Edwin Coe is pleased to announce that it advised Canadian health tech corporation VitalHub Corp. (“VitalHub”) on its acquisition, via VitalHub’s UK subsidiary, of Intouch With Health Limited (“ITWH”) and Transforming Systems Limited (“TSL”).
VitalHub paid approximately £3,850,000 for the entire issued share capital of ITWH, to be adjusted in accordance with a closing net equity adjustment. This was paid in cash to the ITWH shareholders at completion, which took place on 19 August 2020.
Three weeks later, VitalHub completed its acquisition of the entire issued share capital of TSL on 9 September 2020. The total consideration paid for the TSL shares was £5,951,820, which is composed of a £1,900,000 issuance of common shares of VitalHub and a cash payment of £4,051,820. The common shares of VitalHub issued pursuant to the share component were issued at CAD $2.11 per common share, resulting in a total of 1,566,827 common shares being issued.
Transforming Systems Limited helps the NHS solve a fundamental challenge surrounding lack of access to real-time information across its multitude of services. This empowers NHS teams to determine actionable insights from a wide range of healthcare data, leading to improved organizational efficiencies and resource utilization, ultimately aiming to improve the delivery of patient care.
Intouch with Health Limited is a UK leader for patient flow management solutions that allow patients to more effectively move throughout a hospital. Their products are used by over 53 National Health Services Trusts in the UK representing 130 hospitals. Its solutions are also deployed internationally.
VitalHub Corp., which is publicly traded on the TSX Venture Exchange, develops and supports mission-critical information systems in the social service, mental health, long term care, community health service, home health and hospital sectors. It has a two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. VitalHub is based in Toronto, Canada, with an offshore innovation hub in Sri Lanka.
Our client’s full announcements are here: Vitalhub Corp. Announces Acquisition of Intouch With Health Inc. and VitalHub Corp. Completes Acquisition of Transforming Systems Ltd.
About Edwin Coe
Edwin Coe LLP is a full service law firm based in the heart of London’s historic legal district in Lincoln’s Inn. Founded in 1913, we have grown from our litigation origins to become a thriving and dynamic practice, providing a comprehensive range of legal services to meet the needs of a wide variety of businesses, individuals and organisations based throughout the UK and internationally.
With 44 Partners, we are ranked 115 in the 2021 edition of The Lawyer ‘UK 200’ law firms and are recommended in all the major legal directories. We provide clients with innovative, tailored and integrated legal services and combine a highly personal and responsive service with industry leading expertise.