{"id":47221,"date":"2022-08-12T00:01:56","date_gmt":"2022-08-11T22:01:56","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/lifeworks-reports-q2-2022-results-court-approval-and-key-regulatory-approvals-for-transaction-with-telus-and-a-conditional-agreement-to-acquire-benestar\/"},"modified":"2022-08-12T00:01:56","modified_gmt":"2022-08-11T22:01:56","slug":"lifeworks-reports-q2-2022-results-court-approval-and-key-regulatory-approvals-for-transaction-with-telus-and-a-conditional-agreement-to-acquire-benestar","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/lifeworks-reports-q2-2022-results-court-approval-and-key-regulatory-approvals-for-transaction-with-telus-and-a-conditional-agreement-to-acquire-benestar\/","title":{"rendered":"LifeWorks reports Q2 2022 results, court approval and key regulatory approvals for transaction with TELUS and a conditional agreement to acquire Benestar"},"content":{"rendered":"
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\nNot for distribution to U.S. news wire services or for dissemination in the U.S.<\/b>\n<\/p>\n

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TORONTO–(BUSINESS WIRE)–LifeWorks Inc. (the “Company” or “LifeWorks\u201d) (TSX: LWRK) today reported its financial results for the three and six-month period ended June 30, 2022 (all amounts are in Canadian dollars, unless noted otherwise).\n<\/p>\n\n\n\n\n
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\nLifeWorks acquisition by TELUS<\/b>\n<\/p>\n

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  • \nBinding agreement for C$2.9 billion acquisition (the \u201cArrangement\u201d) announced on June 16\n<\/li>\n
  • \nLifeWorks\u2019 Board of Directors unanimously determined that the Arrangement is in the best interests of the Company and is fair to LifeWorks\u2019 shareholders\n<\/li>\n
  • \nShareholders overwhelmingly approved the Arrangement at Special Meeting of Shareholders on August 4\n<\/li>\n
  • \nThe Company has received the required regulatory approvals under the Canadian Competition Act and the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended\n<\/li>\n
  • \nOn August 11, the Company obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the Arrangement\n<\/li>\n
  • \nExpected closing of transaction on or about Q4 2022\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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\nDelivered solid Adjusted EBITDA margins and revenues in Q2<\/b>\n<\/p>\n

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  • \nAdjusted EBITDA margins of 18.7% for the quarter were consistent with prior quarter\n<\/li>\n
  • \nSecond quarter reported revenue growth of 1.6%, an improvement over Q1 2022\n<\/li>\n
  • \nTech-enabled revenues grew 6.0% over the comparable period\n<\/li>\n
  • \nSecond quarter profit of $5 million\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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\nContinued growth as trusted leader in employee mental health<\/b>\n<\/p>\n