WPF HOLDINGS, INC. WPF Holdings, Inc. (OTCPK:WPFH) has signed a definitive agreement to acquire Virtual Health Holdings, Inc for approximately $210 million on October 4, 2023. The acquisition will be a stock for stock exchange and WPF Holdings, Inc. will issue 6 million unregistered common shares for all of the outstanding common shares of Virtual Health Holdings, Inc. An additional 4 million shares of WPFH may be issued as part of the acquisition of control from the former control block owner if certain performance standards are met over the next two years. Closing is expected by October 15, 2023.
VHHI will remain as a holding company under WPFH and will manage the telehealth operations acquired in the transactions as well as any new healthcare related acquisitions by WPFH. Chales Scott, CEO of VHHI, will remain as Chairman and CEO of VHHI and also join the Board of Directors of WPFH.
