VitalHub Announces Recommended Cash Acquisition of Induction Healthcare Group PLC

Core Viewpoint - VitalHub Corp. has announced a cash acquisition of Induction Healthcare Group PLC, valuing Induction at approximately £9.7 million, with each shareholder entitled to receive £0.10 in cash for each share held [1] Company Overview - Induction provides software solutions that enhance care delivery and patient journeys in hospitals, allowing healthcare providers to deliver care both remotely and face-to-face [3][16] - Key products include Zesty, a patient engagement platform, and Attend Anywhere, a video consultation platform [4][5] Financial Performance - For FY24, Induction reported revenues of £14.4 million, a gross margin of 78.4%, and an adjusted EBITDA loss of £0.3 million [6] - For H1 FY25, revenues were £5.4 million, with a gross margin of 78.2% and an adjusted EBITDA loss of £0.9 million [7] Strategic Rationale - VitalHub views Induction's Zesty platform as complementary to its existing offerings, aiming to enhance product diversity and improve patient outcomes [8] - The acquisition is expected to expand VitalHub's market reach in the UK, Europe, Canada, the Middle East, and Australia [9] - Induction is anticipated to benefit from being part of a larger, well-capitalized enterprise, enabling effective implementation of strategic initiatives [10] Acquisition Details - The acquisition will be executed through a court-approved scheme of arrangement, requiring approval from Induction shareholders and the Court [11][12] - Induction's directors recommend shareholders vote in favor of the scheme, with irrevocable commitments received for approximately 44.3% of Induction's shares [13] - The transaction is expected to close by July 31, 2025, with a long stop date of September 30, 2025 [13]