Hi Pina,
Both are very different companies. While Telus is very much in the telehealth space, it is still primarily a telecom company. As one of the big three, it forms an oligopoly with Rogers and BCE in this landscape. It is a Blue Chip company, a reliable dividend payer and one that is expected to grow by mid to high single digits.
WELL is a healthcare pureplay. It owns and operates a series of clinics, and has a suite of virtual health platforms. It does not pay a dividend, is not yet profitable but is expected to growth at a much faster pace than Telus. This is not all that surprising as Telus' sheer size makes it difficult to post meaningful growth numbers.
They are two very different investments and each carry very different risk profiles. WELL is the better option if you are comfortable taking on additional risk for the potential of higher growth. Telus is better if you are more of a defensive investor, prefer dividend stocks and are comfortable accepting a lower growth profile.
I do agree that consolidation is coming - it has already begun. Teladoc and Livongo in the states have merged and WELL has been very actively engaged in making acquisitions. The problem with Telus, its healthcare segment gets buried and if it truly wants to unlock value, it may have to spinout its healthcare business (which it has alluded to). Given its size and access to capital however, Telus is best positioned to make the bigger M&A splash if it decides to go all-in on telehealth.
Mat