- VitalHub Corp. (VHI) has acquired Hicom Technology Limited, a company incorporated and registered in England and Wales
- VitalHub acquired Hicom through a share acquisition by its wholly-owned subsidiary, VitalHub UK Limited, for a purchase price of £8,700,000
- The purchase price paid consisted of a cash payment of £7,825,000 and 475,104 shares of VitalHub
- Hicom is a UK-based developer of software
- VitaHub is a technology company that provides software for health and human services
- Vitalhub Corp. (VHI) is up 1.7 per cent, trading at $3.00 per share at 10:05 AM ET
VitalHub (VHI) has acquired Hicom Technology Limited, a company incorporated and registered in England and Wales.
VitalHub acquired Hicom through a share acquisition by its wholly-owned subsidiary, VitalHub UK Limited, for a purchase price of £8,700,000.
The purchase price paid consisted of a cash payment of £7,825,000 and 475,104 shares of VitalHub to the shareholders of Hicom.
The share consideration was calculated at a price of $3.016 per VitalHub share and represents a total value to the vendors of £875,000.
Fifty percent of the share consideration shall be subject to contractual trading restrictions for a period of six months.
In addition, the sellers could receive future contingent payments of up to £1,550,000 based on Hicom achieving certain post-closing milestones.
“We are extremely excited to welcome Hicom to the VitalHub family,” said Dan Matlow, VitalHub CEO.
“With this acquisition, Hicom brings the expansion of VitalHub’s existing customer base with the addition of 200 customers on an international basis and introduces six new solutions with potential for cross selling into our existing base,” he added.
“We have been involved in Hicom since inception and over that time we have developed fantastic relationships with our colleagues and our clients, and delivered software that has made a real difference,” stated John Sanderson and Bruce Richards, the principals of Hicom.
“The acquisition by VitalHub is a new and exciting chapter in Hicom’s story and provides a great opportunity for Hicom to accelerate its growth, while remaining true to our core values, brand and people,” they added.
Hicom is a UK-based developer of software that automates healthcare and business processes across a diverse 200+ strong client base.
VitaHub is a technology company that provides software for health and human services.
Vitalhub Corp. (VHI) is up 1.7 per cent, trading at $3.00 per share at 10:05 AM ET.
