Core Viewpoint - VitalHub Corp. has acquired Novari Health Inc., a Canadian healthcare software provider, for a total consideration of $43.6 million, enhancing its position in the patient flow solutions market [1][2]. Transaction Details - The acquisition cost includes an upfront payment of $35.8 million in cash and 733,726 common shares of VitalHub, with a potential performance-based earnout of up to $5.0 million over two years [2]. Overview of Novari - Novari, based in Kingston, Ontario, has over 20 years of experience in healthcare software, focusing on patient access through integrated solutions for referral management, surgical wait list management, and care coordination [3][9]. - As of June 30, 2025, Novari reported an Annual Recurring Revenue of approximately $12.0 million and was nearing Adjusted EBITDA breakeven prior to the acquisition [4]. Strategic Opportunity - The referral management market is a significant investment area for governments due to rising wait times and administrative challenges, positioning the acquisition as a strategic move for VitalHub [5]. - The combination of Novari's solutions with VitalHub's existing platforms is expected to strengthen its market position in Canada and facilitate global expansion, particularly in the UK [6]. Company Background - VitalHub is a leading software company focused on empowering health and human services providers, with a product suite that includes electronic health records and operational intelligence, serving over 1,000 clients globally [10][11].