Dan Matlow reports
VITALHUB EXPANDS DEBT FACILITY WITH THE BANK OF NOVA SCOTIA
Vitalhub Corp. has amended its existing debt facilities with Bank of Nova Scotia's technology and innovation division.
Under the terms of the amendment, the company's acquisition line has been expanded to $27-million up from $10-million. Additionally, the company's operating line has been expanded to $6-million up from $1-million. Currently, the company has drawn $9-million from the acquisition line.
"The expansion of our debt facility positions Vitalhub for further accretive acquisitions without reliance upon equity markets," said Dan Matlow, chief executive officer of Vitalhub. "We currently have over $50-million of available capital to deploy toward acquisitions in addition to the cash that is currently being generated from operations. We have a robust pipeline of M&A [merger and acquisition] opportunities in front of us as we move into 2023."
About Vitalhub Inc.
Vitalhub develops mission-critical technology solutions for health and human services providers in the mental health (child, youth and adult), long-term care, home health, community and social services, and acute care sectors.
Vitalhub develops technologies in two primary categories: patient flow, operational visibility and patient journey optimization solutions; and electronic health record, case management, care co-ordination and optimization solutions. The company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite and pursuing a strategic M&A (merger and acquisition) plan. Currently, Vitalhub serves more than 600 clients across Canada, the United States, the United Kingdom, Australia, New Zealand, the Middle East and Europe.
Vitalhub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Vitalhub team comprises more than 200 team members globally. The company is publicly traded on the Toronto Stock Exchange under the symbol VHI and on the OTC Markets' OTCQX exchange under the symbol VHIBF.
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