HEALWELL AI to Acquire VeroSource Solutions
June 11, 2024
HEALWELL AI Inc. has agreed to acquire VeroSource Solutions Inc. for total consideration of approximately $24.5 million in a two-step transaction (initial ~51% on July 1, 2024 and remaining ~49% expected about January 1, 2025), payable in cash, HEALWELL subordinate voting shares and a performance-based earn-out. VeroSource, a Canadian health-data interoperability and digital-front-door platform serving provincial health clients, is expected to generate over $8 million in 2024 with strong recurring revenue and margins and will expand HEALWELL's population-health and AI-driven capabilities.
- Buyers
- HEALWELL AI Inc.
- Targets
- VeroSource Solutions Inc.
- Industry
- Healthcare Services
- Location
- New Brunswick, Canada
- Transaction Type
- Buyout
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