VitalHub has announced its acquisition of Canadian-based Strata Health, a company offering solutions relating to patient access and “navigation to care”, reporting a “total up-front consideration of C$32.3 million, plus potential performance-based consideration”.
Dan Matlow, CEO of Toronto-based VitalHub, welcomed the company’s “largest acquisition to date”, highlighting the acquisition of Strata Health as “an incredible opportunity to expand electronic referral solutions internationally and to better serve our combined group of healthcare partners”.
The announcement notes: “For the 12-month period ending June 30, 2024, Strata Health had estimated total revenue of C$12.7 million. As at the acquisition closing date of October 29, 2024, Strata Health had Annual Recurring Revenue of approximately C$12.3 million.”
Both organisations support NHS organisations with their platforms. According to VitalHub’s announcement, Strata Health is currently partnered with around 80 health systems and 500 hospitals, and has “optimised over 17 million transitions of care worldwide”.
Funding and acquisition news from the health tech space
In October, Huma, a global company offering AI and digital healthcare solutions, announced its acquisition of eConsult, a digital-first triage and automated consultation platform.
DeepHealth, provider of a portfolio of AI solutions designed to support breast, lung, prostate and neurological care, also acquired London-based cancer diagnostic company Kheiron Medical Technologies Limited, as part of efforts to expand its portfolio of AI-powered diagnostic and screening solutions.
November brought news from X-on Health, who announced they would be joining forces with Hanley Consulting to help tackle one of the most persistent challenges in primary care: the “8am rush” for GP appointments. This partnership brings powerful technologies, data analytics, and expert services together to achieve their shared goal of transforming patient access to primary care.
London-based Scalpel AI, combining computer vision and machine learning to identify and track surgical instruments, also raised £3.8 million in a funding round designed to help the company scale its global operations and roll out its technology across the healthcare supply chain.
