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VitalHub Acquires Buddy Healthcare

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VitalHub (VHI.TO) acquired Buddy Healthcare Ltd Oy for total up-front consideration of 8.6 million euros, plus potential performance-based consideration, VitalHub said Monday.

The company paid a cash payment of 8.3 million euros, subject to working capital adjustments, and issued 75,000 VitalHub shares as part of the purchase price, it said.

All-cash earnouts of up to 4.5 million euros may be payable based on the achievement of performance-based targets at the end of the first two calendar years post-acquisition, said the company.

Buddy Healthcare is a care coordination platform based in Finland, added VitalHub.

"The acquisition establishes a strong foundation for VitalHub in the Nordic region and strengthens our patient flow and patient engagement capabilities internationally," said VitalHub CEO Dan Matlow. "We believe there is a significant opportunity to accelerate Buddy Healthcare's growth through our broader customer relationships in the UK and across our global markets as it fits in perfectly."

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