Sun Life completes the acquisition of Dialogue

On October 3, 2023, Sun Life Financial Inc. (“Sun Life”) announced the completion of its acquisition of Dialogue Health Technologies Inc. ("Dialogue").

Under the terms of the arrangement agreement, announced July 26, 2023, Sun Life indirectly acquired all of the issued and outstanding common shares of Dialogue, other than those already owned by Sun Life Assurance Company of Canada ("SLA") and certain common shares owned by members of Dialogue management, for C$5.15 in cash per common share. The consideration implied an equity value of approximately C$365 million, as calculated on a fully diluted basis.

The transaction constituted a “business combination" for purposes of MI 61-101 and was completed by way of a statutory plan of arrangement under the Canada Business Corporations Act.

Sun Life rolled out Dialogue's services to its Group Benefits Clients in March 2020 under the name Lumino Health Virtual Care. Over 800,000 Sun Life Clients and their family members, including Sun Life employees, have access to this service.

Further information can be found on Canada Newswire’s website.

Dialogue is Canada's premier virtual healthcare and wellness platform, providing affordable, on-demand access to quality care.

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 June 30, 2023, Sun Life had total assets under management of C$1.37 trillion.