VitalHub Completes Acquisition of Induction Healthcare
Deal News | Jun 19, 2025 | Globenewswire
VitalHub Corp., a Toronto-based software company, has successfully completed the acquisition of Induction Healthcare Group PLC via a cash transaction. This acquisition was executed through a court-sanctioned scheme of arrangement as per the UK Companies Act 2006. Induction Healthcare specializes in software solutions aimed at enhancing care delivery and improving patient journeys in hospitals. Their flagship products, Zesty and Attend Anywhere, offer patient engagement and video consultation services, respectively. The acquisition valued Induction at approximately £9.7 million, with noted revenues and margins. VitalHub views these products as complementary to its existing offerings, strengthening relationships with healthcare partners and enriching patient experiences. The acquisition aligns with VitalHub’s aggressive M&A strategy, complementing its existing growth through organic opportunities. VitalHub operates a global business, with a notable Innovation Lab in Sri Lanka, and it serves over 1,000 clients worldwide.
Sectors
- Healthcare Technology
- Software Development
Geography
- Canada – VitalHub is headquartered in Toronto, Canada, indicating its central role in the acquisition.
- United Kingdom – Induction Healthcare Group PLC is based in the UK, where the acquisition was legally executed.
Industry
- Healthcare Technology – The acquisition of Induction by VitalHub involves software solutions designed to improve healthcare delivery and patient engagement, a core focus of the healthcare technology industry.
- Software Development – Both companies operate in the software development space, focusing on creating applications that enhance operations within healthcare environments.
Financials
- £9.7 million – The acquisition price of Induction Healthcare by VitalHub.
- £5.4 million – Induction's revenue for the six months ended September 30, 2024.
- 78.2% – Induction's gross margin for the most recent reporting period.
- £0.9 million – Induction's adjusted EBITDA loss.
- £2.2 million – Annual Recurring Revenue from Zesty pre-acquisition.
- £4.6 million – Virtual care recurring revenue from Attend Anywhere pre-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VitalHub Corp. | Acquiring Company | Company | A software company based in Toronto, specializing in health and human services solutions. VitalHub pursued the acquisition as part of its expanded growth strategy. |
| Induction Healthcare Group PLC | Target Company | Company | Provides software solutions to enhance the patient journey in hospitals. Known for products Zesty and Attend Anywhere, aimed at patient engagement and telehealth. |
| Dan Matlow | CEO of VitalHub | Person | The CEO highlighted the strategic fit and value addition brought by Induction's products to VitalHub's portfolio. |
| Christian Sgro | Head of IR and M&A Specialist | Person | Oversees investor relations and the management of M&A activities at VitalHub. |