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TELUS (TU) to Buy LifeWorks for C$2.9B, Eyes Healthcare Market
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TELUS Corporation (TU - Free Report) inked an agreement to acquire Canada-based LifeWorks as it looks to expand its presence in the lucrative digital health services market. Digital and telehealth services witnessed significant traction amid the pandemic and are now considered a lucrative opportunity in the healthcare market.
LifeWorks provides digital and in-person health care solutions. TELUS will be integrating LifeWorks’ employee and family assistance program (EFAP) and benefits administration capabilities to TELUS Health’s existing portfolio of digital health solutions.
TELUS expects the integration of LifeWorks solutions and the TELUS Health platform to provide a competitive edge as the integration represents “an unparalleled go-to-market comprehensive health and mental wellness offering.” LifeWorks has 25,000 strong client base and serves over 36 million individuals and their families across 160 countries.
With the LifeWorks acquisition, TELUS is looking at enhancing TELUS Health product offerings to international clients through synergies with TELUS International.
TELUS is providing shareholders with an option wherein it will be shelling out C$33.00 per share in cash to shareholders bringing the deal value to C$2.3 billion. The purchase price represents an 89% premium to the weighted average price of the shares of LifeWorks for the 20 trading days ended on Jun 14, 2022.
Shareholders will also have another option wherein TELUS will be paying the consideration in stock and cash to shareholders in the proportion of 50:50. TELUS is also taking over LifeWorks net debt of $600 million, taking the total deal value to C$2.9 billion. The transaction is subject to approvals from the required court, LifeWorks shareholders, the stock exchange and regulatory authorities. The transaction is subject to customary conditions and is expected to close on or about the fourth quarter of 2022.
TELUS is a leading Canadian telecom service provider based in Vancouver, Canada. TELUS provides wireless, wireline and Internet communications services for voice and data to businesses and consumers. The company operates as the incumbent local exchange carrier in British Columbia, Alberta and parts of Quebec.
The company achieved a strong foothold in the Canadian healthcare telecom market by acquiring Emergis, a business process outsourcer specializing in healthcare and financial services. This acquisition strengthened TELUS’ industry solutions for healthcare and financial services.
At present, TELUS carries a Zacks Rank #3 (Hold). Shares of TU have lost 3.8% compared with the industry’s decline of 2.7% in the past year.
The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.
Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 4.96%. Shares of VSH have declined 17.7% in the past year.
The Zacks Consensus Estimate for InterDigital 2022 earnings is pegged at $3.28 per share, up 5.1% in the past 60 days. IDCC’s long-term earnings growth rate is pegged at 15%.
InterDigital’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 141.1%. Shares of IDCC have lost 21.9% of their value in the past year.
The Zacks Consensus Estimate for Avnet’s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.
Avnet’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 21.22%. Shares of Avnet have grown 7.8% in the past year.
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TELUS (TU) to Buy LifeWorks for C$2.9B, Eyes Healthcare Market
TELUS Corporation (TU - Free Report) inked an agreement to acquire Canada-based LifeWorks as it looks to expand its presence in the lucrative digital health services market. Digital and telehealth services witnessed significant traction amid the pandemic and are now considered a lucrative opportunity in the healthcare market.
LifeWorks provides digital and in-person health care solutions. TELUS will be integrating LifeWorks’ employee and family assistance program (EFAP) and benefits administration capabilities to TELUS Health’s existing portfolio of digital health solutions.
TELUS expects the integration of LifeWorks solutions and the TELUS Health platform to provide a competitive edge as the integration represents “an unparalleled go-to-market comprehensive health and mental wellness offering.”
LifeWorks has 25,000 strong client base and serves over 36 million individuals and their families across 160 countries.
With the LifeWorks acquisition, TELUS is looking at enhancing TELUS Health product offerings to international clients through synergies with TELUS International.
TELUS is providing shareholders with an option wherein it will be shelling out C$33.00 per share in cash to shareholders bringing the deal value to C$2.3 billion. The purchase price represents an 89% premium to the weighted average price of the shares of LifeWorks for the 20 trading days ended on Jun 14, 2022.
TELUS Corporation Price and Consensus
TELUS Corporation price-consensus-chart | TELUS Corporation Quote
Shareholders will also have another option wherein TELUS will be paying the consideration in stock and cash to shareholders in the proportion of 50:50. TELUS is also taking over LifeWorks net debt of $600 million, taking the total deal value to C$2.9 billion. The transaction is subject to approvals from the required court, LifeWorks shareholders, the stock exchange and regulatory authorities. The transaction is subject to customary conditions and is expected to close on or about the fourth quarter of 2022.
TELUS is a leading Canadian telecom service provider based in Vancouver, Canada. TELUS provides wireless, wireline and Internet communications services for voice and data to businesses and consumers. The company operates as the incumbent local exchange carrier in British Columbia, Alberta and parts of Quebec.
The company achieved a strong foothold in the Canadian healthcare telecom market by acquiring Emergis, a business process outsourcer specializing in healthcare and financial services. This acquisition strengthened TELUS’ industry solutions for healthcare and financial services.
At present, TELUS carries a Zacks Rank #3 (Hold). Shares of TU have lost 3.8% compared with the industry’s decline of 2.7% in the past year.
Stocks to Consider
A few other top-ranked stocks from the broader technology sector worth consideration are InterDigital (IDCC - Free Report) , Avnet (AVT - Free Report) and Vishay Intertechnology (VSH - Free Report) . While Avnet and InterDigital sport a Zacks Rank #1, Vishay Intertechnology carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.
Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 4.96%. Shares of VSH have declined 17.7% in the past year.
The Zacks Consensus Estimate for InterDigital 2022 earnings is pegged at $3.28 per share, up 5.1% in the past 60 days. IDCC’s long-term earnings growth rate is pegged at 15%.
InterDigital’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 141.1%. Shares of IDCC have lost 21.9% of their value in the past year.
The Zacks Consensus Estimate for Avnet’s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.
Avnet’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 21.22%. Shares of Avnet have grown 7.8% in the past year.