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VitalHub Corp. to Acquire MedCurrent Corporation

VitalHub Corp. to Acquire MedCurrent Corporation

VitalHub公司将收购MedCurrent公司
GlobeNewswire ·  07/30 19:30

TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- VitalHub Corp. (TSX: VHI) (OTCQX: VHIBF) (the "Company" or "VitalHub") is pleased to announce that it has signed a definitive agreement (the "Definitive Agreement") to acquire MedCurrent Corporation and its subsidiaries ("MedCurrent"), by way of a court-approved plan of arrangement under the provisions of the Business Corporations Act (Ontario) (the "Transaction").

多伦多,2024年7月30日(环球通讯社)——VitalHub Corp.(多伦多证券交易所股票代码:VHI)(OTCQX:VHIBF)(“公司” 或 “VitalHub”)欣然宣布,它已签署一项最终协议(“最终协议”),根据该条款通过法院批准的安排计划收购MedCurrent Corporation及其子公司(“MedCurrent”)《商业公司法》(安大略省)(“交易”)。

MedCurrent is a physician-founded Clinical Decision Support (CDS) company focused on improving the quality of care and managing health system costs through its innovative and scalable solution, OrderWise. OrderWise enhances the clinical decision-making process within real-time to determine the appropriateness of a test using evidence-based guidelines and artificial intelligence (AI) integrated at the point of care. To date, the development of OrderWise has been primarily focused on improving appropriateness of orders for medical imaging tests. MedCurrent provides its solutions in over 80 customer installations in Canada, the United Kingdom, the United States of America, and Australia.

MedCurrent是一家由医生创立的临床决策支持(CDS)公司,致力于通过其创新和可扩展的解决方案OrderWise来提高护理质量和管理医疗系统成本。OrderWise 使用基于证据的指南和集成在护理点的人工智能 (AI),实时增强临床决策流程,以确定测试的适当性。迄今为止,OrderWise的开发主要侧重于提高医学影像测试订单的适用性。MedCurrent 在加拿大、英国、美利坚合众国和澳大利亚的 80 多个客户设施中提供解决方案。

Hospital diagnostics, including medical imaging and laboratory testing, are critical components of healthcare delivery, accounting for a sizable portion of hospital expenditures1. In Canada alone, hospitals spend over $3 billion annually on medical imaging and $5.9 billion on laboratory testing2. Addressing inefficiencies and improving appropriateness in these areas is essential to reducing costs and enhancing patient outcomes. The Conference Board of Canada estimates that in 2022, average wait times were 67 days for a CT scan and 133 days for an MRI, significantly exceeding the acceptable 30-day standard3. These delays result in a net loss of $3.5 billion in GDP annually. Additionally, up to 30% of certain medical tests, procedures, and treatments are potentially unnecessary, according to the Canadian Institute for Health Information (CIHI)4. By integrating MedCurrent's CDS solutions, VitalHub aims to reduce these inefficiencies, with a view to lowering healthcare costs and improving patient care.

医院诊断,包括医学成像和实验室检测,是医疗服务的关键组成部分,占医院支出的很大一部分1。仅在加拿大,医院每年在医学成像方面的支出就超过30亿美元,在实验室测试上的支出为59亿加元2。解决这些领域的效率低下问题和提高适用性对于降低成本和改善患者预后至关重要。加拿大会议委员会估计,2022年,Ct扫描的平均等待时间为67天,核磁共振成像的平均等待时间为133天,大大超过了可接受的30天标准3。这些延误导致每年的GDP净损失35亿美元。此外,根据加拿大卫生信息研究所(CIHI)4的数据,多达30%的某些医学检查、程序和治疗可能是不必要的。通过整合MedCurrent的CDS解决方案,VitalHub旨在减少这些效率低下的情况,以降低医疗保健成本和改善患者护理。

VitalHub's acquisition of MedCurrent aligns with VitalHub's strategic vision to integrate cutting-edge technology solutions that streamline healthcare delivery. MedCurrent's OrderWise platform, focused on optimizing diagnostic orders, will complement VitalHub's existing Patient Flow software suite, providing a comprehensive solution to manage healthcare resources more effectively.

VitalHub对MedCurrent的收购符合VitalHub的战略愿景,即整合尖端技术解决方案,简化医疗保健交付。MedCurrent的OrderWise平台专注于优化诊断订单,将补充VitalHub现有的Patient Flow软件套件,为更有效地管理医疗资源提供全面的解决方案。

"This acquisition represents a significant step forward in our mission to enhance healthcare delivery through technology," said Dan Matlow, CEO of VitalHub. "MedCurrent's unique CDS software addresses a clear and critical need in the healthcare system. By integrating MedCurrent's solutions with our existing offerings, we believe that we can significantly reduce unnecessary tests and procedures, ultimately lowering costs and improving patient care. We are excited about the potential to expand MedCurrent's reach internationally and enhance our collective impact on global healthcare systems."

VitalHub首席执行官丹·马特洛表示:“此次收购代表着我们在通过技术加强医疗保健服务的使命方面向前迈出了重要一步。”“MedCurrent独特的CDS软件满足了医疗保健系统的明确而关键的需求。通过将MedCurrent的解决方案与我们的现有产品相结合,我们相信我们可以显著减少不必要的测试和程序,最终降低成本并改善患者护理。我们对扩大MedCurrent的国际影响力并增强我们对全球医疗系统的集体影响力的潜力感到兴奋。”

"We are thrilled to join forces with VitalHub, a company that shares our commitment to improving healthcare through innovation. This partnership will allow us to accelerate the development and deployment of our solutions, reaching more healthcare providers and patients worldwide," said Dr. Steve Herman, Founder and CEO of MedCurrent.

“我们很高兴与VitalHub合作,该公司与我们一样致力于通过创新改善医疗保健。这种伙伴关系将使我们能够加快解决方案的开发和部署,覆盖全球更多的医疗保健提供者和患者。” MedCurrent创始人兼首席执行官史蒂夫·赫尔曼博士说。

TRANSACTION CONDITIONS AND TIMING

交易条件和时间

VitalHub has agreed to acquire MedCurrent for total consideration of up to approximately C$34 million (assuming all earn-outs are achieved), including a cash payment of approximately C$12 million on closing (which amount is subject to customary working capital adjustments and other similar closing adjustments), and additional earn-out consideration up to a maximum of approximately C$21.875 million) based on annual performance over 36 months.

VitalHub已同意收购MedCurrent,总对价高达约3,400万加元(假设所有收益均已实现),其中包括在收盘时支付的约1200万加元的现金(该金额受常规营运资本调整和其他类似的收盘调整影响),以及根据36个月的年度业绩计算的额外收益对价,最高约为2187.5万加元)。

The Transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) and will require the approval of at least 662⁄3% of votes cast by MedCurrent shareholders at a special meeting of MedCurrent shareholders, the timing of which will be approved by the court. Upon completion of the Transaction, MedCurrent will become a wholly owned subsidiary of VitalHub.

该交易将通过法院批准的《商业公司法》(安大略省)下的安排计划生效,并且需要批准MedCurrent股东在MedCurrent股东特别会议上所投的至少662⁄3%的选票,具体时间将由法院批准。交易完成后,MedCurrent将成为VitalHub的全资子公司。

Directors, officers, and certain other shareholders of MedCurrent, holding approximately 79.81% of the issued and outstanding common shares of MedCurrent, calculated on an as-converted to common share basis, have entered into voting support agreements pursuant to which they have agreed to vote their MedCurrent common shares in favour of the Transaction. In addition to the shareholder and court approval, the Transaction is subject to applicable regulatory approvals and third party consents and the satisfaction of certain other closing conditions customary in transactions of this nature. The Transaction is expected to close at the beginning of September, 2024.

MedCurrent的董事、高级管理人员和某些其他股东持有MedCurrent已发行和流通普通股的约79.81%(按转换为普通股计算),他们已经签订了投票支持协议,根据该协议,他们同意将其MedCurrent普通股投票支持该交易。除了股东和法院的批准外,该交易还需要获得适用的监管部门批准和第三方的同意,并满足此类性质交易中常见的某些其他成交条件。该交易预计将于2024年9月初完成。

VitalHub's legal advisors for the Transaction are Torkin Manes LLP. Toronto-based Morrison Park Advisors and Rotterdam-based IMAP Netherlands served as MedCurrent's exclusive financial advisors, while Norton Rose Fulbright Canada LLP acted as legal advisor.

VitalHub为该交易提供的法律顾问是托尔金·马内斯律师事务所。总部位于多伦多的莫里森公园顾问公司和总部位于鹿特丹的IMAP Netherlands担任MedCurrent的独家财务顾问,而加拿大诺顿罗斯富布赖特律师事务所则担任法律顾问。

Further details of the Transaction are set out in the Definitive Agreement that is available under Vitalhub's corporate profile on SEDAR+ at .

该交易的更多细节载于最终协议,该协议可在SEDAR+的Vitalhub公司简介中查阅,网址为。

ABOUT MEDCURRENT

关于 MEDCURRE

Headquartered in Toronto, Canada, MedCurrent Corporation is focused on improving the quality of care and managing health system costs through its innovative Clinical Decision Support (CDS) platform, enabling real-time, evidence-based guidelines integrated at the point of care to improve health and healthcare delivery. MedCurrent serves 80+ organizations throughout Canada, the United Kingdom, the United States of America, and Australia with its 15 team members based in Canada and the United Kingdom.

总部位于加拿大多伦多的MedCurrent Corporation专注于通过其创新的临床决策支持(CDS)平台提高护理质量和管理卫生系统成本,在医疗点整合实时、循证的指南,以改善健康和医疗保健的提供。MedCurrent为加拿大、英国、美利坚合众国和澳大利亚的80多个组织提供服务,其15名团队成员分布在加拿大和英国。

ABOUT VITALHUB

关于 VITALHUB

Software for Health and Human Services providers designed to simplify the user experience and optimize outcomes.

专为健康与公共服务提供商设计的软件,旨在简化用户体验并优化结果。

VitalHub is a leading software company dedicated to empowering Health and Human Services providers. Our 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.

VitalHub是一家领先的软件公司,致力于为健康与公共服务提供商提供支持。我们的客户包括医院、地区卫生当局、儿童和成人的心理健康和成瘾服务提供商、长期护理机构、家庭健康机构、惩教服务机构以及社区和社会服务提供商。

VitalHub's comprehensive suite of SaaS solutions include:

VitalHub 的全面 SaaS 解决方案套件包括:

  • Electronic Health Record (EHR), Case Management, Care Coordination, and Optimization
  • Patient Flow, Operational Visibility, and Patient Journey Optimization
  • Workforce Automation
  • 电子医疗记录 (EHR)、病例管理、护理协调和优化
  • 患者流量、运营可见性和患者旅程优化
  • 劳动力自动化

The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently VitalHub serves more than 1,000 clients across Canada, USA, UK, Australia, the Middle East, and Europe.

该公司制定了强有力的双管齐下的增长战略,瞄准其产品套件中的有机增长机会,并推行积极的并购计划。目前,VitalHub为加拿大、美国、英国、澳大利亚、中东和欧洲的1,000多名客户提供服务。

VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The VitalHub team comprises more than 400 team members globally. The Company is publicly traded on the Toronto Stock Exchange (TSX) under the symbol "VHI" and on the OTC Markets OTCQX Exchange under the symbol "VHIBF".

VitalHub总部位于加拿大多伦多,在斯里兰卡设有离岸开发中心。VitalHub团队由全球400多名团队成员组成。该公司在多伦多证券交易所(TSX)上市,股票代码为 “VHI”,在场外市场OTCQX交易所上市,股票代码为 “VHIBF”。

CONTACT INFORMATION

联系信息

VitalHub Corp.
Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
dan.matlow@vitalhub.com

VitalHub 公司
丹·马特洛
首席执行官、董事
(416) 727-9061
dan.matlow@vitalhub.com

CAUTIONARY STATEMENT

警示声明

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. The forward-looking information in this news release includes reference to disclosure about the terms of the Transaction, about MedCurrent, including its historical revenue and future recurring revenue, and about potential synergies among existing offerings in the issuer's patient flow products as well as the potential for the international application of MedCurrent's product offerings. VitalHub made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of VitalHub and MedCurrent to execute and achieve its business objectives, to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the inability of VitalHub and MedCurrent to successfully integrate operations; reliance on key and qualified personnel; and regulatory and other risks associated with the medical and technology industries in general. The foregoing list of material risk factors and assumptions is not exhaustive. VitalHub assumes no obligation to update or revise the forward-looking information in this news release unless it is required to do so under Canadian securities legislation.

本新闻稿包含加拿大证券立法所指的 “前瞻性信息”。前瞻性信息通常是指有关发行人业务、资本或运营的具有前瞻性的信息,包括有关发行人预期财务业绩或财务状况的面向未来的财务信息。本新闻稿中的前瞻性信息包括有关交易条款、MedCurrent(包括其历史收入和未来经常性收入)的披露、发行人患者流产品现有产品之间的潜在协同效应以及MedCurrent产品在国际上的应用潜力的披露。VitalHub做出了某些重大假设,包括但不限于:当前的市场状况;一般业务、经济、竞争、政治和社会的不确定性;延迟或未能获得董事会、股东或监管机构的批准;以及VitalHub和MedCurrent执行和实现其业务目标的能力,在本新闻稿中提供前瞻性信息。无法保证此类陈述会被证明是准确的,因为实际结果和未来事件可能与此类陈述中的预期存在重大差异。因此,读者不应过分依赖前瞻性陈述。由于某些重大风险因素,实际结果可能与本新闻稿中的前瞻性信息有所不同。这些风险因素包括但不限于:不利的市场状况;VitalHub和MedCurrent无法成功整合业务;对关键和合格人员的依赖;以及与整个医疗和技术行业相关的监管和其他风险。上述重大风险因素和假设清单并不详尽。除非加拿大证券立法要求更新或修改本新闻稿中的前瞻性信息,否则VitalHub没有义务更新或修改本新闻稿中的前瞻性信息。

  1. CD Howe Institute, Commentary No. 533, "What the Doctor Ordered: Improving the Use and Value of Laboratory Testing".
  2. Canadian Institute for Health Information, "Hospital Spending", September 21, 2023.
  3. Canadian Association of Radiologists, "Addressing the Medical Imaging Dilemma in Canada: Restoring Timely Access for Patients Post-Pandemic."
  4. Canadian Institute for Health Information, "Unnecessary Care in Canada", April 2017.
  1. CD Howe研究所,第533号评论,“权宜之计:改善实验室测试的使用和价值”。
  2. 加拿大卫生信息研究所,“医院支出”,2023年9月21日。
  3. 加拿大放射科医师协会,“解决加拿大的医学影像困境:恢复疫情后患者的及时就诊。”
  4. 加拿大卫生信息研究所,“加拿大不必要的护理”,2017年4月。

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