VitalHub Completes Acquisition of Induction

Acquisition Overview - VitalHub Corp. has completed the cash acquisition of Induction Healthcare Group PLC through a court-sanctioned scheme of arrangement, valuing Induction at approximately £9.7 million [1][4] - The acquisition price was £0.10 in cash for each Induction share [4] Induction's Business and Financials - Induction provides software solutions that enhance care delivery and patient journeys in hospitals, with key products including Zesty and Attend Anywhere [3][6] - For the six-month period ending September 30, 2024, Induction reported revenues of £5.4 million, a gross margin of 78.2%, and an adjusted EBITDA loss of £0.9 million [4] - Zesty generated revenues of £2.0 million, while Attend Anywhere generated revenues of £3.2 million, with £0.2 million from discontinued operations [4] - As of the acquisition closing date, Zesty had an Annual Recurring Revenue (ARR) of £2.2 million, and Attend Anywhere had virtual care recurring revenue of £4.6 million [4][14] Strategic Rationale - The CEO of VitalHub stated that the Induction product set, particularly the Zesty platform, is highly complementary to VitalHub's existing solutions, aiming to enhance value for healthcare partners and improve patient outcomes [5] - VitalHub's growth strategy includes targeting organic opportunities and pursuing an aggressive M&A plan [5]