VitalHub Announces Acquisition of Buddy Healthcare
TORONTO, July 13, 2026 (GLOBE NEWSWIRE) -- Vitalhub Corp. (TSX:VHI) (OTCQX:VHIBF) (“VitalHub” or the “Company”) announced today that it has acquired Buddy Healthcare Ltd Oy (“Buddy Healthcare”), a care coordination platform based in Finland.
Transaction Details
VitalHub has acquired Buddy Healthcare for total up-front consideration of €8.6 million, plus potential performance-based consideration. The purchase price paid at closing was composed of a cash payment of €8.3 million, subject to working capital adjustments, and the issuance of 75,000 common shares of VitalHub. The maximum amount payable under the all-cash earnouts is €4.5 million based on the achievement of performance-based targets at the end of the first two calendar years post-acquisition.
Overview of Buddy Healthcare
Established in 2016, Buddy Healthcare is a leading care coordination platform widely used across Europe, including Finland and the UK. The platform digitalizes specialised care pathways, replacing physical notes, phone calls, and unnecessary visits with automated guidance that keeps patients on track and frees up hospital resources. The platform consists of a web-based application for healthcare professionals and a mobile app for patients, enabling hospitals to deliver consistent, high-quality care.
As at June 30, 2026, Buddy Healthcare had Annual Recurring Revenue(1) of approximately €2.8 million and is approximately Adjusted EBITDA(2) breakeven.
Strategic Opportunity
The acquisition establishes a strategic beachhead in the Nordic healthcare market through a well-regarded platform and experienced local management team, who are fully committed to the future development of Buddy Healthcare and other VitalHub solutions.
The acquisition adds a digital backdoor solution that fills a gap in VitalHub’s existing patient flow suite. Buddy currently has a growing operation and customers in the UK. The combination provides opportunities to accelerate Buddy Healthcare's growth in the UK through VitalHub's existing customer relationships and commercial infrastructure.
The combined offering is highly strategic and further strengthens VitalHub's position as a provider of mission-critical healthcare software that improves access, coordination, and delivery of care.
“Buddy Healthcare represents a highly strategic addition to the VitalHub platform,” said Dan Matlow, CEO of VitalHub. “We have known Buddy Healthcare for a long time and have been impressed by the team's solution and ability to help hospitals digitize and automate complex care digital pathways across over 23 specialties, improving patient engagement while reducing administrative burden for clinicians. The solution is registered as a medical device solution further evidencing its complex workflows in the solution. The acquisition establishes a strong foundation for VitalHub in the Nordic region and strengthens our patient flow and patient engagement capabilities internationally. We believe there is a significant opportunity to accelerate Buddy Healthcare's growth through our broader customer relationships in the UK and across our global markets as it fits in perfectly.”
“Since founding Buddy Healthcare, our mission has been to help care teams deliver more coordinated, efficient, and patient-centred care through practical digital innovation,” said Jussi Määttä, CEO of Buddy Healthcare. “We believe VitalHub is the ideal long-term home for our business, bringing deep healthcare expertise, a strong international presence, and a shared commitment to improving outcomes for providers and patients alike. Over the past decade, we have built a leading care pathway management platform trusted by hospitals across Europe to improve patient preparation, engagement, and recovery. Together, we have an exciting opportunity to expand our impact across existing markets and introduce Buddy Healthcare's platform to a broader global audience.”
About Buddy Healthcare
Buddy Healthcare provides an MDR Class IIa compliant care coordination platform that streamlines perioperative and secondary care pathways. The platform digitises patient communication, assessments, and outcomes, while enabling real-time data visualisation to help care teams prioritise patients, prepare more efficiently for treatment, and support recovery and follow-up.
About VitalHub
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 1,300 clients across the UK, 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 700 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub (TSX:VHI) (OTCQX:VHIBF), please visit www.vitalhub.com and LinkedIn.
Contact Information
Christian Sgro, CPA, CA, CFA
Head of IR and M&A Specialist
(365) 363-6433
christian.sgro@vitalhub.com
Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
dan.matlow@vitalhub.com
Cautionary Statement
This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective business and financial performance, and its financial position.
The forward-looking information in this news release includes discussion about the terms of the acquisition, and about the business of Buddy Healthcare and its potential synergies with the Company and the potential for the international application of Buddy Healthcare’s solutions. VitalHub has made certain material assumptions in making these forward-looking statements, including but not limited to prevailing market conditions, general business, economic, competitive, political and social uncertainties, and the ability of VitalHub and Buddy Healthcare to execute and achieve their respective and combined business objectives. There can be no assurances that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to, the assumptions made with respect to such forward-looking information, adverse market conditions, currency exchange fluctuations, the inability of VitalHub and Buddy Healthcare to successfully integrate operations, reliance on key and qualified personnel, and regulatory and other risks associated with the medical and technology industries in general. The foregoing list of material risk factors and assumptions is not exhaustive. Readers, therefore, should not place undue reliance on any such forward-looking statements.
Non-IFRS and Other Measures
VitalHub uses certain financial and operating performance measures that management believes provide meaningful information in assessing the Company's underlying performance. Readers are cautioned that these measures may not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Accordingly, non-IFRS and supplementary financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Definitions, reconciliations, and an explanation of how the Company's non-IFRS and supplementary financial measures provide useful information to an investor are included below.
(1) Annual Recurring Revenue
Annual Recurring Revenue is a supplementary financial measure defined as annual renewable software licence fees and maintenance services. The Company defines Annual Recurring Revenue as the recurring revenue that is expected based on yearly subscriptions of the renewable software licence fees and maintenance services.
(2) Adjusted EBITDA
Adjusted EBITDA is defined as operating income (loss) before amortization, stock-based compensation expense, interest expense, and other non-recurring items. Adjusted EBITDA is used to assess normalized cash generated on a consolidated basis. Adjusted EBITDA is also a performance measure that may be used by investors to analyze the cash generated by Buddy Healthcare. Adjusted EBITDA should not be interpreted as an alternative to net income (loss) and cash flow from operations as determined in accordance with IFRS or as measure of liquidity.
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