Investment is aligned to Sun Life's strategic focus on
sustainability and empowering Canadians to live healthier
lives
TORONTO, July 29, 2020 /CNW/ - Virtual care is
revolutionizing Canadian health care. Canadians are turning to
their phones and tablets to connect virtually with a medical
professional for physical and mental health concerns or even to
fill a prescription. Today Sun Life announced a strategic
commercial partnership and $32.7
million equity investment in Dialogue, Canada's leading telemedicine provider. Sun
Life will hold a minority ownership in Dialogue with customary
rights to acquire additional equity.
This round of financing also includes follow-on investments by
existing backers Caisse de dépôt et placement du Québec (CDPQ),
Portag3 Ventures, White Star Capital, HV Holtzbrinck Ventures,
First Ascent Ventures and Walter Ventures. National Bank Financial
Inc. acted as financial advisor to Dialogue in this financing.
"The need for Canadians to have alternative ways to access
health care continues to grow," said Dave
Jones, Senior Vice-President, Group Benefits, Sun Life
Canada. "Virtual care is an important part of the future of
Canadian health care. The combination of innovative technology and
the necessity of social distancing during the pandemic has rapidly
changed the virtual health care landscape. Our investment in
Dialogue represents Sun Life's commitment to helping Canadians live
healthier lives through access to health care, whenever and
wherever they need it. This investment is our next step, as we
continue to innovate for our Clients and empower them to manage
their health and well-being."
"Virtual care will remain an essential resource now and in the
future," said Cherif Habib, CEO of Dialogue. "While we navigate the
changing health care landscape, Dialogue is proud to provide a
virtual health care service that is easy, convenient and helps keep
Canadians safe at home. Having strong support from partners such as
Sun Life allows us to remain focused on providing quality care and
expanding our services to help millions of Canadians stay
healthy."
At Sun Life, helping people live healthier lives is an important
part of our business and key focus area of the company's
sustainability plan. The COVID-19 pandemic has put a spotlight on
the importance of expanding the traditional health care model.
Virtual care, which provides access to medical practitioners in the
comfort of home, helps people continue to physically distance and
alleviate pressure on the Canadian health care system. Since the
pandemic started, Dialogue has seen a sharp increase in usage of
the virtual care service. The collaboration between Sun Life and
Dialogue gives Canadians virtual access to medical care and
connects them directly with a health care professional from
anywhere in the country, at any time. The investment follows
Sun Life's roll out of Lumino Health Virtual Care, powered by
Dialogue in March 2020.
Lumino Health Virtual Care
Lumino Health Virtual Care
is offered to Sun Life Group Benefits Clients with an Extended
Health Care (EHC) benefit. The virtual care service is powered by
Dialogue and connects Canadians with local health care
providers.
Clients can easily connect to the Lumino Health Virtual Care
service through a mobile app or online. Once connected, the service
will triage a Client before providing direct access to a nurse or
physician. The service provides Clients with acute physical and
mental health care, similar to medical services provided at a
primary care clinic. A multi-disciplinary team will review
symptoms, provide an assessment, create a personalized care plan,
write prescriptions, and make referrals to specialists or in-person
care if necessary.
About Sun Life
Sun Life is a leading international
financial services organization providing insurance, wealth and
asset management solutions to individual and corporate Clients. Sun
Life has operations in a number of markets worldwide, including
Canada, the United States, the United Kingdom, Ireland, Hong
Kong, the Philippines,
Japan, Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2020, Sun Life
had total assets under management of $1,023
billion. For more information, please visit
www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
About Dialogue Technologies Inc.
Dialogue is the leading Canadian telemedicine provider pioneering
virtual healthcare dedicated exclusively to the world's leading
organizations. We drive real health outcomes through amazing
healthcare experiences, an employee engagement playbook, and a
relentless focus on patient safety and security. For more
information, please visit www.dialogue.co
Note to editors: All figures in Canadian dollars
Media Relations Contacts:
Laura Torchia
Manager, Corporate Communications
T. 416-540-5918
laura.torchia@sunlife.com
Jean-Christophe de Le Rue
Director of Public and Government Relations
Dialogue
T. 613-806-0671
jcdlr@dialogue.co
SOURCE Sun Life Financial Inc.