We are pleased to announce that MPA Morrison Park Advisors and IMAP Netherlands acted as exclusive financial advisors to MedCurrent Corp. (“MedCurrent”), which has signed a definitive agreement to be acquired by VitalHub Corporation (TSX: VHI) (“VitalHub”) through a court-approved plan of arrangement under the provisions of the Business Corporations Act (Ontario).
VitalHub has agreed to acquire MedCurrent for total consideration of up to approximately C$34 million. This includes a cash payment of approximately C$12 million at closing and an earn-out consideration of up to a maximum of approximately C$21.875 million based on annual performance over the next 36 months. The transaction is expected to close at the beginning of September 2024.
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. This platform enables real-time, evidence-based guidelines to be integrated at the point of care, enhancing health and healthcare delivery. MedCurrent serves over 80 organizations throughout Canada, the United Kingdom, the United States, and Australia, supported by a team of 15 members based in Canada and the United Kingdom.
VitalHub is a publicly traded leading Canadian software company dedicated to empowering Health and Human Services providers. VitalHub’s comprehensive suite of SaaS solutions includes electronic health records, patient journey optimization, and workforce automation. Currently, VitalHub serves more than 1,000 clients across Canada, the USA, the UK, Australia, the Middle East, and Europe.
“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.” said Dan Matlow, CEO of VitalHub.
“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.
The MPA team, comprised of Brent Walker, Emile Kandela, Carolina Da Silva, and Dalton Austin, along with Ian Bussey and Indrajeet Mohite from IMAP Netherlands, acted as exclusive financial advisors to MedCurrent throughout all transaction phases. This transaction is complementary for both MedCurrent and VitalHub and represents MPA’s strong capability to identify and assess these types of opportunities for its clients.