11:43 AM EDT, 07/07/2025 (MT Newswires) -- Vitalhub ( VHIBF ) on Monday rose 4.6% after it agreed to acquire Novari Health, which makes software to monitor patient flows and is based in Kingston, Ontario, for $43.6 million plus potential performance-based consideration.

The company said the purchase price paid at closing was composed of a cash payment of $35.8 million, subject to working capital adjustments, and the issuance of 733,726 shares. The maximum amount payable under the all-cash performance-based earnout is $5 million over the two-year period following closing.

"We have watched the success of Novari in the Canadian landscape for over a decade, and are honoured to welcome the team to the VitalHub ( VHIBF ) platform," said chief executive Dan Matlow. "We have solidified our leading position in the Canadian patient flow market, which we believe will be a long-term area of growth in the country's digitalization journey

Shares of the company were last seen up $0.52 to $11.28 on the Toronto Stock Exchange.

Price: 11.28, Change: +0.52, Percent Change: +4.83