Vitalhub acquires B Sharp Technologies
October 18, 2017
“We are excited to announce the completion of the B Sharp Technologies transaction and to begin the process of integrating our two companies,” said Dan Matlow (pictured) CEO of Vitalhub. “B Sharp Technologies is a strong, established company that possesses great solutions and an established customer base in the growing mental health and long term healthcare spaces. We are optimistic about the growth opportunities associated with combining Vitalhub’s Mhealth platform with B Sharp Technologies’ offerings.”
“Joining forces with the Vitalhub team is an exciting opportunity to create a new organization that has a stronger ability to create and market innovative solutions to serve the growing mental health, specialty health service providers and the long term care sector,” said Robert Lazar, CEO of B Sharp Technologies. “The combination of our organizations brings together technology and expertise to benefit our existing and future customers.”
The purchase price for the acquisition was $3.8 million. The principal shareholders of B Sharp Technologies are Vijit Coomara, Robert Lazar and Anthony Iantorno.
On closing of the acquisition, Mr. Coomara and Mr. Lazar are to join Vitalhub’s management team as Executive Vice President Professional Services and Executive Vice President Development, respectively.
About B Sharp
Founded in 1998 and based in Toronto, B Sharp Technologies develops and deploys client case management and electronic documentation solutions for healthcare, social services, and community care organizations. B Sharp Technologies also has software development operations in Sri Lanka, providing access to skilled and low cost developers. The products of B Sharp Technologies are used by over 40 customers in 70 locations across Canada. B Sharp Technologies had total unaudited revenues from operations of over $1.8 million for the year-ended December 31, 2016.
Founded in 2012, VitalHub delivers an innovate platform for mHealth, a modularized and standardized solution for creating mobile health applications. The VitalHub platform provides the control, security, privacy and consistency essential in the healthcare industry. VitalHub includes apps for clinical care, communications, and medical research, and the platform to expand this to other areas. VitalHub is based in Toronto, Ontario.