On November 21, 2019, VitalHub Corp. (TSXV: VHI) announced that it had closed its acquisition of all of the issued and outstanding shares of Oculys Health Informatics Inc. Total consideration paid by VitalHub, after a closing net equity adjustment, was approximately $4,227,000, composed of an issuance of common shares of VitalHub and a cash payment.
Oculys, headquartered in Kitchener, Ontario, provides a real-time and predictive operational management system for hospitals, focusing on the efficiency and effectiveness of patient care. Oculys reduces patient management bottlenecks by tapping into the disconnected silos of hospital administration systems and electronic medical record systems, and develops practical operational visibility solutions for healthcare professionals.
VitalHub, based in Toronto, Ontario, with an offshore innovation hub in Sri Lanka, develops and supports mission-critical information systems in the Social Service, Mental Health, Long Term Care, Community Health Service, Home Health and Hospital sectors. VitalHub technologies include Blockchain, Mobile, and Web-Based Assessment, Client Management and Electronic Health Record solutions.
Gowling WLG was counsel to Oculys with respect to this transaction with a team that included Tom Hunter, Jennifer Charles and Adam Carlin (corporate/M&A).