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Vitalist Inc. Announces Closing of Acquisition of Somatix and Appointment of Chief Science Officer and Chief Revenue Officer
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Vitalist Inc
[{"type":"text","content":"Vitalist Inc. Announces Closing of Acquisition of Somatix and Appointment of Chief Science Officer and Chief Revenue Officer\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES  CALGARY, Alberta, April 30, 2026 (GLOBE NEWSWIRE) -- Vitalist Inc. (TSX-V: VITA.V; OTCQB: VTLSF) (\"Vitalist\"), a dynamic global smartwatch company known for its strategic partnerships with global brands, is pleased to announce that, further to its news release dated March 31, 2026, it has successfully completed the acquisition (the \"Transaction\") of Somatix, Inc. (\"Somatix\"), a leader in AI-powered remote patient monitoring. Transaction Highlights: Strategic Expansion: Vitalist has entered the high-growth medical wearables and remote patient monitoring sectors.Consideration: Vitalist issued 15,581,854 common shares (the \"Consideration Shares\") to the Somatix stockholders, inclusive of the financial advisory fees noted below, in exchange for 100% of the common stock of Somatix. The Consideration Shares were issued for aggregate deemed consideration of CA$12.3 million. Immediately following closing, the former Somatix stockholders held approximately 23.24% of the issued and outstanding common shares of Vitalist.Net Capital: At closing, Somatix had net capital of approximately US$3.3 million.Funding Commitment: Vitalist intends to allocate not less than US$1.5 million over the next 12 months to the development of its newly-acquired medical sector platform. \"This acquisition represents a transformative step for Vitalist, not only allowing us to enter the medical space, but also providing VitalOS™ with key health and wellness features that brands can utilize on their wearable devices,\" said Kalvie Legat, CEO and Director of Vitalist. \"Somatix brings not only a pipeline of healthcare providers, and valuable intellectual property around powerful health and wellness algorithms, but also a proven leadership team. We are thrilled to welcome Dr. Charles Herman to join Vitalist as Chief Science Officer. Furthermore, we are excited to welcome Nick Padula as Chief Revenue Officer of Vitalist. Their collective expertise will be instrumental as we integrate Somatix's technology and accelerate our commercialization roadmap.\" \"Joining forces with Vitalist is a natural evolution for Somatix and a win f...