Telus Is Putting Its Health Business Up for Grabs

Telus says it is exploring ways to bring in a partner for its Telus Health business, a move that could help the company raise cash and reduce debt.

The Vancouver-based telecom announced on Thursday it has hired TD Securities and Jefferies as financial advisers to look at different options for “monetizing” Telus Health. That could include selling a stake in the business or forming a strategic partnership, though Telus has not announced any specific deal yet.

Telus says Telus Health has grown into a large global operation, now serving more than 160 million people across more than 200 countries and territories. As of the third quarter of 2025, the unit generated about $1.5 billion in revenue so far this year, along with $258 million in operating earnings and $99 million in cash flow.

CEO Darren Entwistle said on Thursday in a statement he believes Telus Health has reached a point where a partner could help it grow faster, especially as the business expands internationally and adds more digital and AI-driven health products. He said Telus is looking for a partner that can bring additional expertise, customers, and financial resources.

The move is also tied to Telus’s broader effort to reduce its debt. The company said selling or partnering parts of its business, including Telus Health, is one way it plans to strengthen its balance sheet over the next couple of years. Telus currently expects its debt-to-earnings ratio to improve steadily through 2027.

Telus added that this review of Telus Health fits with other steps it has already taken to improve cash flow and simplify its finances. For now, the company says it is still early in the process and is working with its advisers to decide the best path forward.