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Vitalhub Corp (2)
Symbol VHI
Shares Issued 36,939,572
Close 2022-01-26 C$ 2.95
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Vitalhub acquires Beautiful Information

2022-01-27 16:09 ET - News Release

Mr. Dan Matlow reports

VITALHUB CORP. ANNOUNCES ACQUISITION OF BEAUTIFUL INFORMATION

Vitalhub Corp. has acquired Beautiful Information Ltd. (BI), a company incorporated and registered in England and Wales.

Vitalhub has acquired Beautiful Informatio, via a share acquisition by its wholly owned subsidiary, The Oakgroup (U.K.) Ltd., for a total purchase price of 1.55 million pounds sterling, subject to any postclosing working capital adjustments. The purchase price was satisfied by payment of 1,386,059 pounds sterling in cash and the issuance of 90,266 shares of Vitalhub to the shareholders of Beautiful Information. The share consideration was calculated at a price of $3.026 per Vitalhub share and represents total value to the vendors of 163,941 pounds sterling.

For the 12-month period ending Dec. 31, 2021, Beautiful Information has estimated revenue of approximately one million pounds sterling, of which the company anticipates 600,000 pounds sterling to be recurring in nature.

Beautiful Information was founded as the first national health service/private partnership of its kind, supported in its development by Kent Surrey Sussex Academic Health Science Network, East Kent Hospitals University NHS Foundation Trust and Ashford St Peters NHS Foundation Trust.

BI offers unique real-time information to NHS trusts to help them plan and resource clinical services to meet hourly fluctuations in patient flow, and provides their solutions across a range of U.K. NHS organizations. BI solutions will be added to an existing portfolio of Vitalhub patient flow product offerings, creating a more robust suite of operational visibility and efficiency products.

Dan Matlow, Vitalhub chief executive officer, commented on the acquisition stating: "Adding Beautiful Information's solutions to our existing suite of patient flow and operational visibility products will serve to increase our customer base, while expanding our technology and advisory capabilities. The BI team brings extensive health care data expertise across the NHS and, when combined with our existing Alamac and Transforming Systems products, creates strong synergies that position Vitalhub as the leader in the U.K. for these types of solutions. We look forward to continuing to sell this integrated product suite across this NHS, while simultaneously leveraging these tools across our commercial footprint."

Dr. Marc Farr, founder of Beautiful Information, adds: "Combining Beautiful Information, Transforming Systems and Alamac creates, for the first time, an organization that can track in real time the clinical journey of the patient at the individual level and aggregate it to provide a regional and national view of flow and system pressure. We believe that putting this information in the hands of operational managers will create a new opportunity to alert more quickly on how resources can be flexed at any time to reduce system inefficiencies before they occur."

About Vitalhub Corp.

Software for health and human services providers designed to simplify the user experience and optimize outcomes.

Vitalhub provides technology to health and human services providers, including hospitals, regional health authorities, mental health, long-term care, home health, community and social services. Vitalhub solutions span the categories of electronic health record (EHR), case management, care co-ordination, patient flow and operational visibility, and DOCit mobile apps.

The company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive merger and acquisition plan. Currently, Vitalhub serves 275-plus clients across Canada, the United States, the United Kingdom, Australia, Qatar and Latvia. Vitalhub is based in Toronto, Canada, with an offshore development hub in Sri Lanka.

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