M&A Deal Summary

VitalHub Acquires Strata Health

On October 30, 2024, VitalHub acquired software company Strata Health from Polaris Partners for 37M CAD

Acquisition Highlights
  • This is VitalHub’s 3rd transaction in the Software sector.
  • This is VitalHub’s largest (disclosed) transaction.
  • This is VitalHub’s 4th transaction in Canada.
  • This is VitalHub’s 1st transaction in Alberta.

M&A Deal Summary
Date 2024-10-30
Target Strata Health
Sector Software
Buyer(s) VitalHub
Sellers(s) Polaris Partners
Deal Type Add-on Acquisition
Deal Value 37M CAD
Advisor(s) B.C. Ziegler and Co. (Financial)

Target

Strata Health

Calgary, Alberta, Canada
Strata Health is an all-in-one Referral Management Solution for hospitals and health systems. Using digital tools and automated workflows, Strata Health’s integrated software provides a better solution for patient engagement, case management, and post-acute care provider workflows in the transitions of care process. Strata Health was founded in 2001 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

VitalHub

Toronto, Ontario, Canada
Category Company
Sector Internet Software and Services
Employees353
Revenue 53M CAD (2023)
DESCRIPTION

VitalHub is a developer of a blockchain, mobile and web-based software solutions for the mental health and long term care sectors. VitalHub is headquarted in Toronto, Canada.

DEAL STATS #
Overall 11 of 11
Sector (Software) 3 of 3
Type (Add-on Acquisition) 9 of 9
State (Alberta) 1 of 1
Country (Canada) 4 of 4
Year (2024) 3 of 3
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-30 MedCurrent

Toronto, Ontario, Canada

MedCurrent is focused on improving the quality of care and managing health system costs through its innovative Clinical Decision Support (CDS) platform, enabling real-time, evidence-based guidelines integrated at the point of care to improve health and healthcare delivery. It serves 80+ organizations throughout Canada, the United Kingdom, the United States of America, and Australia with its 15 team members based in Canada and the United Kingdom. MedCurrent is based in Toronto, Ontario.

Buy CA$34M

Seller(S) 1

SELLER

Polaris Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1996
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Polaris Partners is primarily a seed, first round, and early stage venture capital investor in information technology and life science businesses. However, Polaris also focuses on private equity investments in established companies. In this area, Polaris targets high growth middle market companies in industries including technology, healthcare, digital media, consumer products and services, and business services. The firm's investments include minority growth equity investments, recapitalizations with liquidity, and leveraged buyouts. Polaris Partners was formed in 1996 and has offices in Seattle, Washington and Waltham, Massachusetts.

DEAL STATS #
Overall 33 of 33
Sector (Software) 5 of 5
Type (Add-on Acquisition) 15 of 15
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2024) 4 of 4
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-01 Jnana Therapeutics

Boston, Massachusetts, United States

Jnana Therapeutics is developing drugs against a broad family of metabolite transport proteins to treat high unmet needs in auto-immune, immuno-metabolism, and other diseases. Jnana Therapeutics was founded in 2017 and is based in Boston, Massachuserrs.

Sell $800M
Mergr

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