Ms. Solina Chau of Horizon Ventures (HK) announced a significant private purchase of WELL shares. The acquirer purchased 18.7M shares at C$4.34/sh., representing a total purchase price of $81M. Previously, the acquiror held ~7% of WELL's outstanding shares. Following the transaction, this puts it at 14.53%. Ms. Chau is the co-founder of Horizon Ventures, a private investment arm of Mr. Li Ka Shing, who were early supporters of WELL. The transaction certainly implies a high vote of confidence in the company. The stock was strong last week (up 24c) and checked back a bit yesterday. Going forward we would still look to earnings and M&A activity as catalysts. The stock has been quiet but is still up 14% YTD. We would continue to view the long term as quite positive for the company. Its time will come.
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