VitalHub Corp., based in Toronto, Canada, announced that it acquired Novari Health Inc. for $31.9 million.
Headquartered in Canada, with offices in Australia, New Zealand and the United Kingdom, Novari is one of the fastest growing digital health solution providers. The platform offers a series of integrated software modules providing referral management, surgical wait list management, central intake and care coordination.
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 has an offshore development hub in Sri Lanka. The VitalHub team comprises more than 500 team members globally.
VitalHub’s legal advisor was Torkin Manes LLP. Novari’s financial advisor was TD Securities Inc. and its legal advisor was Osler, Hoskin & Harcourt LLP.
VitalHub has acquired Novari for total up-front consideration of $43.6 million CAD (approximately $31.9 million USD), plus potential performance-based consideration. The purchase price paid at closing was composed of a cash payment of $35.8 million CAD (approximately $26.2 million USD), subject to working capital adjustments, and the issuance of 733,726 common shares of VitalHub. The maximum amount payable under the all-cash performance-based earnout is $5 million (nearly $3.7 million USD) over the two-year period following closing.
According to data captured in the LevinPro HC database, this transaction represents the 166th eHealth acquisition of 2025, and 23rd in the medical practice management software (MPMS) specialty. Throughout 2024, 59 MPMS transactions were announced.
