Toronto, Ontario--(Newsfile Corp. - February 5, 2024) - VITALHUB CORP. (TSX: VHI) (OTCQX: VHIBF) (the "Company" or "VitalHub") is pleased to announce that it has acquired (the "Acquisition") BookWise Solutions Limited ("BookWise"), a company incorporated and existing under the laws of England and Wales.
BookWise offers specialist scheduling software for healthcare and corporate organisations ranging from general room booking software to more specialist scheduling systems. The BookWise suite of products have been developed to allow users to easily manage their resources including, but not limited to, Specialist Oncology Scheduling, Special Day Unit Scheduling, Outpatient Scheduling, Renal Scheduling, Doctor Study Leave Management, and real-time room and facilities booking. BookWise proudly provides these services to over 150 customers empowering thousands of daily users in the United Kingdom and Australia.
VitalHub acquired BookWise from its shareholders for a purchase price of £3,115,094.35 which includes the acquisition of approximately £1,640,000 in cash on BookWise's books. The purchase price was satisfied by a cash payment of £3,115,094.35, a portion of which will be held in escrow for a six (6) month period following closing of the Acquisition.
For the 12-month period ending December 31, 2023, BookWise had estimated revenues of £1,250,000 of which more than £625,000 was identified to be recurring in nature from its current 150+ customer base (these amounts are unaudited).
"With this Acquisition, we are excited to expand upon our robust suite of patient flow products while adding 150 customers in both Australia and the United Kingdom. In particular, there are strong synergies with our Intouch with Health platform. BookWise has developed an excellent solution that encompasses the healthcare domain in a unique fashion that we believe can be sold in all of our geographies. We welcome the BookWise team to team VitalHub!" said Dan Matlow, CEO of VitalHub.
"This is an exciting new phase for the Company. It has been important to find a partner that is as committed as us to improving healthcare with innovative software, who will provide additional resources to advance our products and scale the business," said Denise Williamson, Managing Director of BookWise.
Formed in 2010 and based in Burton-on-Trent, England, BookWise Solutions Limited specializes in scheduling software for healthcare and corporate organisations ranging from general room booking software to more specialist scheduling systems. BookWise serves 150+ healthcare organizations throughout the United Kingdom and Australia with its 16 team members based in England.
Software for Health and Human Services providers designed to simplify the user experience and optimize outcomes.
VitalHub Corp. provides technology to Health and Human Services providers including Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination & Optimization, and Patient Flow & Operational Visibility solutions.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive merger and acquisition plan. Currently VitalHub serves more than 1,000 clients across Canada, USA, UK, Australia, the Middle East, and Europe.
VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The VitalHub team comprises more than 350 team members globally. The Company is publicly traded on the Toronto Stock Exchange (TSX) under the symbol "VHI" and on the OTC Markets OTCQX Exchange under the symbol "VHIBF".