Sun Life leads a $43 million round of financing in Dialogue

Toronto- based Sun Life Financial announced a partnership and $32.7 million equity investment in Dialogue , a Montreal-based telemedicine platform founded in 2016 with a team of ~408 people. This round of financing includes follow-on investments by existing backers Caisse de dépôt et placement du Québec (CDPQ), Portag3 Ventures, White Star Capital, HV Holtzbrinck Ventures, First Ascent Ventures and Walter Ventures. National Bank Financial Inc. acted as financial advisor to Dialogue in this financing.

Founded in 1865, Sun Life Financial now holds a minority ownership in Dialogue with customary rights to acquire additional equity.

“The need for Canadians to have alternative ways to access health care continues to grow. Virtual care is an important part of the future of Canadian health care. The combination of innovative technology and the necessity of social distancing during the pandemic has rapidly changed the virtual health care landscape. Our investment in Dialogue represents Sun Life’s commitment to helping Canadians live healthier lives through access to health care, whenever and wherever they need it. This investment is our next step, as we continue to innovate for our Clients and empower them to manage their health and well-being.” – Dave Jones, Senior Vice-President, Group Benefits, Sun Life Canada.

“Virtual care will remain an essential resource now and in the future. While we navigate the changing health care landscape, Dialogue is proud to provide a virtual health care service that is easy, convenient and helps keep Canadians safe at home. Having strong support from partners such as Sun Life allows us to remain focused on providing quality care and expanding our services to help millions of Canadians stay healthy.” – Cherif Habib, CEO of Dialogue.

The collaboration between Sun Life and Dialogue gives Canadians virtual access to medical care and connects them directly with a health care professional from anywhere in the country, at any time. The investment follows Sun Life’s roll out of Lumino Health Virtual Care, powered by Dialogue in March 2020.