Induction Healthcare to be bought by Canada's VitalHub in £9.7m deal

(Sharecast News) - Induction Healthcare said on Thursday that it has agreed to bought by Canadian software firm VitalHub Corp in a £9.7m cash deal. Under the terms of the acquisition, VitalHub will pay 10p per share in cash. This is a premium of about 66.7% to the closing middle-market price of 6p on Thursday.

VitalHub said it views Induction's product set, in particular the Zesty platform, as highly complementary to its existing asset portfolio.

"The company believes that successful integration of Zesty into VitalHub's existing verticals will broaden its product offering, result in group-wide efficiencies, and improve end-user experience leading to improved patient outcomes," it said.

AIM-listed Induction delivers a suite of software solutions "that transforms care delivery and the patient journey through hospital". The company's system-wide applications help healthcare providers and administrators to deliver care at any stage remotely as well as face-to-face.

At 1420 BST, the shares were up 63% at 9.80p.