Dialogue Health Technologies (TSE: CARE), a Canadian virtual health and wellness platform, has entered into an agreement to offer its Employee Assistance (EAP) to approximately 38,000 Scotiabank employees in Canada effective April 1, 2022.
Scotiabank Chooses Dialogue’s EAP
Scotiabank has an international team of 90,000 employees and assets of approximately $1.2 trillion.
Following a competitive process, the 190-year-old bank opted for Dialogue to foster better organizational well-being, while providing a simplified and more efficient user experience for its employees and administrators of its internal programs.
Convenient Virtual Experience
Dialogue’s reimagined EAP is built around the employee experience and aims to deliver positive results faster than traditional EAP services. It offers 24/7 virtual access to professionals from multiple disciplines and offers essential support for a range of issues.
This agreement represents Dialogue’s largest win to date from a direct client for its EAP.
CEO Commentary
Dialogue CEO Cherif Habib said, “This agreement represents a significant milestone for Dialogue and an important validation from one of Canada’s largest employers and most esteemed companies. Today’s announcement is further evidence that our strategy of building a platform of fully-integrated health and wellness services is resonating with Canadian employers. We would like to thank Scotiabank for partnering with us on our common journey to improve the well-being of Canadians, and look forward to future opportunities to deepen our collaboration.”
Wall Street’s Take
On January 4, TD Securities analyst David Kwan kept a Buy rating on CARE and lowered its price target to C$10.50 (from C$13.50). This implies 101.9% upside potential.
Overall, CARE stock scores a Moderate Buy consensus rating based on two Buys. The average Dialogue Health Technologies price target of C$12.50 implies 140.4% upside potential to current levels.
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