Mr. Dan Matlow reports

VITALHUB COMPLETES ACQUISITION OF INDUCTION

Vitalhub Corp. has completed the cash acquisition of Induction Healthcare Group PLC by way of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.

For full details related to the acquisition, please see the circular related to the scheme of arrangement published by Induction on April 17, 2025, and the press release published by Vitalhub on April 10, 2025.

Induction delivers a suite of software solutions that transform care delivery and the patient journey through hospitals. Induction's primary products are Zesty and Attend Anywhere. Zesty is a patient engagement platform that transforms interactions between patients and care teams. Attend Anywhere is a platform that makes it simple, safe and secure for health care organizations to offer video consultations as a normal part of day-to-day operations.

Vitalhub acquired Induction for 0.10 pound sterling in cash for each Induction share, valuing Induction at approximately 9.7 million pounds sterling. For the most recently reported six-month period ended Sept. 30, 2024, Induction generated revenues of 5.4 million pounds sterling, gross margin of 78.2 per cent and an adjusted earnings before interest, taxes, depreciation and amortization loss of 900,000 pounds sterling. Zesty generated revenues of 2.0 million pounds sterling, and Attend Anywhere generated revenues of 3.2 million pounds sterling (200,000 pounds sterling of revenues from discontinued operations). As at the acquisition closing date, Induction's subscription-based Zesty solution had annual recurring revenue of 2.2 million pounds sterling, and Attend Anywhere had virtual care recurring revenue of 4.6 million pounds sterling.

"We see the Induction product set, in particular the Zesty platform, as highly complementary to our current suite of solutions," said Dan Matlow, chief executive officer of Vitalhub. "We believe our expanded end-to-end offering will enhance the value to our health care partners, improving the end-user experience and patient outcomes."

About Vitalhub Corp.

Vitalhub is a leading software company dedicated to empowering health and human service providers globally. Vitalhub's comprehensive product suite includes electronic health records, operational intelligence and work force automation solutions that serve over 1,000 clients across the United Kingdom, Canada and other geographies. The company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive merger-and-acquisition plan. Vitalhub is headquartered in Toronto with over 500 employees globally across key regions and the Vitalhub Innovations Lab in Sri Lanka.

About Induction Healthcare Group PLC

Induction delivers a suite of software solutions that transform care delivery and the patient journey through hospital. Induction's system-wide applications help health care providers and administrators to deliver care at any stage remotely, as well as face-to-face -- giving the communities they serve greater flexibility, control and ease of access. Purpose-built for integration with leading electronic medical record platforms, its products offer immediate stand-alone value that becomes even greater when integrated with pre-existing systems.

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