MedCurrent Corp.

  • Healthcare
Exclusive Financial Advisor to MedCurrent on its sale to Vitalhub

Overview

  • Target: MedCurrent Corporation, a leading provider of hospital automation software designed to streamline clinical operations, reduce administrative burden, and improve care coordination across acute care facilities.

  • Buyer: VitalHub Corporation (TSX: VHI), one of Canada’s largest healthcare technology consolidators, actively expanding its digital-health ecosystem across telehealth, EHR, pharmacy, and workflow solutions.

  • Sector: Healthcare IT / MedTech / Hospital Automation

  • Transaction type: Full sale to strategic acquirer

  • MPA’s Role: We acted as the exclusive financial advisor to MedCurrent, leading the process from strategic positioning and buyer identification to valuation, negotiation, and providing a fairness opinion to their board of directors and shareholders.

    • 12× EBITDA multiple
    (vs. industry average 8–10×)
    C$34 million transaction value
    (cash + earn-out)
    Closed within 6 months
    (vs. typical 9–12 months for Canadian healthcare IT M&A)
    100 % shareholder approval

Healthcare

Exclusive Financial Advisor to MedCurrent on its sale to Vitalhub

Our Role

Morrison Park Advisors was retained to guide MedCurrent’s shareholders through a competitive sale process designed to surface strategic buyers offering both optimal valuation and long-term growth fit.

1. Strategic Positioning & Buyer Identification

MPA leveraged its experience in Canadian healthcare IT M&A and its IMAP global partner network to identify high-fit strategic acquirers across Canada, the U.S., and Europe. The outreach focused on buyers with existing SaaS healthcare platforms seeking to integrate clinical decision-support (CDS) and hospital workflow tools.

2. Valuation & Process Management

The MPA team conducted a comprehensive hospital software valuation analysis, benchmarking MedCurrent’s SaaS metrics (recurring revenue mix, gross margins, client retention, regulatory compliance) against peers in North America and the U.K. MPA managed due diligence, coordinated negotiations, and provided an independent fairness opinion to MedCurrent’s Board and shareholders.

3. Execution & Closing

Within six months, MPA secured a premium exit to VitalHub, a strategic buyer uniquely positioned to scale MedCurrent’s technology and accelerate market adoption.

Outcome

Through its acquisition by VitalHub, MedCurrent’s OrderWise platform has been integrated into one of the largest healthcare IT ecosystems in Canada, complementing VitalHub’s EHR, telehealth, and workflow automation solutions.

Key Takeaways for Healthcare Founders & Investors

The MedCurrent transaction provides valuable lessons for healthcare technology companies, founders, and investors considering strategic alternatives or preparing for eventual exit.

  • Define strategic buyer criteria early. Understanding the target’s value drivers (e.g., clinical decision software, global repeatable SaaS revenue) enables the identification of the right strategic and financial acquirers.

  • Use a broad outreach with focus. A large pool of potential buyers (150+ in this case) increases competition, while filtering to those with strategic fit improves outcome quality.

  • Run a competitive process. Structured competition among bidders drives improved terms, ensures contingency planning, and safeguards value for shareholders.

  • Prioritize continuity and integration. Ensuring the management team stays engaged post-acquisition and that the acquirer has a clear integration plan enhances the business’s future trajectory and risk profile.

  • Focus on deal-structuring dynamics. Elements such as earn-outs, geographical revenue mix, SaaS model scaling, and compliance/regulatory risk were important considerations in this transaction—reflecting characteristics typical of healthcare-tech M&A.

About MedCurrent Corporation

MedCurrent develops advanced clinical-decision support (CDS) software, originally targeting radiology appropriateness as well as pathology requesting, specialist referrals, and clinical pathways. With installations in hospitals and health systems across Canada, the U.K., the U.S,. and Australia, MedCurrent’s OrderWise platform uses evidence-based guidelines and workflow integration to streamline diagnostic ordering and optimize clinical resource usage.

Considering a Healthcare Transaction?

Whether you’re exploring strategic alternatives, preparing for succession, or need independent fairness analysis, our experienced healthcare M&A team is ready to help you achieve outcomes that exceed expectations.
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