04:48 PM EDT, 10/30/2024 (MT Newswires) -- Vitalhub ( VHIBF ) said Wednesday afternoon it agreed to acquire Strata Health Solutions for an initial payment of C$32.3 million, with additional performance-based payments possible.

At closing, the purchase price included a cash payment of C$18.6 million and 1.48-million shares of VitalHub ( VHIBF ). An additional cash earn-out of up to C$4.5 million can be paid from closing until June 30, 2027.

Strata Health is based in Canada and develops software that enhances access to care. It partners with over 80 health systems and works with more than 500 hospitals, according to the statement.

The company's shares closed up $0.26 to $9.51 on the Toronto Stock Exchange.