MPS Limited has completed its strategic acquisition of Unbound Medicine Inc., USA for $15.18 million, marking a transformative entry into the healthcare knowledge management sector. The acquisition was executed through MPS North America LLC, a wholly-owned subsidiary, and positions the company at the intersection of healthcare and artificial intelligence.

Strategic Healthcare Intelligence Platform

Unbound Medicine operates as a leader in healthcare knowledge management with over 20 years of clinical expertise. The platform serves more than 1,000 healthcare facilities and supports over 5 million clinical lookups annually across 50+ evidence-based databases. The company maintains a robust subscription-based recurring revenue model with 97% customer retention rates.

The platform provides end-to-end healthcare knowledge curation and streamlining, enabling foundational education, just-in-time learning, and informed decision-making for clinicians, educators, and students.

Market Opportunity and Growth Potential

The acquisition targets a market with significant growth drivers, including a projected global healthcare AI and knowledge management market reaching $188 billion by 2030. The AI-driven knowledge management subsector specifically is expected to grow from $3 billion to $102 billion by 2034 at a 42% CAGR.

Unbound's platform addresses critical healthcare challenges, particularly the projected deficit of 10 million health workers by 2033. In the U.S. alone, 57% of physicians cite reducing administrative burden as their top priority, creating substantial demand for intelligent healthcare solutions.

Financial Performance and Margin Expansion Strategy

Unbound currently operates with a 14% EBITDA margin, which MPS plans to systematically improve through operational synergies and shared infrastructure.

The margin expansion strategy focuses on shared services implementation, operational efficiency improvements using MPS tools and technology, and infrastructure optimization including cloud services.

Technology Integration and Competitive Advantages

Unbound differentiates itself through several key technological moats:

• Clinical Authority: Partnerships with marquee institutions like Johns Hopkins for specialized tools like the Hopkins Antibiotic Guide
• Workflow Integration: Seamless API integration into hospital Electronic Health Record (EHR) systems
• AI-Native Architecture: Unified platform spanning reference, education, and test prep with proprietary analytics
• Rapid Authoring: AI-powered delivery of tailored solutions faster than legacy competitors

The platform operates three core solutions: Nursing Central for nursing education, uCentral for medical centers, and Society Solutions for professional medical associations.

Cross-Selling and Geographic Expansion

MPS plans to leverage its global presence to expand Unbound beyond North America into Europe, APAC, and the Middle East. The company expects significant revenue growth through geographic expansion and cross-selling opportunities.

Key expansion strategies include:

• Utilizing MPS's established presence in international markets
• Cross-selling MPS solutions to Unbound's customer base
• Marketing Unbound platform to MPS's existing institutional partnerships
• Leveraging AJE's strong presence in China where 70% of revenue comes from universities and medical institutions

Management and Integration

The acquisition maintains operational continuity with minimal management changes. Founder and CEO Bill Detmer transitions to a strategic advisor role, while the existing management team including CTO, Head of Sales, Head of Marketing, and Head of Product continue in their positions. The management team has been provided with phantom options at the MPS level.

Transaction Details

The final transaction value of $15.18 million reflects post-closing adjustments from the initially disclosed $16.5 million. MPS funded the acquisition through INR 42 crores of debt, which the company considers comfortable given its improved balance sheet and reduced DSO from 60 to 45 days.

Source: None/Company/INE943D01017/cb02d392-0286-4f6f-ae3a-68b7e831c1fd.pdf

MPS Limited shareholders have overwhelmingly approved two special resolutions through postal ballot voting, demonstrating strong support for key corporate governance and operational decisions. The voting process concluded on 06 February 2026, with results announced on 09 February 2026 through an official scrutinizer report.

Voting Results Overview

The postal ballot process covered two critical resolutions, both of which received requisite majority approval from shareholders. Out of 30,479 total shareholders holding 1,71,05,816 shares, 103 shareholders participated in the remote e-voting process conducted by Central Depository Services (India) Limited (CDSL).

Director Re-appointment Approved

Shareholders approved the re-appointment of Mr. Suhas Khullar (DIN: 07593659) as Independent Non-Executive Director with overwhelming support. The resolution received 12,987,750 votes in favour, representing 99.95% of total valid votes cast, while only 5,920 votes were cast against, representing 0.05% of the total.

Mr. Khullar will serve a second term of five consecutive years from 01 January 2026 to 31 December 2030. His initial appointment as Independent Director was for a two-year term starting 01 January 2024, which expired on 31 December 2025.

Registered Office Relocation Sanctioned

The second resolution regarding the shifting of the company's registered office received even stronger support, with 12,993,559 votes in favour representing 99.999% of valid votes cast. Only 110 votes were recorded against the resolution, representing 0.001% of the total.

The registered office will be relocated from RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai, Tamil Nadu – 600032 to Block-B6, 3rd Floor, Gateway Office Parks, No. 16, G.S.T Road, Perungalathur, Chennai, Tambaram, Kanchipuram, Tamil Nadu-600063, effective from 01 April 2026.

Official Documentation and Compliance

The company has submitted the official scrutinizer report to both NSE (Symbol: MPSLTD) and BSE (Scrip Code: 532440) under Regulation 44(3) of SEBI Listing Regulations. R. Sridharan & Associates, Company Secretaries, served as the appointed scrutinizer for the postal ballot process.

The voting process was conducted through remote e-voting from 08 January 2026 (9:00 a.m. IST) to 06 February 2026 (5:00 p.m. IST). The voting results and scrutinizer's report have been made available on the company's website at www.mpslimited.com and CDSL's website at www.cdslindia.com , ensuring transparency and compliance with regulatory requirements.