Vigil Health Solutions is a leader in innovative call systems and resident monitoring solutions for senior living
VICTORIA – The ASSA ABLOY GROUP subsidiary, ABLOY Canada, has announced it has reached an agreement to purchase Vigil Health Solutions Inc., a Victoria-based proprietary technology company, for $12.55 million.
“We are pleased to announce the proposed acquisition of Vigil by ASSA ABLOY,” says Troy Griffiths, President and CEO. “We are excited about the long-term opportunities that will be created for Vigil customers and employees and what it means for our future technology offerings. For our clients, the robust technology and industry leading service they have come to expect will be augmented with the extensive resources of ASSA ABLOY. Clients will continue to have access to the same Vigil team members, products and service, while gaining access to new products and resources. This will result in one of the most comprehensive product offerings in the seniors.”
Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding seniors’ housing market. Vigil’s product range includes the wireless Vitality Care System™ featuring discreet ‘mini pendants’, a nurse call system, mobile fall and incontinence monitoring, resident check in and the award-winning Vigil Memory Care System.
The all-cash Transaction for 100% of the Company’s common shares represents a 31% premium over Vigil’s closing price on January 14, 2022 on the TSX Venture Exchange (TSXV) and a 34% premium over the 30-day volume weighted average share price of Vigil’s common shares on the TSXV.
The Transaction was approved by Vigil’s board of directors on January 14, 2022. Vigil’s Board has also resolved to recommend to securityholders that they vote in favor of the transaction.
