VitalHub Corp. (TSXV:VHI) signed a letter of intent to acquire HInext Inc. from Peter Catford and Ellen Catford for CAD 5.2 million on February 23, 2017. VitalHub Corp. entered into a definitive agreement to acquire HInext Inc. from Peter Catford and Ellen Catford for CAD 6.6 million on December 21, 2017. Under the terms of agreement, VitalHub will make cash payment of CAD 0.55 million and issue 19.5 million shares as consideration. A portion of cash consideration being CAD 0.15 million and stock consideration being 17.8 million shares will be kept in escrow for a period of 9 months from the date of closing of the transaction. VitalHub assumed two loans from the acquisition in the amount of CAD 0.58 million. Peter Catford and Ellen Catford shall receive 9.08 million which is 7.42% and 8.72 million shares which is 7.13% of VitalHub.
In a related transaction, VitalHub signed a letter of intent to acquire B Sharp Technologies Inc. for CAD 3.9 million on February 17, 2017. Further, VitalHub also announced a brokered private placement of up to CAD 10 million on March 24, 2017. The private placement completed on September 20, 2017. For the year ended September 30, 2016, Hinext had total revenues of CAD 3.3 million. VitalHub intends to fund the acquisition from the proceeds of the brokered private placement of CAD 10 million, that it announced on March 24, 2017. Peter Catford will join Vitalhub's management as Chief Strategist. The deal is subject to completion of closing conditions including approval by the TSX Venture Exchange, mutually satisfactory due diligence and the execution of definitive legal documentation. The transaction will close in sometime after completion of acquisition of B Sharp Technologies.
VitalHub Corp. (TSXV:VHI) signed a letter of intent to acquire HInext Inc. from Peter Catford and Ellen Catford on January 10, 2018.
VitalHub Corp. is a Canada-based software company. The Company offers software for health and human service providers designed to simplify the user experience and optimize outcomes. It offers a comprehensive suite of software-as-a-service (SaaS) solutions, which include electronic health record (EHR), case management, care coordination, and optimization; patient flow, operational visibility, and patient journey optimization, and workforce automation. Its solutions include Alamac, Beautiful Information, Hicom, Intouch with Health, MCAP, Oculys, SHREWD, Synopsis, B Care, CaseWORKS, Pirouette, S12 Solutions and TREAT. Its clients include hospitals, regional health authorities, mental health and addictions services providers for children and adults, long-term care facilities, home health agencies, correctional services, and community and social services providers. It serves clients across Canada, the United States, the United Kingdom, Australia, the Middle East, and Europe.