Vaso Corporation to sell VasoHealthcare IT to Nano-X Imaging

Vaso Corporation (VASO) hasreached an agreement, subject to certain conditions, with Nano-X Imaging (NNOX) to sell one of its subsidiaries, VasoHealthcare IT Corp. The parties intend to complete the sale within a couple of weeks. VasoHealthcare IT Corp., a healthcare IT application value added reseller, is a division of Vaso’s information technology business segment. VasoHealthcare IT provides imaging information technology to hospitals and healthcare providers and represented less than 5% of Vaso’s total revenue. The transaction consideration is up to $800,000, with $200,000 payable at closing and up to $600,000 as an earnout based on the post-closing performance of the business. Vaso expects to use the proceeds from the sale to invest in its other business lines and for strategic initiatives.