Novari Health Inc. in its acquisition by VitalHub Corp. Novari Health Inc. in its acquisition by VitalHub Corp.

On July 7, 2025, Vitalhub Corp. (TSX:VHI) (OTCQX:VHIBF) (VitalHub) announced it has acquired Novari Health Inc. (Novari) for $43.6 million, plus potential performance-based consideration. The purchase price paid at closing was composed of a cash payment of $35.8 million, 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 $5.0 million over the two-year period following closing.

This acquisition will strengthen VitalHub’s position within the Canadian market and VitalHub will leverage its international footprint to more rapidly expand Novari’s penetration globally, particularly in the U.K.

Novari operates as a leading healthcare software provider regarding patient flow solutions based in Canada. Novari’s platform offers a series of integrated software modules providing referral management, surgical wait list management, central intake and care coordination. Health systems, hospitals and regional health authorities leverage Novari’s cloud-based technologies to drive down wait times and ensure that the right patients get treated at the right time and by the right provider. Headquartered in Canada, with offices in Australia, New Zealand and the United Kingdom, Novari is one of the fastest growing digital health solution providers.

VitalHub is a leading software company dedicated to empowering health and human services providers globally. VitalHub’s comprehensive product suite includes electronic health records, operational intelligence and workforce automation solutions that serve over 1,000 clients across the U.K., Canada and other geographies. The Company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive M&A plan. VitalHub is headquartered in Toronto with over 500 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka.

Osler, Hoskin & Harcourt LLP advised Novari with a team consisting of Hugo-Pierre Gagnon, Joshua Blatt, Vincent Legault and Emilie Han Xiong (Corporate), Jean-Philippe Dionne (Tax), François Joli-Coeur (Privacy), Sam Ip (Technology), Kelly Moffatt (Commercial), Kelly O’Ferrall (Employment and Labour), Julien Ranger (Pensions and Benefits), Sandra Sbrocchi and Sergey Stefanishin (Osler Works – Transactional).