Hicom Acquired by VitalHub
Hicom Acquired by Toronto Stock Exchange Listed Acquirer VitalHub
VitalHub have acquired 100% of the equity capital of Hicom Technology Limited, a world leader in diabetes healthcare management and hospital information systems. Hicom have become a trusted technology partner for many Healthcare organisations, providing innovative secure solutions that allow healthcare professionals to deliver exceptional patient care.
VitalHub is a growing, ambitious multi-country healthcare technology business that is building an ever more comprehensive solution set to support numerous requirements across healthcare environments. Vital Hub already serve technology needs in areas from Acute care to long term and senior, as well as automating the support of community health care. Their growing Specialty Care and Cardiology focus will be enhanced by the Diabetes specialisation from Hicom.
This latest transaction again demonstrates Entrepreneurs Hub ability to search for globally relevant partners looking to invest in premium UK businesses, ready to join larger organisations and take their place on the global stage. The synergies through this transaction are compelling.
Andrew Shepperd – Director, Entrepreneurs Hub and Deal lead
Entrepreneurs Hub are proud to have advised on the acquisition of Hicom. We are always excited to support businesses that are serving globally important issues. Diabetes is sadly a growing challenge for the world. What Hicom have created with Diamond and Twinkle, the paediatric version, is an exceptional platform that is yet another tool in the clinician’s armoury to help patients and mitigate the impact of Diabetes. Hicom have also taken on the challenge of other critical areas of need including recruitment and CPD management solutions for healthcare providers.
Dan Matlow, VitalHub CEO, commented on the Acquisition stating, “We are extremely excited to welcome Hicom to the VitalHub family. With this acquisition, Hicom brings the expansion of VitalHub’s existing customer base with the addition of 200 customers on an international basis and introduces six new solutions with potential for cross selling into our existing base. Hicom’s market-leading diabetes management systems, Diamond and Twinkle, are currently used by greater than 100 customers worldwide. We believe these solutions can be offered to an international customer base. The long-established expertise of the HICOM team is truly amazing and we expect their impact will be extremely synergistic in short order.”
“We have been involved in Hicom since inception and over that time we have developed fantastic relationships with our colleagues and our clients and delivered software that has made a real difference” said John Sanderson and Bruce Richards, the principals of Hicom. “The acquisition by VitalHub is a new and exciting chapter in Hicom’s story and provides a great opportunity for Hicom to accelerate its growth, while remaining true to our core values, brand and people. With a shared vision, both VitalHub and Hicom can maximise benefits from our products and market through a combination of talent, expertise and ambition, creating significant value for the investors, security and innovation for our clients, and career opportunities for our colleagues. We are both proud of what Hicom has achieved to date and we are looking forward to seeing the VitalHub group evolve and grow with the union of these two great organisations. We would also like to add our thanks to Entrepreneurs Hub to whom we are indebted for their tireless work at every stage of this deal to help us achieve this great outcome.”
Hear from the business owner directly
The value of expert guidance – Hicom
“Entrepreneurs Hub, Hicom was one entity at the latter stages. It was all very much a team effort.”
Achieving shareholder goals – Hicom
“I don’t think it could have been done any quicker… The valuation we got was above our floor by a reasonable amount.”
Building a successful business – Hicom
“We always delivered software as a service, and with an emphasis on the service…”
Getting inside the heart of a complex business – Hicom
“You understood it to the point where your representatives could talk quite fluently with potential acquirers about what we are doing as a business…”
The who, when and how of informing employees – Hicom
“My biggest concern throughout all of this was how our staff and our clients would feel about the deal…”
Keeping an open mind on potential acquirers – Hicom
“They were a surprise to us… we had to do research on them!”
Selecting an advisor – Hicom
“I think I could relate to you better than some of the others we had spoken to… you invested a lot of time in our deal”
The impact of competitive tension – Hicom
“We wanted more than one player to make an offer for us… We had three really interested parties, but we narrowed it down to two.”
Making the decision to sell – Hicom
“The last thing I wanted to do was be was the boxer that has one fight too many and gets knocked out in the first round…”
Life after the sale – Hicom
“I hate the term work life balance, but now I’ve got mainly life and a little bit of work…”
