HealthHub Patient Engagement Solutions Inc., a Nova Scotia-based interconnected healthcare technology company that has been serving hospitals and patients for over 50 years, filed an NOI on June 28 listing approximately $34 million in liabilities, including approximately $24 million to senior secured lender TD Bank.
At present, HealthHub supplies TVs and tablets for patient entertainment and software-enabled hospital efficiencies, the latter of which is the current focus of the business. HealthHub is currently operating in over 180 hospitals with over 24,000 units installed across Canada.
HealthHub’s growth trajectory was severely impacted by the Covid 19 pandemic and its associated regulatory and hospital-specific protocols, which effectively prevented HealthHub’s ability to enter hospitals to install units in accordance with its contracts. In addition, HealthHub experienced a serious cyber-attack at the outset of the pandemic which compromised its ability to operate for a period of time.
HealthHub initially defaulted on its debt to TD Bank in 2021, and 11 forbearance agreements have been entered into since that time.
The company has also been struggling to meet other obligations as they come due, including to its video/ISP provider Rally Enterprises & Communication Corporation.
Grant Thornton is the proposal trustee.
Counsel is O’Keefe & Sullivan for HealthHub, Chaitons for 1001285202 Ontario Inc., and Stewart McKelvey for Rally.
