VitalHub Corp. announced that it has acquired Strata Health Solutions Inc., a leading provider of patient flow solutions internationally. Strata Health is being purchased for a total up-front consideration of $32.3 million CAD (approximately $23.3 million USD), plus potential performance-based consideration.
Based in Calgary, Canada, Strata Health designs, builds and deploys software that improves access and navigation to care. Strata Health has more than 80 health system partners and works with more than 500 hospitals to provide more than 800,000 patient transitions annually. The company serves customers in Canada, the United States, the United Kingdom and New Zealand with offices internationally. For the 12-month period ending June 30, 2024, Strata Health had estimated total revenue of C$12.7 million (approximately $9.1 million USD).
VitalHub serves more than 1000 clients across Canada, the United States, the United Kingdom, Australia, the Middle East and Europe with blockchain, mobile and web-based assessment and electronic health record solutions. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The VitalHub team comprises more than 400 team members globally.
Strata Health extends VitalHub’s solution set into the electronic referral market. Ziegler served as financial advisor to Strata Health Solutions for the transaction.
“We are excited to announce our 20th and largest acquisition to-date of Strata Health,” said Dan Matlow, CEO of VitalHub. “We have seen Strata Health grow over the years and believe there is an incredible opportunity to expand electronic referral solutions internationally and to better serve our combined group of healthcare partners.”
The Strata Health acquisition follows VitalHub’s July 2024 acquisition of MedCurrent, a physician-founded clinical decision support company.
According to data captured in the LevinPro HC database, this acquisition represents the 210th eHealth transaction of 2024, and the 27th in the patient engagement specialty. There were 17 patient engagement deals announced during 2023, and 43 announced during 2022.
