Vaso Corporation Announces Divestiture of Subsidiary

Core Viewpoint - Vaso Corporation has reached an agreement to sell its subsidiary VasoHealthcare IT Corp. to Nano-X Imaging Ltd. as part of a strategic review to focus on core operations and competencies [1][2]. Group 1: Transaction Details - The sale of VasoHealthcare IT, which provides imaging information technology to healthcare providers, represents less than 5% of Vaso's total revenue [2]. - The transaction consideration is up to $800,000, with $200,000 payable at closing and up to $600,000 as an earnout based on post-closing performance [2]. - The completion of the sale is expected within a couple of weeks [1]. Group 2: Strategic Implications - The divestiture is viewed as a positive development for shareholders and is expected to provide a strong future for the VasoHealthcare IT team as part of Nanox [2]. - Proceeds from the sale will be used to invest in other business lines and strategic initiatives [2]. Group 3: Company Overview - Vaso Corporation operates three core businesses: VasoHealthcare, VasoTechnology, and VasoMedical, focusing on healthcare IT, professional sales services, and proprietary medical devices [4].