Health Catalyst Closes $147M Vitalware Sale, Pays Off All Debt
HCAT sits 95% above its 52-week low of $0.955.
Summary
Health Catalyst completed the $147 million sale of its Vitalware unit, using the proceeds plus cash on hand to fully repay its credit facility. The debt elimination removes roughly $19 million in annual interest expense, strengthening the balance sheet after a Q1 that included a $111 million net loss and a $95.5 million goodwill impairment. The company is now debt-free and plans to focus investment on its core healthcare intelligence platform. This follows the June 4 divestiture announcement and the July 17 shareholder vote against board declassification.
At the time of this announcement, HCAT was trading at $1.86 on NASDAQ in the Technology sector, with a market capitalization of approximately $170.7M. The 52-week trading range was $0.96 to $3.88. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.