Vaso Corporation (OTCQX: VASO) has agreed to sell its subsidiary VasoHealthcare IT Corp. to Nano‑X Imaging Ltd. (NASDAQ: NNOX) in a transaction valued at up to $800,000. The deal will be paid with $200,000 in cash at closing and up to $600,000 in earn‑out payments that will be triggered by meeting post‑closing revenue targets over a period of up to two years.
The earn‑out structure is designed to align the interests of both parties: Vaso will receive additional payments only if the acquired business achieves the agreed revenue milestones, ensuring that the transaction delivers value to Vaso’s shareholders while providing Nano‑X with a proven U.S. customer base and support infrastructure. The cash component provides immediate liquidity for Vaso, while the earn‑out keeps the upside tied to the performance of the newly acquired assets.
Vaso’s decision to divest VasoHealthcare IT follows a strong Q3 2025 earnings report in which the company posted revenue of $22.7 million, up 9.1% year‑over‑year from $20.8 million in Q3 2024, and a net income of $1.7 million, a turnaround from a $1.2 million loss in the same quarter last year. The sale removes a business that contributed less than 5% of total revenue, allowing Vaso to concentrate resources on its core segments—professional sales services for GE Healthcare, an IT and managed connectivity platform, and a proprietary medical device line—where it has higher margins and recurring revenue potential.
Nano‑X, which focuses on AI‑enhanced medical imaging solutions, reported Q2 2025 revenue of $3.04 million and a net loss of $14.7 million. The acquisition of VasoHealthcare IT is a strategic move to accelerate the deployment of Nano‑X’s AI analytics for routine CT scans in the U.S. market. By integrating Vaso’s established customer relationships and support operations, Nano‑X expects to reduce time‑to‑market for its AI platform and expand its footprint in a market that is increasingly adopting AI for early disease detection.
The proceeds from the sale will be used by Vaso to invest in its remaining business lines and pursue strategic initiatives that support its shift toward higher‑margin, recurring‑revenue services. While the transaction does not alter Vaso’s current guidance, the company’s strong cash position—$34.9 million as of September 30, 2025—and robust operating cash flow of $2.8 million in Q3 2025 provide a solid foundation for future growth.
Dr. Jun Ma, Vaso’s CEO, said the divestiture “allows Vaso to sharpen its focus on core operations and competencies, and it is a positive development for our shareholders.” He added that the proceeds will fund investments in other business lines and strategic initiatives. Erez Meltzer, Nano‑X’s CEO and acting chairman, noted that “scaling our AI business in the U.S. requires control over the entire customer experience—from software delivery through go‑live support,” and that the acquisition will help achieve that goal.
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