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PLEASANTON, CA - Healthcare Triangle, Inc. (NASDAQ:HCTI), a technology solutions provider with a current market capitalization of $8.29 million, has completed its acquisition of Niyama Healthcare’s mental health SaaS platform and purchased a 100% equity stake in Ezovion Solutions Private Limited, a hospital information systems provider, the company announced Monday.
The $5.7 million transaction was executed through HCTI’s wholly owned subsidiary QuantumNexis. The deal includes $1.5 million in cash (with $1.2 million paid at closing), $3 million in restricted HCTI common stock, and potential earn-out payments of up to $1.2 million based on first-year performance. According to InvestingPro data, HCTI maintains a healthy balance sheet with more cash than debt and a strong current ratio of 3.07, suggesting adequate resources for the acquisition.
The acquisition gives HCTI ownership of Niyama’s Mental Health SaaS platform, including intellectual property, contracts, and key personnel, along with Ezovion Solutions, known for its integrated Hospital Information System and Electronic Health Records solutions.
"This strategic acquisition aligns with our mission to transform healthcare delivery through intelligent, integrated platforms," said Sujatha Ramesh, Chief Operating Officer of HCTI, according to the press release.
The company stated the acquisition will expand its product offerings in mental health and specialty care, enhance its AI capabilities, add subscription-based revenue streams, and provide cross-selling opportunities across its existing customer base. With current annual revenue of $11.29 million and a gross profit margin of 19.53%, HCTI aims to strengthen its market position through this strategic move. InvestingPro analysis reveals 13 additional key insights about HCTI’s financial position and market performance.
During the transition period through August 15, 2025, Niyama will continue supporting operational continuity while integration with HCTI systems proceeds.
Healthcare Triangle, based in Pleasanton, California, provides technology solutions for healthcare organizations including hospitals, health systems, payers, and pharmaceutical companies. While the company’s overall financial health score is currently rated as WEAK by InvestingPro analysts, this strategic acquisition could potentially improve its market position and financial metrics.
In other recent news, Healthcare Triangle, Inc. is addressing potential delisting from the Nasdaq Stock Market due to its stock price falling below required thresholds. The company had previously received a notification for not meeting the Minimum Bid Price Requirement, and issues related to shareholder dilution have also been raised. In a strategic move, Healthcare Triangle has appointed Mr. David Ayanoglou as the new Chief Financial Officer and Ms. Sujatha Ramesh as a Director on the Board, aiming to strengthen its financial and operational capabilities. Additionally, the company has switched its accounting firm from M&K CPAS, PLLC to SRCO Professional Corporation, ensuring compliance with regulatory standards.
Healthcare Triangle’s shareholders have approved key proposals, including amendments to the 2020 stock incentive plan, which allows for automatic increases in shares available under the plan. The company also announced the appointment of Sujatha Ramesh as the new Chief Operating Officer, leveraging her extensive experience in strategic transformation and operational efficiency. These developments are part of Healthcare Triangle’s ongoing efforts to enhance its corporate governance and strategic growth. The company continues to focus on its core offerings in cloud enablement, cybersecurity, data analytics, and AI, with a commitment to data protection and information security.
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