GTCR co-CEO and Managing Director. "TELUS Health's innovative approach to healthcare technology and its commitment to improving patient outcomes aligns very well with GTCR's investment philosophy."
"We are pleased to structure a bespoke transaction to meet the needs of our partner," said Jason Prager, Managing Director. "Providing flexible preferred equity and debt capital solutions to outstanding management teams, coupled with strategic partnership and insights to drive value creation, is core to GTCR's approach to delivering value to our portfolio companies, investors and other stakeholders."
About TELUS Health
TELUS Health is on a mission to become the most trusted wellbeing company in the world by enhancing the overall efficiency of healthcare and championing workplace wellbeing. By integrating advanced healthcare technology with comprehensive employee support services, TELUS Health provides a holistic approach to primary and preventive health and wellbeing, enhancing more than 150 million lives across more than 200 countries and territories. Our innovative digital health platforms, including electronic medical records (EMRs) and virtual care solutions, empower healthcare professionals, employers and governments to deliver personalized care efficiently. Our employee wellbeing programs empower individuals by offering extensive support through Employee and Family Assistance Programs (EFAPs), mental health resources, financial counselling and workplace wellness initiatives. At TELUS Health, we are committed to revolutionizing healthcare to ensure people receive the support they need and employees thrive both personally and professionally. Together, let's make the future friendly. For more information please visit: www.telushealth.com.
About GTCR
Founded in 1980, GTCR is a leading private equity firm that invests behind The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $30 billion in over 280 companies, and the firm currently manages $45 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.
GTCR
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