VITALHUB CORP. is pleased to announce today that it has acquired (the “Acquisition”) Beautiful Information Limited (“Beautiful Information” or “BI”), a company incorporated and registered in England and Wales.
VitalHub has acquired Beautiful Information, via a share acquisition by its wholly-owned subsidiary, The Oakgroup (UK) Limited, for a total purchase price of £1,550,000, subject to any post-closing working capital adjustments. The purchase price was satisfied by payment of £1,386,059 in cash and the issuance of 90,266 shares of VitalHub to the shareholders of Beautiful Information (the “Share Consideration”). The Share Consideration was calculated at a price of $3.026 per VitalHub share and represents total value to the vendors of £163,941.
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For the 12-month period ending December 31, 2021, Beautiful Information has estimated revenue of approximately £1,000,000, of which the Company anticipates £600,000 to be recurring in nature.
Beautiful Information was founded as the first NHS/private partnership of its kind, supported in its development by Kent Surrey Sussex Academic Health Science Network, East Kent Hospitals University NHS Foundation Trust and Ashford St Peters NHS Foundation Trust. BI offers unique real-time information to NHS trusts to help them plan and resource clinical services to meet hourly fluctuations in patient flow, and provides their solutions across a range of UK NHS organizations.
BI solutions will be added to an existing portfolio of VitalHub patient flow product offerings, creating a more robust suite of operational visibility and efficiency products.
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Dan Matlow, VitalHub CEO, commented on the Acquisition stating “adding Beautiful Information’s solutions to our existing suite of Patient Flow and operational visibility products will serve to increase our customer base, while expanding our technology and advisory capabilities. The BI team brings extensive healthcare data expertise across the NHS and when combined with our existing Alamac and Transforming Systems products, creates strong synergies that position VitalHub as the leader in the UK for these types of solutions. We look forward to continuing to sell this integrated product suite across this NHS, while simultaneously leveraging these tools across our commercial footprint.”
Dr. Marc Farr, Founder of Beautiful Information adds that “combining Beautiful Information, Transforming Systems and Alamac creates, for the first time, an organization that can track in real-time the clinical journey of the patient at the individual level and aggregate it to provide a regional and national view of flow and system pressure. We believe that putting this information in the hands of operational managers will create a new opportunity to alert more quickly on how resources can be flexed at any time to reduce system inefficiencies before they occur.”
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