Well.ca has been acquired by McKesson Canada, which builds supply chain solutions for pharmacies, manufacturers, and governments.
Well.ca’s marketplace offers natural healthcare and beauty products, and reported in 2015 that it had 50,000 products from over 3,000 brands on the site. At the time, CEO Rebecca McKillican said that the company was profitable.
McKesson Canada said this acquisition will allow its retail operations and Well.ca’s platform to better service customers thanks to a portfolio of technology, distribution, and innovation.
Founded by Ali Asaria, the company’s former CEO stepped down from his role in 2013 and founded Tulip Retail with $2.4 million in funding. That startup has since raised $50 million from Kleiner Perkins.
“Quality exits like this don’t stem from a ‘for sale’ sign tacked to the door.”
“Today’s customer wants a digital experience,” said Domenic Pilla, CEO of McKesson Canada. “Combined with McKesson Canada’s distribution network and retail footprint, patients and customers will have
convenient access and more choices to achieve their health and wellness goals.”
McKesson Canada has worked with Well.ca since its launch in 2008. It will operate as a distinct business within McKesson Canada, while retaining its existing brand and remaining headquartered in Guelph.
“Well.ca’s ‘digital-first’ approach to retail has continuously pushed the boundaries of the customer
experience in Canada,” said McKillican, CEO of Well.ca. “Together with McKesson Canada, we
will be able to establish new business relationships and accelerate our mission to help our customers live healthier and happier lives.”
Chris Arsenault, board member at Well.ca and CEO of company investor iNovia, said that it was a combination of valuation, price, and chemistry that triggered the sale.
“Quality exits like this don’t stem from a ‘for sale’ sign tacked to the door. Instead, it was Rebecca and the team’s long-term vision, strategic partnership thinking, hard work and conversation that ultimately closed the deal,” said Arsenault. “I have a lot of respect for Domenic and his team, as they showed leadership, determination, and transparency throughout this process.”