The healthcare software company, VitalHub has announced its acquisition of the Canadian-based provider of patient flow solutions, Novari Health Inc, with the aim to “enhance value for customers and establish VitalHub as a leader in the referral management market”.
The acquisition of Novari plans to “strengthen VitalHub’s leading position in the Canadian market” and improve patient access to care through referral management, which the company said is a “key area of investment” when tackling long wait times and administrative burdens.
Up-front costs for the deal reportedly came to $43.6 million, with a final purchase price of $35.8 million and 733,726 allocated to VitalHub’s common shares. There’s also the potential for performance-based consideration, with the maximum amount payable totalling $5 million over the two-year period after closing.
“We have watched the success of Novari in the Canadian landscape for over a decade, and are honoured to welcome the team to the VitalHub platform. We have solidified our leading position in the Canadian patient flow market, which we believe will be a long-term area of growth in the country’s digitalisation journey,” Dan Matlow, CEO of VitalHub said.
This follows VitalHub’s recent acquisition of Induction Healthcare, which aims to “enhance the patient journey from hospital to home, across the UK and beyond”.
Latest acquisitions in healthcare
Healthcare technology company, HEALWELL recently acquired Orion Health, in hopes of providing “new opportunities for global health systems” when it comes to accessing AI technology. The deal cost the company NZD$175 million, which was made up of a combination of cash and shares, with an additional “performance based earn-out” of up to NZD$25 million.
Earlier this year, UK-based medical devices company RDi announced the acquisition of health tech innovator Inicio Health, to “accelerate the development of advanced digital solutions which empower individuals to take control of their health”.
Blüm Technologies Group acquired Nexus Digital Technologies in a “strategic expansion in the primary engagement and community care space” which aims to deliver a more end-to-end digital health service for organisations requiring support with digital transformation.
