Telus bolsters its Health division

Article Excerpt

TELUS CORP. $29 is a buy. The company (Toronto symbol T; Utilities sector; Shares outstanding: 1.4 billion; Market cap: $40.6 billion; Dividend yield: 4.7%; Takeover Target Rating: Medium; www.telus.com) is now buying LifeWorks Inc. (Toronto symbol LWRK) for $2.9 billion. Formerly known as Morneau Shepell Inc., this firm sells software and computer systems that help businesses manage a variety of functions, including employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement consulting, and actuarial and investment services. Telus will merge LifeWorks with its Telus Health division, which helps clinics, pharmacies and hospitals manage electronic patient records. The company expects the merger will let it cut $170 million from its annual costs in the first three to five years. Telus is a buy. buy…

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