News Summary

Toronto-based healthcare software company VitalHub has acquired Kingston, Ontario-based Novari Health in a deal worth up to $48.6 million CAD. This acquisition, consisting of cash payments, issuance of shares, and performance bonuses, aims to bolster VitalHub’s leading position in the Canadian referral management market. Novari Health is known for its referral management, central intake, and waitlist management software, which helps healthcare organizations manage administrative burdens and reduce wait times. The acquisition is also part of VitalHub’s strategy to expand its global reach, particularly in the United Kingdom. Novari Health had an annual recurring revenue of approximately $12 million before the acquisition. VitalHub’s stock price increased significantly following the announcement, reflecting positive market sentiment.