Vitalhub Corp. (TSXV:VHI) entered into an agreement to acquire Assets of On-premises Acute (hospital) queue management business of Jayex Healthcare Limited (ASX:JHL) for AUD 4.2 million on April 12, 2021. Out of total consideration, Vitalhub will pay AUD 1.9 million in cash and AUD 0.47 million by issue of 150,078 Vitalhub shares. The cash component will be subject to a six month Escrow Agreement in the sum of AUD 0.28 million on completion. Consideration also includes an earnout component to the transaction, where over the 24 months preceding completion, Jayex will receive 50% of revenue earned in excess of the Transferred Recurring Revenue in cash, capped at AUD 1.8 million. As a part of transaction, Vitalhub to purchase all existing hospital contracts in the UK and Australia from Jayex, includingan Enlighten license to operate the services. Jayex retains all IP and ownership of the Enlighten technology stack. Business reported a revenue of approximately £0.42 million (AUD 0.76 million) for the year ended December 31, 2020. Six employees will transfer to Vitalhub under the arrangement. Transaction is subject to customary closing conditions including ongoing due diligence of the queue management business of Jayex by VitalHub. Transaction is expected to complete at the end of April 2021.

Vitalhub Corp. (TSXV:VHI) completed the acquisition of Assets of On-premises Acute (hospital) queue management business of Jayex Healthcare Limited (ASX:JHL) on May 17, 2021.