Davender Sohi
About Davender Sohi
Davender (Dave) Sohi, 43, is President of BTTR (renamed SRx Health Solutions, Inc.), appointed upon closing of the SRx merger on April 24, 2025; he previously served as SRx’s Chief Financial Officer and holds CPA, CA and CBV designations with prior roles in EY valuations and as CFO of Avicanna through its 2019 TSX IPO . SRx delivered CAD$161.5M revenue in FY2023 vs CAD$127.9M in FY2022, while reporting Adjusted EBITDA of CAD$11.4M in FY2023 and CAD$6.2M for the nine months ended June 30, 2024, providing context for pay-for-performance alignment during his finance leadership tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SRx Health Solutions / SRx Health Solutions, Inc. (BTTR post-merger) | President | 2025–Present | Executive leadership role post-merger; responsible for finance transformation and decision support as Company President . |
| SRx Health Solutions Inc. | Chief Financial Officer | Not disclosed (prior to 2025) | Led finance; signatory for SRx on Arrangement amendments, contributing to transaction execution . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Avicanna Inc. | Chief Financial Officer | 2019 | Helped complete the company’s IPO on the Toronto Stock Exchange in 2019, adding public markets and transaction experience . |
| Ernst & Young | Advisory (Valuations & M&A) | Not disclosed | Built valuations/M&A expertise relevant to capital allocation and deal execution . |
| Independent Practice | Accounting & Consulting | Not disclosed | Operated own consulting business, reinforcing hands-on finance and advisory capabilities . |
Fixed Compensation
| Metric | FY 2023 |
|---|---|
| Base Salary (CAD$) | 280,000 |
Notes:
- SRx’s proxy-reported executive compensation table (as of Sept 30, 2023) lists Mr. Sohi’s base salary at CAD$280,000; subsequent Company (post-merger) NEO tables did not include Mr. Sohi for 2024 .
Performance Compensation
| Award | Grant/Value (CAD$) | Performance Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|---|
| RSUs (SRx) | 785,008 | Not disclosed | — | — | — | — | All outstanding SRx RSUs were deemed vested at the merger’s Effective Time per Plan of Arrangement . |
Notes:
- The filings do not disclose metric weightings/targets tied to Mr. Sohi’s RSUs; however, the Plan of Arrangement explicitly accelerated vesting of all SRx RSUs at closing, a potential supply overhang mitigated to the extent lock-ups apply (a form of Lock-Up Agreement is attached as Annex F) .
Equity Ownership & Alignment
| Metric | Value | As of |
|---|---|---|
| Beneficial ownership (shares) | 471,829 | April 24, 2025 |
| Ownership (% of outstanding) | 1.3% | April 24, 2025 |
Additional context:
- The ownership table reflects 35,233,010 shares outstanding pro forma at closing; Mr. Sohi’s holding aligns incentives, though filings reviewed do not specify any pledging or hedging by Mr. Sohi .
- Former SRx shareholders broadly hold a majority of the combined company after closing (c.84–87% depending on measure), indicating strong founder/executive equity orientation at the top team level .
Employment Terms
- Appointment: Named President effective April 24, 2025 in connection with the SRx merger closing .
- Employment agreement/severance: The April 30, 2025 8-K and January 28, 2025 proxy do not detail Mr. Sohi’s individual employment contract, severance, or change‑of‑control terms. The Arrangement covenants acknowledge SRx would honor existing employee plans and employment agreements, including any severance or change‑of‑control payments if applicable (recipient specifics not disclosed) .
- Equity acceleration at closing: All SRx RSUs outstanding immediately prior to the Effective Time were deemed vested and converted to shares subject to the exchange, per Plan of Arrangement .
- Lock-up: The proxy includes a Form of Lock-Up Agreement (Annex F), though individual durations/terms for Mr. Sohi were not specified in the excerpts reviewed .
Investment Implications
- Alignment and insider signaling: A 1.3% beneficial stake (471,829 shares) provides tangible skin-in-the-game for a newly appointed President with a finance/operator background, supporting incentive alignment with shareholders .
- Supply overhang risk vs lock-ups: Immediate vesting of SRx RSUs at closing can create selling pressure upon lock-up expiry; the presence of a Lock-Up Agreement form suggests mitigants, but specific terms for Mr. Sohi were not disclosed in the filings reviewed .
- Retention and change-of-control economics: Filings do not disclose Mr. Sohi’s severance or CIC package; the Arrangement notes SRx would abide by existing plans/agreements, implying potential obligations but leaving retention economics opaque—a factor for retention risk assessment .
- Execution record: As SRx CFO, Mr. Sohi contributed during a period where SRx reported CAD$161.5M revenue in 2023 (vs CAD$127.9M in 2022) and Adjusted EBITDA of CAD$11.4M in 2023, suggesting operating scale and profitability discipline critical to deleveraging and capital access post‑merger .
- Company-level risk backdrop: The post-merger 8‑K includes a going-concern emphasis, underscoring reliance on disciplined execution and capital management—areas aligned with Mr. Sohi’s skillset but elevating performance pressure on management compensation outcomes .