On October 26, 2021, ChronoMétriq Inc. and Health Myself Innovations Inc. filed a Notice of Intention to make a proposal pursuant to the relevant provisions of the Bankruptcy and Insolvency Act. The companies collectively listed approximately $9.2 million in liabilities, including approximately $3.2 million of tax debt and approximately $2.9 to CIBC. The Debtors sought and obtained an order from the Superior Court of Québec approving a sale and investment solicitation process for the Debtors’ assets. Considering the liquidity constraints of the Debtors, the SISP provided for extremely ambitious timelines, calling for a closing less than one month following the beginning of the SISP.
TELUS Health Solutions Inc. provides information communication technology for telehealth, electronic health records, remote patient monitoring, mobile home and community care services.
ChronoMétriq Inc. and Health Myself Innovations Inc, doing business as Pomelo Health, designed, marketed and serviced healthcare management and patient engagement software for healthcare professionals, aimed to improve clinic productivity, efficiency and communication with patients.
Together with the TELUS legal team, Osler, Hoskin & Harcourt LLP advised TELUS Health Solutions Inc. with a team consisting of Sandra Abitan, Michael De Lellis, Julien Morissette, Ilia Kravtsov, Justin Kanji (Insolvency & Restructuring), Marc-William Carrothers, Asma Berrak (Corporate), Adam Kardash (Privacy and Data Management), Kelly Moffatt (Commercial), Alain Fournier, Patrick Marley (Tax) and Julien Ranger (Pensions & Benefits).