CloudMD Software and Services Inc. (DOCRF)

[StockpickerCAPC]

CloudMD Announces Closing of Oncidium Acquisition and Secures Credit Facilities of up to $62 Million.

source
https://finance.yahoo.com/news/cloudmd-announces-closing-oncidium-acquisition-113000696.html

Mon, June 28, 2021, 1:30 PM

- Oncidium is one of Canada’s leading health management companies with a loyal client base of over 500 corporate and public sector clients across various industries.

- Strategic tuck-in acquisition increases Oncidium’s annualized revenue run rate to $54 million with strong baseline growth of blue-chip customers.

- Award-winning technology platform used for workflow management and health care provider engagement.

- Rounds out holistic employer health approach with additional occupational health and onsite medical management solutions.

- The acquisition is funded by a combination of cash on hand, CloudMD shares, and new credit facilities of up to $62 million.

- CloudMD’s overall annualized revenue run rate will be approximately $140 million, with approximately $55 million of cash on hand.

CloudMD Software & Services Inc., a healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has closed the previously announced acquisition of Oncidium Inc., one of Canada’s leading healthcare providers to employers. Oncidium has built a difficult-to-replicate ecosystem of over 500 clients servicing more than 2 million employees across Canada and more than 2,000 health care providers and medical assessors.

The acquisition of Oncidium enables CloudMD to evolve its ecosystem of healthcare services through occupational health, medical management and assessment services. COVID-19 has accelerated the need for employers to have robust health and safety solutions resulting in increased demand for new approaches in the workplace. The new capabilities will be a key component of the Company’s Enterprise Health Solutions (“EHS”) Division and provide Oncidium’s clients with access to our new connected healthcare platform. This transformative acquisition expands CloudMD’s national footprint to include 5,500 clients and over 5 million individual lives touched.

Since announcing the binding agreement, Oncidium acquired an organization specializing in independent medical evaluations and health-related services to employers and insurers. The strategic tuck-in is complementary to Oncidium and will provide immediate cost saving synergies through consolidation and integration. The business has also developed an award-winning technology platform that offers workflow management that will be used across CloudMD with our provider networks. The highly accretive business generated $17 million in revenue with positive earnings before interest, tax, depreciation and amortization (“EBITDA”) for the 12-month period ending April 2021.

“With over 25 years in the employer healthcare market, Oncidium is an ideal fit with the overall CloudMD strategy for the Enterprise Health Solutions Division,” said Luciano M. Barbuto, CEO of Oncidium, “We are at a pivotal time where employers are dependent on their solution providers to support their workforce’s health and wellness issues, and to assist in providing leadership and guidance with respect to their ongoing, increasing healthcare costs.”

“It is a time of rapid innovation and accelerated adoption of digital healthcare services by employers,” commented Karen Adams, President of CloudMD. “At the core of our offering is that employers can choose to offer their employees a solution that encompasses medical management through health and safety, onsite medical management and navigation with a focus on cost-effective personalized care plans.”

The addition of Oncidium is immediately synergistic to CloudMD with cross-selling opportunities through a combined network of 5,500 loyal corporate clients and over 5 million covered lives. Oncidium is a rapidly growing business in the fastest growing segment of the Canadian healthcare industry, providing a significant competitive advantage compared to industry peers with a comprehensive platform, addressing whole-person healthcare through assessment, triage and support services across mental health, specialist care, healthcare navigation, short-term and long-term support, and educational resources.

The acquisition of Oncidium, which has an annualized revenue run rate of $54 million with an Adjusted EBITDA margin of 10%, is highly accretive to CloudMD. The acquisition also enables revenue and margin expansion for the Enterprise Health Solutions division 1 with an annualized revenue run rate of $70 million with a healthy gross margin of 38% and Adjusted EBITDA margin of 10%. On a consolidated basis, CloudMD has an annualized revenue run rate of approximately $140 million with overall gross margin of 35% and positive Adjusted EBITDA.
1. Enterprise Health Solutions Division plus Re:Function Health Group, a rehabilitation clinic network for enterprise clients, insurers and corporations

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of Oncidium, CloudMD has paid shareholders of Oncidium:
- (i) $30 million in cash, subject to an estimated negative net working capital adjustment of $524,279; and
- (ii) $38 million in common shares of the Company, at a deemed price of $2.30 per common share. In addition to the closing considerations, the Company may pay a performance-based earnout of up to an additional $32 million in common shares of the Company or cash, at the election of the Company, and is based on Oncidium meeting certain performance milestones with respect to Oncidium’s revenue and Adjusted EBITDA following closing. Specifically, the Company will pay an additional $13.5 million to the vendors if Oncidium meets or exceeds the revenue and Adjusted EBITDA targets for the year ending December 31, 2021, an additional $13.5 million if Oncidium meets or exceeds the revenue and Adjusted EBITDA targets for the year ending December 31, 2022, and an additional $5 million if Oncidium meets or exceeds the revenue and Adjusted EBITDA targets for the year ending December 31, 2023. The common shares will be subject to certain contractual restrictions on trading for a period of 30 months from the date of issuance.

Credit Facilities
Concurrent with the closing of the acquisition, CloudMD is pleased to announce that it has secured credit facilities of up to $62 million with Oncidium entering into a senior credit agreement with the Bank of Montreal (“BMO”).
BMO will be providing a committed senior term loan of up to $25 million to fund a portion of the initial cash consideration of the transaction with Oncidium. In addition, BMO has also provided an uncommitted senior term loan structured to fund $24 million of any performance-based earnouts over a 3-year period at the time of payment. Lastly, BMO has also provided a committed revolving facility for working capital purposes and an uncommitted accordion facility for future acquisitions in the amounts of $3 million and $10 million, respectively.

The credit facilities will have a term of 3 years and are secured by a first ranking security interest in all the present and future assets and subsidiaries of Oncidium, including a guarantee from CloudMD.
The credit agreement contains usual representations, warranties and covenants associated with a financing transaction of this nature.

After closing the acquisition of Oncidium, CloudMD will have approximately $55 million in cash, that is available to fund future growth.

Echelon Capital Markets acted as the exclusive financial advisor to CloudMD in the arrangement of their credit facilities and in connection with the acquisition.
KES 7 Capital Inc. acted as the exclusive financial advisor to Oncidium in connection with the transaction with CloudMD.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers a comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America.
For more information visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
Tel: [phone]

[StockpickerCAPC]

CloudMD Closes Acquisition of VisionPros, a Rapidly Growing Digital Eyewear Platform.

source
https://finance.yahoo.com/news/cloudmd-closes-acquisition-visionpros-rapidly-113000857.html

Thu, June 24, 2021, 1:30 PM

VisionPros had revenue surpassing $22 million with Adjusted EBITDA margin exceeding 10% during 2020.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF,), a healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has closed the previously announced acquisition of VisionPros 1, a vertically integrated digital eyewear platform that has serviced almost 1 million unique customers across North America.
1 VisionPros, collectively, is comprised of 0869316 BC Ltd., 1143556 BC Ltd. and 1153046 BC Ltd.

VisionPros conveniently delivers contact lenses and glasses right to their customer’s door, anywhere in North America, and at a fraction of the cost of traditional retail optical stores. The highly scalable business model includes a rapidly growing, e-commerce platform and innovative suite of digital vision care tools. VisionPros also offers a unique subscription offering, with flexible monthly billing options, at some of the lowest prices in North America. The multi-disciplinary platform also includes a brick-and-mortar clinic, online/in-person dispensary and a lens laboratory that manufactures and distributes lenses to eyecare partners for their own affordable KIND eyewear line.

VisionPros’ digital platform shares many synergies with CloudMD’s existing platform and provides significant opportunities for cross-selling and integration. The e-commerce platform gives CloudMD direct access to almost 1 million unique customer accounts and further secures the Company’s footprint across North America. VisionPros’ revenue for the year ended December 31, 2020, surpassed $22 million with adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) margin exceeding 10%.

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of VisionPros, CloudMD has paid shareholders of VisionPros:
- (i) $30 million in cash, subject to an estimated negative net working capital adjustment of $995,353; and
- (ii) $30 million in common shares of the Company at a deemed price of $2.75 per common share. In addition to the closing considerations, the Company may pay a performance-based earnout of up to an additional $40 million in common shares of the Company or cash, at the election of the Company, and is based on VisionPros meeting certain performance milestones with respect to VisionPros’ revenue and technological developments following closing. Specifically, the Company will pay an additional $10 million to the vendors if VisionPros meets or exceeds the revenue target for the six months ending December 31, 2021, and an additional $10 million if VisionPros meets or exceeds the revenue target for the year ending December 31, 2022. In addition, the Company may pay the vendors up to an additional $20 million upon the development of certain new technologies prior to December 31, 2022. The common shares will be subject to certain contractual restrictions on trading for a period of 24 months from the date of issuance. Additionally, the Company will pay a finders' fee to an arm's-length party in accordance with TSX Venture Exchange policies by issuing 986,842 common shares of the Company at a deemed price of $3.04.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America.
For more information, visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

Analyst: Health Care Services/Tech Firm's 'Biggest Transaction Gets Even Bigger'

source
https://www.streetwisereports.com/article/2021/06/23/analyst-health-care-services-tech-firms-biggest-transaction-gets-even-bigger.html

Streetwise Reports (6/23/21)

How the acquisition has grown and its effects on CloudMD Software & Services are addressed in a Research Capital Corp. report.



In a June 16 research note, Research Capital Corp. analyst Yue Ma reported that CloudMD Software & Services Inc.'s (DOC:TSX.V; DOCRF:OTCQB; 6PH:FSE) acquisition target Oncidium has grown with a recent asset purchase.
"We view this development as positive," Ma wrote.

The analyst also noted that CloudMD, "a hybrid play," is trading below the healthcare technology sector and above the healthcare services sector when it should be trading at a premium to both. "We believe the company should trade at a premium to both sectors due to its much diversified and differentiated product offerings (clinics + digital services + enterprise health solutions)," he stated.
"We believe CloudMD is an undervalued growth name and view its current market valuation as attractive," wrote Ma.

The analyst discussed the expansion of the company's Oncidium acquisition, CloudMD's largest to date. Oncidium recently got larger when it bought an organization providing independent medical evaluations and health-related services healthcare providers, life and health insurers, law firms and employers.

This added asset, with a 30% gross margin and positive EBITDA, is forecast to generate about $17 million of revenue per year for CloudMD.
"With this tuck-in addition, CloudMD should have an annualized revenue run rate of $137 million," Ma wrote.

Oncidium's now larger size does not change the overall price CloudMD will pay for the company. That concession remains $30 million in cash and $38 million in shares and a $32 million earn-out. It brings down the deal multiple to 1.3 times price/revenues. The transaction is expected to close by the end of this month.

In other news, Ma noted, CloudMD made some management changes to better support corporate growth. The company promoted Karen Adams to president from chief health innovation officer and moved current president Amit Mathur to the newly created president of U.S. operations position.

Factoring in the Oncidium acquisition and the valuation headwinds Canadian healthcare services and tech companies are facing, Research Capital lowered its target price on Buy rated CloudMD to CA$3.30 per share from CA$3.90. The share price now is about CA$1.72.

[StockpickerCAPC]

CloudMD Appoints Karen Adams as President and Provides Update on Oncidium Acquisition.

source
https://finance.yahoo.com/news/cloudmd-appoints-karen-adams-president-113000578.html

Wed, June 16, 2021, 1:30 PM

- Karen Adams is appointed President of the Company to deliver on growth strategy and operational effectiveness.

- Dr. Amit Mathur is appointed to newly created leadership role, President, US Operations, to focus on expansion into the United States.

- Oncidium acquires an organization specializing in independent medical evaluations and health-related services.

- Strategic tuck-in adds $17 million to Oncidium’s revenue run rate.

CloudMD Software & Services I, a healthcare technology company revolutionizing the delivery of care, and its Board of Directors is pleased to announce the appointment of Karen Adams as President of the Company effective June 21, 2021. In her new role as President of CloudMD, Karen will deliver on the Company’s growth strategy and operational effectiveness, while leveraging technology to enable access to care. Karen will continue to oversee Employee Health Solutions (“EHS”) as a core component of her expanded portfolio.

The Company’s previous President, Dr. Amit Mathur, will now take on the primary responsibility of delivering CloudMD’s expansion into the United States, a key component of the corporate strategy. Dr. Mathur’s appointment to the newly created leadership role of President, US Operations is effective June 21, 2021.

Our Company is rapidly growing and I am very proud of the entire team on its ability to continue executing and delivering on our growth strategy. The increasingly complex landscape of the public and private healthcare sector supports our mission of building one, connected healthcare ecosystem through navigation, coordination and seamless delivery of services that addresses all points of a patient’s care,” explained Dr. Essam Hamza, Chief Executive Officer of CloudMD. “Karen has an impressive track record of developing talent, driving innovation and delivering financial performance both within CloudMD and across multiple health and wellness industry sectors. Dr. Amit Mathur is a valuable member of our senior management team and I am excited for him to have a more focused role of leading our expansion in the US and developing a scalable organization.” He concluded, "I look forward to working with both Karen and Amit in their new roles and the rest of our senior management team as we continue to strengthen our rapid but disciplined growth."

Oncidium Acquisition
Further to the recent announcement of the acquisition of Oncidium Inc., the Company is pleased to announce that Oncidium has acquired an organization specializing in independent medical evaluations and health-related services with 30 years of experience in the provision of these services to life & health providers, insurers, law firms and employers. The business is complementary to the existing assessment services division of Oncidium and will enable cost saving synergies through consolidation and integration. The business has also developed a market leading, workflow management solution that Oncidium and CloudMD will be able to incorporate company-wide. The highly accretive business generated $17 million in revenue with positive earnings before interest, tax, depreciation and amortization (“EBITDA”) for the 12 month period ending April 2021, and as such, the expected revenue for Oncidium, including the newly acquired business, is significantly increased, while the overall purchase price of Oncidium remains unchanged. CloudMD expects to close the acquisition of Oncidium this month.

Restricted Share Unit Grant
The Company has granted of an aggregate of 141,000 restricted share units (each, an “RSU”), with an award date of June 21, 2021, to certain officers and directors of the Company under the Company’s RSU Plan pursuant to the policies of the TSX Venture Exchange. Each RSU represents the right to receive, once vested, one common share in the capital of the Company for every RSU held.
The granting of RSUs are subject to any necessary regulatory approvals and requirements of the Exchange.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI).

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, and over 5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers a comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
[phone]

[StockpickerCAPC]

1 TSX Stock Could Rise 1,000% in 10 Years!

source
https://www.fool.ca/2021/05/30/1-tsx-stock-could-rise-1000-in-10-years/

May 30, 2021

If you’re looking for a TSX stock that’s set to explode, you need to first take a broader approach and look at industries. While one stock is great, what’s really going to practically guarantee growth is an entire industry that’s set to soar. So, I’m going to dig into one of those industries (not e-commerce, electric vehicles, or even cryptocurrency). Then I’ll discuss a stock I would buy today for at chance at 1,000% growth in the next decade.

Back from the brink
Canadians and, indeed, the entire world are finally starting to see signs of a recovery from the pandemic. With vaccinations well underway, many wonder what a post-pandemic world will be like. There are a lot of new industries that have been introduced during the pandemic. Some investors worry that those industries will be all but abandoned in the coming years.
But, at least in one case, that’s simply not true. The healthcare industry received a lot of investment during this time. That’s quite likely to be the case moving forward. It’s very clear now that the world was unprepared for this catastrophe, and that cannot happen again. Investment into healthcare is all but guaranteed.

Beyond this broader theme, I would then zoom in on one aspect of healthcare that saw immense growth, and that’s virtual healthcare. With everyone at home, there needed to be a safe way to see a doctor. Virtual healthcare offered that and more. Patients were seen faster, more often, and were provided a cheaper solution to in-office visits. It is highly unlikely that most places across Canada will simply revert to in-office visits when a doctor shortage has been hurting Canadians for years.

It’s likely that virtual healthcare will start to receive major investment, especially as the industries consolidates. When that happens, a TSX stock you’ll want in your portfolio is CloudMD Software & Services (TSXV:DOC).

The future of healthcare
CloudMD stock may be young, but it’s achieved a lot in a short time. Let’s start with growth. The company came onto the scene back in 2018 with a market capitalization of just $33.2 million. Fast forward just three years, and today the company has increased that market capitalization to a whopping $374.1 million!
A lot of this comes from growth through acquisition. Sure, the company has also taken on debt during that time, but the revenue is already paying off. And it really isn’t all that much. To date, the company has just $7 million in debt, with revenue increasing by a whopping 187% year over year during the latest earnings report.

The company closed five acquisitions during the first quarter, adding $13 million in annual revenue. And between the first quarter and the report, it closed two more and said a further two will close in June. This would bring in an additional $79 million in annual revenue.
Yet the company’s current revenue of $120 million doesn’t even take into consideration expected organic growth or synergies. Plus, it has a strong cash position of $95 million on hand and $35 million remaining after the latest two acquisitions. It therefore is able to receive new debt-financing options, make further acquisitions, and be profitable by the second half of 2021.

What’s the catch?
Part of the reason I believe CloudMD stock will continue to climb by 1,000% in the next decade is simple: it’s cheap. Shares of the TSX stock trade at a measly $1.85 as of writing. So, you could have a small stake in this TSX stock, and a 1,000% growth would increase that to $18.50 per share. That could turn a $5,000 investment into $50,000!

But because the TSX stock is so cheap, even if that share price growth happens — and I believe it will — there is likely to be volatility along the way. Just look at the last year. Shares exploded by 1,180% from its initial public offering in 2018 to October of 2020. Since then, shares have come down with the tech pullback by 42%.

But I believe that leaves a strong opportunity for investors to jump in at a discount. With CloudMD stock trading at 2.9 times book value, this is simply just a TSX stock that will not stay down for long.

[StockpickerCAPC]

Earnings Call Transcript - CloudMD Software & Services Inc. (DOCRF) CEO Essam Hamza on Q1 2021 Results.

source
https://seekingalpha.com/article/4431852-cloudmd-software-services-inc-docrf-ceo-essam-hamza-on-q1-2021-results-earnings-call

May 28, 2021 12:02 AM ET

Company Participants
Julia Becker - Vice President of Investor Relations
Essam Hamza - Chief Executive Officer
Karen Adams - Chief Health Innovation Officer, Global Head of Enterprise Health Solutions
Daniel Lee - Chief Financial Officer

Conference Call Participants
Doug Taylor - Canaccord Genuity
Rob Goff - Echelon
Gabriel Leung - Beacon Securities
Nick Agostino - Laurentian Bank Securities

Operator
Good afternoon and welcome to CloudMD's Q1 earnings conference call and webinar. My name is Jewel and I will be a conference facilitator today. As a reminder, this conference call is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period.Thank you. It is now my pleasure to turn the call over to Julia Becker, VP, Investor Relations for opening remarks.

Julia Becker
Perfect. Thank you Jewel and good afternoon everyone. Thank you so much for joining us today, May 27, 2021 for our first quarter 2021 earnings conference call and webinar. We will start the call with a summary from our Chief Executive Officer, Dr. Essam Hamza, followed by our Chief Health Innovation Officer and Global Head, Enterprise Health Solutions. Karen Adams, who will provide further commentary on our enterprise health solutions division or as we often refer to as our EHS division. Our Chief Financial Officer, Dan Lee will then recap the company's first quarter 2021 financial results before opening up for a question-and-answer period from the analysts.

A friendly reminder to everyone that today's discussion contains forward-looking information which involve inherent risks and uncertainties and other factors that could cause actual results to differ materially from management's current expectation. Forward-looking statements should not be read as assurances of future performance or results. The risks related to the forward-looking information are described in the company's Annual Information Form for the period ended December 31, 2020, which is available on SEDAR under the company's profile and in the company's Management Discussion and Analysis for the year ended December 31, 2020 and the quarter ended March 31, 2021, both of which are also available on our profile on SEDAR.

We encourage listeners to review our disclosure in the context of the forward-looking information we make here today during this earnings call. Investors are also cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this call. The company disclaims any intention or obligation, except to the extent required by law, to update and revise any forward-looking statements as a result of new information, future events or for any other reason.
With that done, it is my pleasure to turn the call over to Dr. Essam Hamza, CEO of CloudMD. Essam, the floor is yours.

Essam Hamza
Thank you Julia and good afternoon and thank you for joining us for our first quarter earnings call and webinar. I am very excited to share the details of our record Q1 2021 operational and financial results. CloudMD has made solid strategic and financial progress in the first three months of 2021, following a transformational year in 2020 where we built a foundation that positions us to be leaders in the delivery of healthcare.

In the middle of a global pandemic, we were not only able to keep our operations running but also built consistent growth across our entire business. Through this transition, our mission and vision have never changed. CloudMD is a healthtech company revolutionizing the delivery of healthcare through a patient-focused, whole-person approach to care. By leveraging technology, we are building a complete and connected healthcare ecosystem that addresses all points of a patient's care including primary care, virtual care, mental health support, access to specialist, health navigation and education. This proprietary platform underpins our organic growth strategy which we continue to see across all lines of our business.

The company was built on three foundational pillars that continue to serve us well.
- First, patient-centric longitudinal healthcare is the future and results in better access to care and improved outcomes.
- Secondly, we are led by a team of medical professionals, doctors and industry experts that understand the pain points of the fractured medical system and share their vision of team-based whole-person care.
- And finally, in order to execute on this vision and build a connected ecosystem, we must own our own technology solutions. Technology is the great equalizer that allows us to provide better access to healthcare and connect to siloed aspects through healthcare navigation.

We are delighted with our Q1 2021 operating and financial performance. We reported record revenue of $8.8 million, 187% increase from Q1 2020 and 51% increase from Q4 2020, largely attributable to strategic M&A and organic growth. In the quarter, we closed five acquisitions, adding $13 million in annual revenue and we established our transformational enterprise health solutions division, which Karen will speak to you shortly. In addition, the operating businesses are collaborating to leverage our assets creating the whole-person healthcare ecosystem. All of our acquisitions are high-growth, accretive and synergistic with cross-selling opportunities to drive further organic growth.

In February, we closed an oversubscribed $58 million bought deal financing, which provides us with strategic capital to deploy on mergers and acquisitions. We are well-funded with almost $100 million in the bank. In addition to being well-funded, we have access to debt financing and are looking at options to fund our future M&A activities while conserving cash and equity.

We view our businesses into three categories and it's important to note these categories are not siloed and they capitalize on each other's capabilities and are synergistic with each other.
We categorize our businesses into
- clinic services and pharmacies,
- digital services
and finally
- enterprise health solutions. We are proud to announce that we achieved growth across all divisions in the first quarter and expect to see continued growth throughout 2021.

Our clinics and pharmacies network consists of 14 hybrid clinics, two pharmacies and approximately 100 practitioners servicing over 500,000 patients. Our hybrid clinics include both in-person and telemedicine visits which capture the full revenue potential from a patient. Over the last year, we have seen a significant increase in telemedicine adoption by our clinic network and we have experienced a 20% increase in patient visits in every quarter since the launch of our CloudMD app in February 2020. Our telemedicine service complements our other businesses including the enterprise health solutions division and we are focused on providing longitudinal whole-person care by integrating this service with our other offerings.

Our healthtech solutions collectively make up our digital services category. In Q1, we announced the acquisition of addition of our VisionPros, adding over $35 million in annual revenue. At the end of the quarter, we closed the acquisition of IDYA4, the technology platform used to connect our ecosystem. Since we announced the acquisition in December 2020, IDYA4 has recognized over $1.5 million in contract wins and we expect significant organic growth throughout the year.

The enterprise health solutions division was launched in Q4 2020 and along with Re:Function and assessments in rehabilitation clinic network, it will represent approximately 44% of the company's $120 million annualized revenue run rate. We launched this division with a focus on client needs of cost optimization, targeted clinical solutions that were outcome-based supporting access to care for individuals with health and well-being concerns.
I will now pass it over Karen Adams to give an update on the enterprise health solutions division.

Karen Adams
Thank you Essam. This division was founded on targeted acquisition that had reoccurring revenue and all with strong client bases. Our differentiator is that we created a market-leading position through integrating our clinically, evidence-based capabilities and nurse-care navigator platform for the seamless delivery of mental and physical health to individuals. This access and quality of care creates a better user experience and optimized cost for employers while delivering health outcomes. We continue to make progress on executing our strategic plan while making delivered investment in enhancing our capability.

I am extremely proud of the team's effort in growing our core business capability within enterprise health solutions, EHS and the adoption of our integrated offerings launched in Q1. Our Q1 results fully reflect the effect of last year's acquisition of iMD, Re:Function and Snapclarity. Subsequently, in Q1 we completed the following acquisitions, HumanaCare, a national employee and family assistance program or commonly referred to as EFAP, a mental health solution provider based in Ontario. This acquisition expands our ability to service the employer mental health market need expanding breadth and depth of services to address mental health. HumanaCare has forged solid long-term client relationships and served through client and third-party brokers using innovative solutions.

And Medical Confidence, a national Canadian leader in healthcare navigation. Medical Confidence has built a strong reputation for innovative solutions in managing health issues of those on disability through outcome-driven care pathways and solid long-term relationships with clients. This acquisition enables us to leverage healthcare navigation as foundational to our ecosystem, providing a strong value proposition to ensure brokers and organization to optimize health outcome and cost. These company's financial results are only partially reflected in our Q1 results.

We have seen a strong adoption of our strategy to organic growth, which was slightly above 10%, resulting from a new distribution partnership and a strong sales pipeline. Including assessment and rehabilitation clinic network, EHS revenue was $3.1 million in Q1. This was driven by innovation, technology-enabled products and reoccurring revenue. In Q1, we launched a change management office to execute our integration initiative to better focus on user experience and manage priorities. This has resulted in increased revenue as well as gross margin and EBITDA expansion through several initiatives, including consolidation of our back-office platforms for iMD which is our educational resources, Snapclarity, our mental health online assessment tool and HumanaCare to strengthen the company's position as a leader in mental health support solution.

We initiated our first phase of integration with shared services for recently acquired companies. Additionally, we executed on cost synergies near the end of the quarter and will realize $500,000 in annual cost savings going forward. Second, expansion enhancement of our client acquisition and servicing team. And third, the introduction of a VP of Product Management to identify workflow solutions that improves the user experience.

I will now touch on some of the business highlight of Q1 as we focus on creating a leading health navigation service in the markets we serve. A key part of our growth strategy is our integrated health navigation platform. In Q1, we focused on implementation of our health navigation platform with a premier 11,000 life group. We have a strong pipeline for the integrated offering and have completed numerous proposals for clients interested in this specific platform to connect well-being for mental and physical health while optimizing their group benefits plan.

In addition, we are in contact with three insurers for our healthcare disability navigation, product that will be leveraging the platform as they reduce disability days and focus on return to work. These contracts will be implemented in the coming quarters.

In our mental health support, which includes EFAP, we added many new contracts to our platform and made our evidence-based mental health assessment tool through Snapclarity available to EFAP customers with an adoption rate of 45% in Q1. We continued to see momentum in new lives added to broker relationships who market our services to their client base. We have several proposals for distribution partnership. We launched the first mental health coaching program with assessment, triage and navigation, as well as a virtual trauma support program. Finally, in our assessment and rehabilitation capability, we earned new contracts with government agencies and have expand to new capabilities in psychological assessments for prevention and early intervention.

We also implemented a new approach to assessments for psychological impairment with a major insurer in providing assessment and treatment for claimants. We are focused on growth but we have identified further cost saving synergies as we continue to integrate capabilities across all of CloudMD, creating margin and EBITDA expansion while providing access to quality clinical care. Client satisfaction rates are trending above our internal targets, solidifying our confidence in continued growth of our strategy in the coming months. We launched our services in the United States and are recipients of a new distribution partnership with a national group benefits provider who will be implemented in the coming quarters.

Our four pillars of performance focus on,
- number one,
continued growth of solid reoccurring revenue in the core businesses.
- Number two,
actively manage integration of the entity that are critical to our product offering and EBITDA growth.
- Number three,
continued development of our technology utilizing the recently acquired health and wellness platform of IDYA4 to enable health navigation in connection of acquired company's associated capabilities. And
- number four,
U.S. expansion through leveraging our health and wellness platform and health capabilities.

Our clients have worked with us to create a market-leading solution that transforms the way health benefits are delivered to employees, resulting in reduced disability days, improved access to care and medical-based navigator through our able to respond and adjust treatment. We continue to focus on access and quality of care through the development of our ecosystem platform connecting both mental and physical health programs, providing one seamless delivery for mental, physical and specialist support.
I will now turn it over to Daniel Lee, our CFO, for the financial update.

Daniel Lee
Thank you Karen. As Essam and Karen touched on, it was a very good quarter for the business. We are very excited by our Q1 2021 results and the framework we have built for scale and growth. I will now walk through our fiscal 2021 first quarter results.

For the quarter, total revenue was $8.8 million, compared to $5.8 million in Q4 2020 and $3.1 million in Q1 2020. The increase is primarily attributable to acquisition growth with five acquisitions completed in the quarter and 11 acquisitions completed in the last 12 months. Excluding the impact of Q1 business acquisitions, the company achieved organic growth from its existing businesses. While the majority of the company's historical revenues were derived from clinic services and pharmacies, we expect enterprise health solutions and digital services to comprise of over 80% of total revenues starting in Q3 due to the company's recently completed and announced acquisitions.

For the quarter, gross margin was 41% in Q1 2021, compared to 40% in Q4 2020 and 37% in Q1 2020. The increase was primarily attributable to revenue mix where higher margin revenues from enterprise health solutions and digital services made up a stronger percentage of overall revenues. Given the completed and announced acquisitions, the company does expect its future gross margin to settle in the 35% range. While both Rxi and VisionPros are profitable, they do operate in high-volume, lower margin businesses which affect our overall gross margin.

For the quarter, adjusted EBITDA was a loss of $1.5 million in Q1 2021, compared to a loss of $1.5 million in Q4 2020 and a loss of $800,000 in Q1 2020. The company expects to improve its adjusted EBITDA performance in the coming quarters, which includes the profitable businesses we acquired in the last 12 months and the cost synergies we have started to realize near the end of Q1.

Turning now to the balance sheet. Cash and cash equivalents were $99 million at March 31, 2021, compared to $60 million at December 31, 2020. In Q1 2021, the company raised gross proceeds of $58 million in a bought deal financing in March 2021 and the company paid $13 million for five acquisitions, net of cash acquired in the quarter. Currently, the company has a cash and cash equivalent position of approximately $95 million and we anticipate the acquisitions of VisionPros and Oncidium to close some time in June 2021.

Lastly, given our Q1 2021 financial performance, we reiterate that CloudMD's annualized revenue run rate exceeds $120 million. We calculate our annualized revenue run rate based on a combination of, one, the last 12 month of revenues from our existing businesses and two, 2020 annualized revenue run rate for acquisitions completed since October 2020 and acquisitions announced but not yet closed, including VisionPros and Oncidium. CloudMD's annualized revenue run rate is intended to serve as a baseline for the business. This baseline does not include the organic growth that we are currently witnessing within the enterprise health solutions division or post-acquisition cross sell synergies we are seeing in our other businesses, discerned as an upside to our numbers. We are well-positioned for growth and this is why we are very excited about the future of CloudMD.
With that said, I would like to turn the call back to Essam for closing remarks of a very successful quarter.

Essam Hamza
Thank you Daniel. Everyone at CloudMD is proud of the work we are doing to transform the delivery of healthcare and the momentum we are seeing in the market. I would personally like to take a moment to thank our incredible team at CloudMD for their hard work and dedication to our vision. The company is well-funded to execute on its strategy with a strong financial position and access to capital. Our mission is to provide better access and improved healthcare outcomes to patients globally and we are very excited about the growth of CloudMD in the coming quarters and years. I thank our shareholders and analysts for their continued support.
And with that, I will ask the operator to open up for calls.

Question-and-Answer Session

Operator
And our first question comes from Doug Taylor with Canaccord Genuity. Your line is now open.

Doug Taylor
Yes. Thank you. Good evening. In the past, you provided a couple data points that helped us think about the organic growth post-acquisition of some of the elements mostly within the EHS segment. I know, Karen, you walked through a number of areas of success. But I wonder if you could provide us with or offer up any sort of quantitative numbers that help us think about the organic growth that you are seeing now to layer on top of that baseline $120 million revenue that you speak to?

Karen Adams
Dan, do you want me to take that?

Daniel Lee
Why don't I answer that first and Karen, feel free to add more comments to that. So Doug, so we did announce back in March about $5 million of new contract wins within enterprise. And so within Q1, we did realize about $250,000 of revenues coming from those contracts. And in Karen's prepared remarks, she did mention that we did experience a 10% organic growth within enterprise. And basically how the number is derived is taking our 2020 EHS revenue run rate. So when we had acquired those companies, we had a baseline and so the organic growth coming from these contract wins were adding about, call it about, $1.5 million of revenues to our 2021 numbers. So kind of just to answer your question, we have $120 million revenue run rate. And that increases by about $1.5 million specifically for 2021.

Doug Taylor
Okay. That's helpful in helping us think about that. You mentioned the cost synergies that you have achieved since, I believe, last time you talked to about $0.5 million. Can you just talk to what you have recognized out of that? And whether $0.5 million is still the number that you confirmed that that's the number that you are still seeing? Or have you uncovered anymore in addition to that?

Daniel Lee
Yes. So I will start, just in terms of talking about Q1, Doug. And Karen can certainly provide more color. So in terms of Q1, we did execute those synergies near the end of the quarter. And so there hasn't been a lot of savings baked into our Q1 numbers. But we will see $0.5 million annualized run rate in our model going forward, starting in Q2.

Karen Adams
Yes. The only other piece I would add is, we continue to look for the synergies through the change management office and identifying as new acquisitions come onboard. Shared services and integration of capability is a focus for us around the future identification of synergies going forward. So it's an active focus and now part of our onboarding of acquisitions.

Doug Taylor
Right. We will obviously look for once those remaining acquisitions close. I believe the guidance you provided here was for positive EBITDA now in the second half of the year. And I just want to understand, should I be reading anything into that versus the prior Q3? Is there a distinction there? Or am I just overthinking that?

Daniel Lee
Yes. So in terms of EBITDA, we are expected to be EBITDA positive. We are getting closer to EBITDA positive, Doug. But with Oncidium and VisionPros being completed sometime in the next month or so, we do expect for us to be EBITDA positive on the backend. In addition to the acquisitions, we will be realizing the cost synergies that we have already executed but also we are identifying more savings down the road. So that will certainly help us on the backend.
I don't know if that answers your question or not.

Doug Taylor
I just want to confirm that there is really no change in your timetable or expectation there? It was just a change in the language that I am reading too much into? Is that fair?

Daniel Lee
Yes. So there is no change in our --

Doug Taylor
Well, I just wanted to clarify. I have had questions about it already. Last question for me and I guess this one to both Essam and Karen. I think in the last time you reported and since you have signaled a period where you are looking to digest all these targeted acquisitions that you have executed the last year. Would you say that's still the stance right now while you are awaiting the close of the remaining couple of acquisitions? Or are you still open to additional activity here in the near term?

Essam Hamza
Maybe I will start there, Karen. We are always open and do have a strong pipeline still of potential acquisitions that follow kind of the mandates that we talked about earlier when I mentioned kind of that are profitable growth companies that are synergistic with what we do. The difference now that I would say, Doug, that honestly is that we built the foundation already and we are able to now go and find really good value that can tuck into that infrastructure we have already built. And so I think there is going to be even greater opportunity to find additional add-in to what we do already. We don't need to find the big puzzle pieces because we have already created those acquisitions already and put them together. So we are going to be adding other M&A opportunities over the next few quarters.

Doug Taylor
Okay. Thank you for clarifying. And I will pass the line.

Operator
Thank you. Our next question will come from Rob Goff with Echelon. Please go ahead.

Rob Goff
Good afternoon and thank you for taking my question. I am going to ask two questions, if I may. The first one would be on VisionPros. If you could perhaps give us an update on what you are seeing there in terms of momentum on the subscription front? Anything around its new vision test? The other question was on the EHS side where Karen mentioned launching into the U.S. and adding distribution capabilities. If you could perhaps elaborate on that, it would be appreciated?

Essam Hamza
Thanks Rob. With regards to VisionPros, we are working on closing it right now. And so over the next month here, as Dan referred to, we should have that closed and announced to the market. At that time, I think we will update the market on what we are seeing in our expectations with VisionPros. Until then, we are probably not going to give any guidance on what we are seeing before we close it, if that's okay, Rob.

Rob Goff
Good. Understand.

Essam Hamza
Yes. And I will have Karen maybe expand on our U.S. expansion here.

Karen Adams
Yes. So we have put somebody in place who is in charge of our growth strategy for the U.S. for our enterprise health division, specifically around the mental health. And they are actively, they have a sales person reporting to them and they are completing proposals and have been successful in securing a distribution partnership with a benefits broker in the U.S. And we will be looking to roll that out over the next couple of quarters with that specific distribution partner.

Rob Goff
And perhaps, in terms of your distribution partner, would you be targeting large enterprise, mid enterprise or any sort of target profiles you could provide?

Karen Adams
Yes. I think with this specific distribution partner, I would say we are looking in the mid-market which is still large in the U.S., as you know. So we are looking at the mid-market right now and using the mental health assessment and the navigation platform becomes relatively easy for us to deliver across the U.S. So we are very excited about earning this opportunity with this broker.

Rob Goff
Very good. Thank you.

Karen Adams
Thank you.

Operator
Thank you. Our next question comes from Gabriel Leung with Beacon Securities. Your line is now open.

Gabriel Leung
Good afternoon and thanks for taking my questions. A couple things. First, just curious if you guys are able to provide an update on, I guess, the large corporate client that was onboarded on the enterprise side, I guess, a couple of months ago? Whether you have an update on how things are progressing there?

Karen Adams
So we launched that client and things to the client satisfaction is very high. It's very early to tell the outcome because we are in the client launched at the beginning, the end of April, beginning in May. So we are still in the early days. So most of the first quarter was in the implementation of that large client.

Gabriel Leung
Got you. So what are some of the metrics that you or your client will be gauging, will be reviewing to gauge whether the pilot is a success or not?

Karen Adams
That's a great question. So the first thing is access. So the number of people who access the program is our first metric. So they have a population base who are looking for access. So far, it is the most successful program they have launched. Note, those are their words. So we will be looking at access. We will also be looking at the people who utilize the resources. So we do have a number of online resources, both through iMD which is our educational resource company and through Snapclarity. So we will be gauging those. And then the third is people who are in need of treatment and the success ratio around the treatment. But those will be longer term metrics, just by the nature of the number of sessions required for people to actually get help through mental health. So the short term metrics that we are really focused on is, access, satisfaction with the resources and then access to care, if that makes sense.

Gabriel Leung
Got you. And then just staying on enterprise for a minute here. As I think about growth going forward, I think about pipeline of new potential customers. I also think about increasing utilization by members themselves. So I am curious if you can talk a little bit about both. What you are seeing in terms of pipeline opportunities, number one? Number two is, I guess on the EAP side, with HumanaCare, it's obviously early, but whether you have seen any evidence of increased utilization by members via some of the additional services that you can now offer?

Karen Adams
Yes. So it's early days. I always have to remind myself that it's early days. We did see, in the first quarter, an increase of 17% utilization of EFAP services. What I think you will see in the coming month, one the metrics that we are starting to measure is the number of customers utilize more than one services. As I mentioned in my remarks, we have through the integration team, structured a cross-sell team. So the sales people have all been trained on the product and are now in the process of taking to their clients the combined product offering. And so that is that is we are measuring and selling through our pipeline at this point.

And I guess, the other thing I should say, I guess the other thing just that I should mention that's important to bring you, it just occurred to me as you said it. the EFAP really has, in the first quarter, I think when you look at the number of new lives that they added to the platform and the utilization, they have done an incredibly good job in the first quarter. So we are up over Q4 as far as utilization. And most of that is attributed to the distribution partnership that they were able to secure in Q4 that launched in January of Q1. So that really is where we saw the uptick on the number of lives added to the platform, which was just over 6,000 lives.

Gabriel Leung
Got you. And actually just on that front, going forward, as Oncidium is brought into the mix and as the EAP practice gets bigger, to help us model, I guess, would you think that CloudMD will be in a position to provide metrics around members and so the PMPM and things like that? So you think that will be coming down the road?

Karen Adams
Yes. So we will just have to look at that because the Oncidium business is on a price per employee per month model. So the Oncidium model is more of a case price. They do medical management, case management, which is a case price. And then, of course, the EFAP is a price per employee per month. So I think it would be fair to assume tat we will be in a position to talk about cross-selling our ability to take EFAP product and market it to the Oncidium clients to create that market-leading product. We believe we have a market leading product that those customers are going to want. And so we will be in a position to talk about that at that point as those quarters rollout.

Gabriel Leung
Got you. That was helpful. And maybe one last question.

Karen Adams
Sure.

Gabriel Leung
Just as I think about growth going forward, is there sort of a target bookings number that management is aiming towards achieving whether in calendar 2021 or calendar 2022, now that you are very close to getting everything onboarded? Is there a number that you guys thought about or sort of targeting at this point?

Karen Adams
Daniel, did you want to take that?

Daniel Lee
Sure. So Gabe, we do internal meetings about this. We are not, I guess, at this time just ready to share that information. But we do analyze our business and review not only just our financials but also all key APIs, internal targets, et cetera. But we will certainly take it under advisement in terms of just additional information to share with you on what's going forward.

Gabriel Leung
Got you. I appreciate the feedback. Thank you.

Operator
Thank you. Our next question comes from Nick Agostino with Laurentian Bank Securities. Your line is now open.

Nick Agostino
Hi. Yes. Good afternoon. I guess my first question, I just want to make sure I heard clearly and then ask the question on the back of that is, Essam, did you say, you are seeing 20% increase in patient visits every quarter, I guess, since you launched the virtual care program? And if the number being the case, can you maybe provide some clarity around what the split is between virtual, the use your telehealth program versus in-person into your clinics? And then adding to that same question, how much repeat business are you guys seeing on the whole virtual care side of it?

Essam Hamza
Yes. Thanks Nick. So you are right. The number I think I did quote was 20%, I believe, quarter-over-quarter. That is with regards to the CloudMD app. So let me step back for a second and kind of describe what we have and what we have built. So we have the clinics, our clinics that are brick-and-mortar that we have converted into that hybrid clinic and when COVID hit, a lot of clinics around the country and around the world had to shutdown and unless you had a way to reach out to the patients, a lot of them lost revenue. We didn't.

We were able to close the physical door and open up our virtual doors immediately and those doctors in our network that are seeing patients for our company were continue to see them through our virtual platform that's seamless basically. So the same platform they use to see a patient in-person is the same platform that they can use to see the patient virtually, the same chart and everything else. So our own doctors within our network were able to turn on virtual care for the most part 100% of their visits in early on and still a great majority right now are virtual basically for those doctors seeing their own patients.

On top of that, we launched our CloudMD app in BC and Ontario. And that CloudMD app was for patients that didn't have a doctor or didn't have an access to doctor, it was amazing when we first launched it. Obviously with COVID, it allowed a lot of patience to see a doctor when they had no other options. And they were in distress and so on. So they are very grateful and we had great success with it. But on top of it, we have seen 20% quarter-over-quarter growth in that and those are repeat customers as well. So they are coming in.

They are seeing our doctors. It's not just, we don't only have family doctors that are seeing these patients. We have nurses. We have mental health professionals and so on that can help, we can send them for bloodwork. We can send them for referrals. We follow-up with them. We can address their concerns. We reach out to them and their families and so on. So we provide full care for them, not just episodic care. So that's the growth in the number of visits through the app is what we were referring to there and it continues to grow going forward.

Why I bring this up though is that we have created this full platform and this ecosystem that is going to continue even post-COVID because it is providing the full ecosystem of care to those patients. It's full care for all their needs basically. And it also has the ability to cross into and support our enterprise health division as well. So that's the reason that we build it the way we built it. It's sustainable. It's profitable. And it's growing not only as a standalone but as integrated with our EHS and our other divisions as well. So that's what we were referring to, if that helps.

Nick Agostino
Yes. Okay. Great. Thank you. And my second question is, I believe you have closed five acquisitions in the quarter itself, if I recall reading correctly. My question is, now that you had these companies as part of the CloudMD umbrella, you are able to look under the hood, any surprises upwards or downwards and specifically on revenue? In other words, is the revenue you are generating off of each and every one of those acquisitions that you closed in line with what your expectations that you provided?

Essam Hamza
Yes. Nick, I will start with that and I can hand it over to Karen or Dan. But yes, the reason we bought, remember these are companies we strategically went out and pursued. They were not for sale. They joined us because they share the same kind of vision in where healthcare is going. And the great thing about it is, they are already growth companies. They are already profitable. And we are able to add fuel to what they are offering immediately and have the ability to provide our network of patients and providers to what they already had. So the cross-selling has helped every one of our companies that we bought on so far. We did make reference to it in an earlier press release in the quarter, if you remember, mentioning the fact that as of the first two, three months of that quarter in the enterprise health division that they were able to recognize $5 million of new contracts just early on, just from since we closed it to the them that we released that press release.

So maybe Karen, you can refer a little bit to that. But before you do, we also mentioned IDYA4 in the same realm as well, saying that they were awarded another $1.5 million at the time that we announced that close.

Karen Adams
Yes. So I would just say a couple of things, Nick, to add to that. So yes, we are seeing organic growth that is, I would say, in line with our expectations because as Essam mentioned these were targeted strategic. They were known to us. I understand their capabilities very, very well. And to putting them together in a way that with a strong client base made sense. The second piece and I have to remind myself that these acquisitions being Q1, being January, we have done some incredible work around the synergies. And these synergies, I think, are coming together naturally because of the understanding of the people who work within these acquisitions, the importance of putting these products together. So they are motivated to be part of a synergistic exercise as opposed to when you do acquisition sometimes the synergistic opportunities have to be forced and you are looking for rationale for people. So people are gravitating quite easily. So when we look to the acquisitions from Q4 and we look at the ones we are doing now, including IDYA4, the traction to come together is very easy.

And the other piece, I think is important to acknowledge is we are leveraging capabilities outside of EHS, meaning we have had Snapclarity integrated into the virtual care product. We are using the digital services and we will be using the acquisitions we have talked about going forward that might be outside of the EHS as capabilities that will be connected in the ecosystem.-And I am pretty proud of the team that we have been able to not only get the $1.5 million in inorganic growth, but also the synergies that we have been able to recognize and the team working forward and the clients are coming to us and asking for proposals for these integrated offering, which is accelerating the need for the synergies. So where I sit, I am very pleased and I would say we are right where we expected to be with the traction. I would say, probably maybe even a little ahead of time as far as the activity base goes getting us to move forward with the synergies. So I am very pleased.

Nick Agostino
Okay. Thank you. That was all.

Operator
As there are no further questions, this concludes today's conference call. Thank you for participating. You may now disconnect.

[StockpickerCAPC]

CloudMD Reports Record Revenue of $8.8 Million in First Quarter 2021.

source
https://finance.yahoo.com/news/cloudmd-reports-record-revenue-8-200900295.html

Thu, May 27, 2021, 10:09 PM

- Q1 2021 revenue of $8.8 million; an increase of 187% compared to Q1 2020 and 51% compared to Q4 2020.
- Q1 2021 gross margin1 of 41% attributable to strong revenue mix.
- Closed 5 acquisitions in Q1 2021, providing the foundation for scale and growth across North America and Europe.
- Closed Aspiria and Rxi subsequent to Q1 2021 and anticipated to close VisionPros and Oncidium in June 2021. These acquisitions are expected to add an additional $79 million in annual run rate revenue.
- Strong 2021 financial expectations with annualized revenue run rate exceeding $120 million and positive Adjusted EBITDA1 in the second half of 2021.
1 Gross margin and Adjusted EBITDA are non-GAAP measures as described in the Non-GAAP Financial Measures section of this News Release.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, announced its financial results for the first quarter ended March 31, 2021. All financial information is presented in Canadian dollars unless otherwise indicated.

Dr. Essam Hamza, CEO of CloudMD commented, “We are excited to share our record Q1 2021 financial results that continue to improve quarter over quarter. Q1 was a transformative period for CloudMD, as we closed 5 acquisitions, adding $13 million in annualized revenue and establishing the foundation for our Enterprise Health Solutions division. I am very proud of the strategic roadmap we have built and the team’s ability to execute on our growth strategy. We identified key acquisition targets that were synergistic to our overall vision and we remain focused on building a complete healthcare ecosystem, providing connected, holistic care. We continue to integrate all of our capabilities into one comprehensive platform, which is the foundation for scale and expansion. Within our Enterprise Health Solutions division, we have already seen significant early adoption and through cross-selling opportunities, attained over $5 million in new multi-year contracts in the first quarter. Equally exciting is that CloudMD already has a revenue run rate of over $120 million, and through highly profitable acquisitions coupled with organic growth and realization of cost synergies, we expect to be profitable in the second half of 2021.”

First Quarter 2021 Financial Highlights
- Q1 2021 revenue was $8.8 million, compared to $5.8 million in Q4 2020 and $3.1 million in Q1 2020. The increase is primarily attributable to acquisition growth with 5 acquisitions completed in the quarter, and 11 acquisitions completed in the last twelve months. Excluding the impact of Q1 business acquisitions, the Company achieved organic growth from its existing businesses.

- Q1 2021 gross margin was 41%, compared to 40% in Q4 2020 and 37% in Q1 2020. The increase is primarily attributable to revenue mix where higher margin revenues from Enterprise Health Solutions (“EHS”) and Digital Services made up a stronger percentage of overall revenues.

- Net comprehensive loss attributable to equity holders of the Company in Q1 2021 was $5.3 million or $0.03 per share, compared to $5.2 million or $0.04 per share in Q4 2020 and $1.6 million or $0.02 per share in Q1 2020. In the quarter, the Company completed numerous strategic initiatives, including the completion of 5 acquisitions in the quarter and raising $58.2 million in gross proceeds from a bought deal short form prospectus offering, which the Company expects will contribute to strong future growth of the Company.

- Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) was a loss of $1.5 million in Q1 2021, compared to a loss of $1.5 million in Q4 2020 and a loss of $0.8 million in Q1 2020. The Adjusted EBITDA calculation adjusts for share-based compensation, costs related to financing, acquisitions, integration, litigation including associated loss provisions, and change in fair value of contingent consideration. Adjusted EBITDA is used by management to evaluate the Company’s cash operating performance, and a complete definition and calculation are provided further below.

- Cash and cash equivalents were $99.2 million as at March 31, 2021, compared to $59.7 million at December 31, 2020. In Q1 2021, the Company raised gross proceeds of $58.2 million in a bought deal short form prospectus offering in March 2021 and the Company’s current cash balance is approximately $95 million.

First Quarter & Subsequent Highlights
- During January 2021, the Company closed the previously announced acquisitions of HumanaCare, Medical Confidence and Canadian Medical Directory, strengthening the Company’s EHS division by adding a leading Employee Assistance Program and healthcare navigation platform.

- On February 8, 2021 the Company closed the acquisition of 51% of West Mississauga Medical Clinic, expanding the Company’s hybrid clinic footprint in Ontario.

- On February 16, 2021, the Company announced that it signed a binding term sheet to acquire VisionPros, a rapidly growing digital eyecare platform with a robust suite of digital vision care tools.

- In March 2021, the Company closed the short form prospectus offering, on a bought deal basis, including the full over-allotment option for total gross proceeds of $58.2 million.

- On March 18, 2021, the Company provided an update on the rapid growth of its Enterprise Health Solutions division, realizing over $5 million in new multi-year contracts since the beginning of 2021.

- On March 23, 2021, the Company announced that it closed the acquisition of IDYA4, the technology platform used to integrate all of our healthcare solutions, providing a fully automated, seamless patient experience.

- On April 6, 2021, the Company announced that it closed the acquisition of Aspiria, adding another leading Employee and Student-focused assistance program to the Company’s EHS division.

- On April 8, 2021, the Company announced that it entered into a binding term sheet to acquire Oncidium, creating one of the largest providers to the employer market in Canada.

- On May 12, 2021, the Company announced that it closed the acquisition of Rxi, a proprietary specialty drug management and patient support platform.

Outlook
The Company is focused on revolutionizing the healthcare industry by leveraging technology to digitalize its delivery in providing more efficient access to care and achieving better health outcomes. CloudMD is integrating its health technology solutions to build one, connected healthcare ecosystem that addresses all points of a patient’s care from one platform. The Company remains on track to launch a fully automated, connected solution later in 2021. This connected platform is the foundation for scale and growth and the Company will continue expanding its footprint across North America and strategically in Europe.

CloudMD’s current revenue run rate is over $120 million which does not take into consideration any expected organic growth or cross-selling synergies. CloudMD expects to see continued organic growth across all divisions of its business largely due to the integration of its health technology solutions and cross-selling synergies in the EHS division.

The Company has a strong cash position with approximately $95 million on hand, and approximately $35 million remaining after the closing of the acquisitions of VisionPros and Oncidium, which both are expected to close in June 2021. With a strong balance sheet, CloudMD is able to seek debt financing options to conserve cash and equity. The Company is on track to be profitable and expects to be Adjusted EBITDA-positive in the second half of 2021.

CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through accretive, synergistic acquisitions, achieving organic growth across all divisions, and the full integration of its healthcare solutions to provide one, connected platform that addresses all points of care for patients.

Selected Financial Information
All results were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.
To see the table please look at:
https://finance.yahoo.com/news/cloudmd-reports-record-revenue-8-200900295.html

First Quarter Earnings Conference Call
CloudMD invites all interested parties to join the conference call or webinar:
CloudMD Q1 2021 Earnings Call
Date: Today, May 27, 2021
Time: 2:00 pm PT / 5:00 pm ET
Toll-Free Dial-In Number: [phone]
International Dial-In Number: [phone]
Conference ID: 7655837
Webcast Link:
https://edge.media-server.com/mmc/p/ozdza9aq

Financial Statements and Management’s Discussion and Analysis
This news release should be read in conjunction with the Company’s condensed interim consolidated financial statements and related notes, and management’s discussion and analysis for the three months ended March 31, 2021 and 2020, copies of which can be found at
https://www.sedar.com/

Non-GAAP Financial Measures
In addition to the results reported in accordance with IFRS, the Company uses various non-GAAP financial measures, which are not recognized under IFRS, as supplemental indicators of the Company’s operating performance and financial position. These non-GAAP financial measures are provided to enhance the user’s understanding of the Company’s historical and current financial performance and its prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of the Company’s core operating results and ongoing operations and provide a more consistent basis for comparison between quarters and years. Details of such non-GAAP financial measures and how they are derived are provided below as well as in conjunction with the discussion of the financial information reported.
Since non-GAAP financial measures do not have any standardized meanings prescribed by IFRS, other companies may calculate these non-IFRS measures differently and our non-GAAP financial measures may not be comparable to similar titled measures of other companies. Accordingly, investors are cautioned not to place undue reliance on them and are also urged to read all IFRS accounting disclosures presented in the audited consolidated financial statements and the accompanying notes for the years ended December 31, 2020 and 2019.

EBITDA
EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. EBITDA referenced herein relates to earnings before interest, taxes, depreciation and amortization. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the cash operating income (loss) of the business. Please refer to section on EBITDA for reconciliation.

Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Adjusted EBITDA referenced herein relates to earnings before interest; taxes; depreciation; amortization; share-based compensation; financing-related costs; acquisition-related and integration costs, net; litigation costs and loss provision; change in fair value of contingent consideration; and loss from discontinued operations. This measure does not have a comparable IFRS measure and is used by the Company to evaluate its cash operating income (loss) of the business, adjusted for factors that are unusual in nature or factors that are not indicative of the operating performance of the Company. Please refer to section on Adjusted EBITDA for reconciliation.

Gross Profit
Gross Profit is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Profit referenced herein relates to revenues less cost sales. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.

Gross Margin
Gross Margin is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Margin referenced herein is defined as gross profit as a percent of total revenue. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America.
For more information visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
[phone]

[StockpickerCAPC]

CloudMD to Report First Quarter 2021 Financial Results on May 27, 2021.

source
https://finance.yahoo.com/news/cloudmd-report-first-quarter-2021-073000674.html

Thu, May 20, 2021, 9:30 AM

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, announces that it will release its first quarter 2021 financial results on Thursday, May 27, 2021 after market close. Related earnings release materials can be found in the Investors section on the Company’s website.

Management will be hosting an earnings conference call and webinar on the same day (Thursday, May 27, 2021) at 2:00 pm Pacific Time / 5:00 pm Eastern Time to review and discuss the quarterly operational highlights and financial results, followed by a question and answer session.

CloudMD invites all interested parties to join the conference call or webinar:
Date: Thursday, May 27, 2021
Time: 2:00 pm PT / 5:00 pm ET
Toll-Free Dial-In Number: [phone]
International Dial-In Number: [phone]
Webcast Link:
https://edge.media-server.com/mmc/p/ozdza9aq

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI).

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers a comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
[phone]

[GorillaDaddy]

Really hoping we get bought or go super big with this

[StockpickerCAPC]

CloudMD Closes Acquisition of Rxi, Providing an Established Specialty Drug Management and Patient Support Program to the Employer Market.

source
https://finance.yahoo.com/news/cloudmd-closes-acquisition-rxi-providing-113000696.html

Wed, May 12, 2021, 1:30 PM

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, is excited to announce that it has closed the previously announced acquisition of Rx Infinity Inc., Rxi Pharmacy Inc., and Rxi Health Solutions Inc., enhancing its specialty health services to patients, providers, insurers, and corporations in Canada.

Rxi’s pharmaceutical logistic services include drug distribution, patient navigation assistance, a preferred pharmacy network of over 500 pharmacies and real-time universal disease management software. As a proven solution to the currently siloed healthcare system, Rxi’s combined offerings provide a one-stop solution and centralized platform that breaks down treatment barriers by offering a team-based, real time, longitudinal approach to patient care and disease management. Rxi oversees several national and provincial patient support programs currently specializing in Oncology, Infectious Diseases and Inflammatory Bowel Disease (IBD). Rxi will be expanding its offering, launching a number of additional support programs in the imminent future. The company also provides administrative and drug benefit management services to a large third-party benefits provider, servicing more than 300,000 patients across Canada. Rxi is licensed as a National Wholesaler (GMP-certified) and is approved by Health Canada.

The acquisition of Rxi is synergistic across CloudMD’s platform of healthcare technology solutions and its Enterprise Health Solutions (“EHS”) division. The addition of Rxi expands CloudMD’s pharmacy offering, and distribution and fulfillment channels across Canada. CloudMD has access to Rxi’s network of 500 independent pharmacies to provide better, more localized, access to care. Rxi will be integrated with CloudMD’s electronic medical records (EMR) software, educational resources, healthcare navigation, patient portal and enterprise health services.

CloudMD can now offer employers access to Rxi’s specialty drug and case management platform to better manage the chronic care of employees. These speciality drugs are often very costly and can result in high exposure to employers if not managed correctly. Currently, 50% of new drugs developed are speciality drugs
https://www.claimsecure.com/media/1305/understanding-and-managing-specialty-drugs-brochure-en.pdf
and it is anticipated that this number will continue to grow. Furthermore, 42% of employer drug spend are based on specialty drugs,
https://www.manulife.ca/business/group-benefits/services/drug-management.html
and employers are faced with an increase in employees needing or accessing specialty drugs. Rxi’s patient support and a targeted intervention program help ensure that drugs are effective and are being used appropriately, which results in better employee health outcomes and reduced employer costs.

Rxi is a high growth, profitable business, with annualized revenue for calendar year 2020 of approximately $16.6 million with earnings before interest, taxes, depreciation and amortization (“EBITDA”) of approximately $600,000.
Annualized revenue figures are calculated based on annualizing the available results for the 11-month period ending November 30, 2020, as announced on January 26, 2021.

Rxi generates revenue through:
(1) wholesale and dispensary services,
(2) licensing for its proprietary technology, and
(3) pharmacy partnerships.
Upon closing, the acquisition of Rxi will be immediately accretive to CloudMD with synergies the Company believes will drive further revenue and increased EBITDA margins through cross-selling and integration across its portfolio of healthcare technology solutions.

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of Rxi, CloudMD has paid shareholders of Rxi aggregate consideration of $9.5 million payable as follows: (i) $2.5 million in cash, subject to a working capital adjustment; (ii) $4 million in common shares of the Company; and (iii) a performance-based earnout of $3 million, which is payable in common shares of the Company in equal annual issuances over a period of two years. For full terms, please see the press release dated January 26, 2021.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI).

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers a comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
[phone]

[StockpickerCAPC]

Introducing iMD’s New Partner – St. Joseph’s Care Group.

source
https://www.imdhealth.com/2021/05/05/introducing-imds-new-partner-st-josephs-care-group/

May 5,2021

Improved access to digital health resources through partnership between St. Joseph’s Care Group and iMD Health Global.
St. Joseph’s Care Group (SJCG) and iMD Health are partnering to make it easier for clients, families, and staff to find up-to-date resources and information on a wide and constantly growing range of healthcare topics.

iMD Health is Canada’s largest digital patient education platform that brings together content on more than 2,100 medical topics in a simple-to-use format with over 80,000 resources in a variety of formats from articles, images and infographics to short videos. Content is customized by audience, whether you are a healthcare professional or a client who wants to learn more about an illness, treatment or other healthcare topics.

“In this digital age, people rely on technology as another way to learn more about our health and wellbeing. We are pleased to partner with iMD to make this free, 24-hour a day educational resource available to our clients and staff.” Tracy Buckler, President & CEO, St. Joseph’s Care Group.
“We are excited about our new partnership with St. Joseph’s Care Group. This partnership is a positive step forward to improving access to trusted patient education content, reducing the need for their clients (patients) to search the internet and determining for themselves if the health content is accurate,” says Kevin Delano, President & CEO of iMD Health Global. “We look forward to working with SJCG to assist in providing access to their clients and families throughout the Thunder Bay region, improving their health literacy”.

There are a number of ways to access SJCG’s iMD Health portal:
- Click the iMD Health link found on SJCG’s library page;
https://sjcg.net/departments/library/main.aspx

- Search the iMD Health public portal at:
https://app.imdhealth.com/channels/kiosk/welcome
on a smart device using the free WiFi available at most SJCG sites; or

- Use a free-of-charge computer at St. Joseph’s Hospital’s Library.

About St. Joseph’s Care Group
St. Joseph’s Care Group (SJCG) is a health care provider located in Thunder Bay, Ontario, that combines tradition and innovation in responding to the unmet needs of the people of Northwestern Ontario since 1884. SJCG offers a broad range of programs and services in Addictions & Mental Health, Rehabilitative Care, and Seniors’ Health, and is located in Thunder Bay, Ontario, Canada.

With over 2,400 staff and growing, SJCG is recognized as a leader in delivering safe, high-quality health care and is Accredited with Exemplary Standing, the highest level awarded by Accreditation Canada. SJCG’s vast service area and culturally diverse client population includes many remote and isolated communities where access to specialized health services is a challenge. To meet that challenge, SJCG finds new and innovative ways to deliver care through technology and strong partnerships, and is Northwestern Ontario’s regional lead for Wound Care, Rehabilitative Care, Behavioural Supports, Seniors’ Care, Rapid Access Addiction Medicine, and Palliative Care.
For more information, visit
https://www.sjcg.net/
For more information, contact SJCG Communications, Engagement & Client Relations 1-807-768-4455 / [e-mail]

About iMD Health Global
iMD Health Global is a Toronto-based eHealth software development company, focused on innovating healthcare education and improving the health literacy of both healthcare providers and patients. Since 2010, iMD has grown into Canada’s largest digital patient engagement platform. Healthcare providers use iMD’s cloud-based platform (during in person or virtual consults) to engage with their patients at a deeper level and optimize knowledge transfer surrounding a patient’s condition and treatment plan. Patients engage with the iMD platform at home for searches, or reviewing the resources emailed by their provider or from many of iMD’s portal integrations. iMD has over 80,000 images, booklets, and video resources, (covering 2,100 medical topics) in an award-winning user interface that makes patient education both efficient and effective. At the end of a an iMD experience, a summary of all the resources viewed can be emailed to the patient to review and continue their learning journey or share with a family member, improving their health literacy and adherence to their treatment / recovery plans. The iMD platform is utilized by over 10,000 clinicians (doctor’s, nurses and pharmacists in, clinics, hospitals, pharmacies, infusion clinics and in homecare settings) and is accessed by millions of Canadians coast to coast.
For more information please visit:
https://www.imdhealth.com/
and
https://app.imdhealth.com/channels/kiosk/welcome
For more information, contact Jared Sonnenberg, VP [e-mail]

About CloudMD Software & Services (TSXV: DOC)
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 millionindividuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://cloudmd.ca/
For more information, contact Julia Becker, VP Investor Relations [e-mail]

[GorillaDaddy]

I really need my other stocks to hit so I can load this baby.

[StockpickerCAPC]

Telehealth: Buy the Dip.

source
https://www.fool.ca/2021/05/02/telehealth-buy-the-dip/

May 2, 2021

With the health crisis receding, investors seem to have lost their appetite for telehealth stocks. Some of the biggest players in this industry have lost nearly half their value in recent months. Canada’s telehealth stocks have held up slightly better, but are still trading below their all-time-highs.
If this dip is worth buying into or is the telehealth industry a losing play as the economy reopens? Here’s a closer look.

Telehealth is here to stay
It’s worth noting that there was a surge in the number of virtual clinic appointments booked last year. However, physical clinics were not shut during the lockdown. People could visit their family doctor and get the medical attention they needed throughout the pandemic. However, many chose to visit virtually. This is because a video call with a doctor is clearly more convenient.
Convenience is what makes these services sticky and is probably why the industry has plenty of runway ahead, despite the concerns of investors. The ongoing dip potentially creates an opportunity.

Telehealth stocks
WELL Health Technologies (TSX:WELL) is still the market leader in Canada. The stock is trading 17% lower than its all-time-high, but its underlying fundamentals remain as strong as ever. The company is expanding its footprint in the U.S. this year and is on track to exceed its $300 annual revenue run rate. Meanwhile, its market value is just four times higher at $1.25 billion.
The WELL health team clearly believes the stock is undervalued, which is why they’ve initiated a Normal Course Issuer Bid (NCIB) to buy back shares.

CloudMD Software & Services Ltd. (TSXV:DOC) is another one of the telehealth stocks that has felt the full force of the broader tech sell-off. After a 200% rally in 2020, the stock is down by about 30% year to date. Amid the recent pullback, there is no disputing that the company has a solid growth path going by its acquisitions over the past year.

CloudMD has carved a niche for itself as a leading provider of cloud-based software for medical practitioners. The company offers telehealth services, an employer healthcare platform, and a mental health solution. Its telehealth solutions are currently being used by over 500 clinics and 4,000 licensed practitioners.
With the world unlikely to revert to the traditional methods of seeing healthcare providers in person, CloudMD remains well-positioned to see strong demand for its telehealth solution. After acquiring company after company last year, the company now has a solid growth path with revenue expected to surge with this strategy.

CloudMD Prospects
Aggressive acquisition strategies mean CloudMD can now operate as a telehealth provider in several industries. Its annualized run rate has already crossed the $60 million mark. Meanwhile, the team is actively diversifying its revenue streams which is another green flag for investors.
That being said, the recent pullback means the stock is fairly valued. The stock is trading at just abopve seven times annualized revenue. The company is expected to deliver superior returns over the long run, given the favorable industry trends supported by an aggressive acquisition strategy.

[StockpickerCAPC]

CloudMD Reports Record Fourth Quarter 2020 Revenue; On Track for Significant Growth in 2021.

source
http://www.digitaljournal.com/pr/5055440

April 28, 2021

- Q4 2020 revenue of $5.8 million; up 138% compared to Q4 2019 and 73% compared to Q3 2020.
- Q4 2020 gross margin 1 of over 40% attributable to strong revenue mix
Strong balance sheet with current cash position of approximately $100 million.
- Fast growing Enterprise Health Solutions (“EHS”) Division 2 has current revenue run rate of $53 million and over 10% Adjusted EBITDA 3.
- Achieved annual organic growth across all businesses including medical clinics during COVID-19 shutdowns.
- Continued growth by adding over $92 million in annualized revenue already in 2021 through strategic M&A.
- Strong 2021 expectations with annualized revenue run rate exceeding $120 million and positive Adjusted EBITDA.
1 Gross margin is a non-GAAP measure as described in the Non-GAAP Financial Measures section of this News Release.
2 Enterprise Health Solutions Division plus Re:Function Health Group, a rehabilitation clinic network for enterprise clients, insurers and corporations.
3 Adjusted EBITDA is a non-GAAP measure as described in the Non-GAAP Financial Measures section of this News Release.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, announced its financial results for the fourth quarter and year ended December 31, 2020. All financial information is presented in Canadian dollars unless otherwise indicated.

Dr. Essam Hamza, CEO of CloudMD commented, “I am very pleased with our fourth quarter and full year 2020 financial results which are consistent with our internal and consensus estimates. The fourth quarter was a foundation-building quarter for CloudMD with the completion of five strategic acquisitions and the launch of our Enterprise Health Solutions Division. I am proud that we have seen healthy organic growth across all verticals of our business despite the long closures due to COVID-19. As we see communities starting to re-open, in addition to the majority of the acquisitions closing in first quarter 2021 and the roll out of our fully connected healthcare ecosystem, we expect to see significant revenue growth in the upcoming quarters.” Dr. Hamza continued, “We have a current revenue run rate of over $120 million, which does not account for any of the organic growth and cross selling synergies we are anticipating this year. In addition, we are also expecting to be Adjusted EBITDA-positive in the latter half of 2021 with healthy gross margins. We are well-positioned as leaders in the digital healthcare space and I am very excited to see the continued growth of our business in 2021.”

Fourth Quarter 2020 Financial Highlights
- Q4 2020 revenue was $5.8 million, compared to $2.4 million in Q4 2019. The increase is primarily attributable to acquisition growth with 5 acquisitions completed in the quarter. Excluding the impact of business acquisitions, the Company achieved organic growth across all of its businesses, aided by:
(1) market adoption of telehealth services;
(2) new product features and enhancements to the Company’s digital platforms; and
(3) positive impact from marketing campaigns.

- Q4 2020 gross margin was 40%, compared to 44% in Q4 2019. In the current year, the Company reclassified certain expenses within its income statement to cost of sales, which resulted in an overall decrease in gross margin as compared to Q4 2019. Excluding the impact of the reclassification, gross margin for the underlying businesses remained healthy and stable.

- Net comprehensive loss attributable to equity holders of the Company in Q4 2020 was $5.2 million or $0.05 per share, compared to $1.5 million or $0.02 per share in Q4 2019. In the quarter, the Company completed numerous strategic initiatives, including the completion of 5 acquisitions in the quarter and raising $37.3 million in a bought deal short form prospectus offering, which it expects to result in strong future growth of the Company.

- Adjusted EBITDA was a loss of $1.5 million for Q4 2020, compared to a loss of $0.6 million in Q4 2019. The Adjusted EBITDA calculation adjusts for share-based compensation, costs related to financing, acquisitions and litigation including associated loss provisions, change in fair value of contingent consideration and loss from discontinued operations. Adjusted EBITDA is used by management to evaluate the Company’s cash operating performance, and a complete definition and calculation are provided further below.

- Cash and cash equivalents as at December 31, 2020 were $59.7 million. Subsequent to December 31, 2020, the Company raised $58.2 million in a bought deal short form prospectus offering in March 2021, and the Company’s current cash balance is approximately $100 million.

Fourth Quarter Operational Highlights
- On October 8, 2020, the Company launched CloudMD on-Demand, an online, virtual care service for companies, insurers and pharmacies to offer their customers easier, more convenient access to virtual telemedicine.
- On October 15, 2020, the Company announced that it closed the acquisition of Snapclarity Inc., an on demand, digital platform that provides an assessment for mental health disorders.
- On October 19, 2020, the Company announced that it appointed Mena Beshay to Global Head, Corporate Development, and Daniel Lee as Chief Financial Officer.
- On October 26, 2020, the Company announced that it closed the acquisition of an 87.5% interest in Benchmark Systems Inc.
On October 26, 2020, the Company announced that it closed the acquisition of a US-based medical clinic as part of a comprehensive strategy to provide end to end healthcare services for chronic care patients.

- On November 9, 2020, the Company announced that it closed a $37.3 million oversubscribed, bought deal financing.
- On November 12, 2020, the Company launched its new EHS division, which provides one connected healthcare platform for corporations, insurers and advisors to address the comprehensive health and wellness of their employees and their families.
- On November 18, 2020, the Company announced that it closed the acquisition of iMD Health Group Corp., a novel award winning, education platform.
- On November 19, 2020, the Company announced that it closed the acquisition of Re:Function Health Group Inc., a profitable rehabilitation clinic network of 8 clinics and 37 specialists and allied health professionals across British Columbia.
- On December 7, 2020, the Company announced that it is expanding its already established relationship with Save-On-Foods, Western Canada’s largest grocery chain.

Key Highlights Subsequent to the Quarter
- During January 2021, the Company closed the previously announced acquisitions of HumanaCare, Medical Confidence and Canadian Medical Directory.
- On January 26, 2021, the Company announced that it entered into a binding agreement to acquire RXI Group of companies, an established one-stop patient support logistics company and leading customer relationship management technology provider.
- On February 6, 2021 the Company announced that it closed the acquisition of West Mississauga Medical Clinic.
- On February 16, 2021, the Company announced that it entered into a binding agreement to acquire VisionPros, a rapidly growing digital eyecare platform with a robust suite of digital vision care tools.

- In March 2021, the Company closed the previously announced bought deal financing, including the full over-allotment option for a total of $58 million.
- On March 18, 2021, the Company provided an update on the rapid growth of its EHS division, realizing over $5 million of organic growth since the beginning of 2021.
- On March 23, 2021, the Company announced that it closed the acquisition of IDYA4; and subsequently on April 6, 2021, the Company announced that it closed the acquisition of Aspiria Corp.
- On April 8, 2021, the Company announced that it entered into a binding agreement to acquire Oncidium, creating one of the largest providers to the employer market in Canada.

Outlook
The Company is focused on revolutionizing the healthcare industry by leveraging technology to digitalize its delivery to provide better access to care, which leads to better health outcomes. CloudMD is building one, connected healthcare ecosystem that addresses all points of a patient’s care from one platform. CloudMD has already started the integration of its health-tech solutions, and plans to launch a fully automated, connected platform later in 2021. CloudMD’s organic growth will be largely driven by its hybrid clinic network, digital services and EHS division. Through its recent acquisitions, there are opportunities for cross-functional synergies and cross selling that will drive further organic growth. CloudMD expects to see continued organic growth across all divisions of its business largely due to an increase in virtual healthcare visits, an increase in digital services and cross selling synergies in the EHS division. The Company has already seen over $5 million in organic revenue growth since January 2021 and has actualized cost synergies of over $500,000. Furthermore, the Company is on the road to profitability and expects to be Adjusted EBITDA-positive starting in Q3 2021.

CloudMD’s current revenue run rate is over $120 million which does not take into consideration any expected organic growth or cross selling synergies. The Company has a strong cash position with approximately $100 million, and approximately $35 million left after the closing of the three outstanding acquisitions. With a strong balance sheet, CloudMD has an opportunity to look at debt facility options to conserve cash and decrease dilution.

CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through accretive, synergistic acquisitions, achieving meaningful organic growth across all divisions, and the full integration of its healthcare solutions to provide one, connected platform that addresses all points of care for patients. CloudMD is positioned as a leader in digital healthcare and a leading provider to the employer healthcare market in Canada. The Company will continue expanding its footprint across North America and strategically in Europe. CloudMD anticipates reporting its Q1 2021 financial statements at the end of May 2021.

Selected Financial Information
All results were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.
See the table at:
http://www.digitaljournal.com/pr/5055440

Financial Statements and Management’s Discussion and Analysis
This news release should be read in conjunction with the Company’s audited consolidated financial statements and related notes, and management’s discussion and analysis for the years ended December 31, 2020 and 2019, copies of which can be found at
https://www.sedar.com/homepage_en.htm

Non-GAAP Financial Measures
In addition to the results reported in accordance with IFRS, the Company uses various non-GAAP financial measures, which are not recognized under IFRS, as supplemental indicators of the Company’s operating performance and financial position. These non-GAAP financial measures are provided to enhance the user’s understanding of the Company’s historical and current financial performance and its prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of the Company’s core operating results and ongoing operations and provide a more consistent basis for comparison between quarters and years. Details of such non-GAAP financial measures and how they are derived are provided below as well as in conjunction with the discussion of the financial information reported.

Since non-GAAP financial measures do not have any standardized meanings prescribed by IFRS, other companies may calculate these non-IFRS measures differently and our non-GAAP financial measures may not be comparable to similar titled measures of other companies. Accordingly, investors are cautioned not to place undue reliance on them and are also urged to read all IFRS accounting disclosures presented in the audited consolidated financial statements and the accompanying notes for the years ended December 31, 2020 and 2019.

EBITDA
EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. EBITDA referenced herein relates to earnings before interest, taxes, depreciation and amortization. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the cash operating income (loss) of the business. Please refer to section on EBITDA for reconciliation.

Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Adjusted EBITDA referenced herein relates to earnings before interest; taxes; depreciation; amortization; share-based compensation; financing-related costs; acquisition and other related costs, net; litigation costs and loss provision; change in fair value of contingent consideration; and loss from discontinued operations. This measure does not have a comparable IFRS measure and is used by the Company to evaluate its cash operating income (loss) of the business, adjusted for factors that are unusual in nature or factors that are not indicative of the operating performance of the Company. Please refer to section on Adjusted EBITDA for reconciliation.

Gross Profit
Gross Profit is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Profit referenced herein relates to revenues less cost sales. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.

Gross Margin
Gross Margin is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Profit referenced herein is defined as gross profit as a percent of total revenue. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI).

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
[phone]

[winvester7189]

[GorillaDaddy]

Agreed. I’m holding for a couple of years at least.

[happyglass]

It is in the Canadian wilderness only accessible through the otc by the brave souls who have the stomach to navigate it. I do not think it will be our little secret for much longer. :)

[123crazyjerry]

Those kind of acquisitions usually means lots of huge spikes on pps, in this case multiples. IMHO. I’m buying more Monday. Out of cash today, loading H*MC.

[GorillaDaddy]

Hey Jerry, been holding awhile — I was wondering the same the same thing. They keep on acquiring and acquiring — soon hope to be doubles

[123crazyjerry]

STockpicker, I'm new to this stock, but not the market, and I've been doing well in bio-techs, but, to be honest, I've never seen a stock with the incredible history as DOCRF, and it's only at 1.60.

From an outsider's view, it looks like she should be in double digits, immensely undervalued.

It's in a friggin huge market, all new medical communication technology, but I'm not hesitating, I'm buying more.

[StockpickerCAPC]

Presentation Transcript of the Oncidium Acquisition as PDF Document.



Look at
https://investors.cloudmd.ca/wp-content/uploads/2021/04/Presentation_ORBIT-FINAL-.pdf

[StockpickerCAPC]

CloudMD to Acquire Oncidium, One of the Largest Healthcare Providers to the Employer Market in Canada.

source
http://www.digitaljournal.com/pr/5031727

April 08, 2021

- Oncidium is one of Canada’s leading health management companies with a loyal client base of over 500 corporate and public sector clients across various industries.
- This transformative acquisition expands CloudMD’s National footprint to include 5,500 clients, 8,500 direct healthcare providers and over 5 million individual lives touched.
- The $100 million transaction value (including the full performance-based earnout) represents CloudMD’s largest acquisition to date; upfront consideration implies a valuation multiple of ~1.8x last twelve months (“LTM”)1 sales.

- Oncidium has a strong financial profile with LTM revenues of $37 million, Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”)2 margin of 14% and a current 4-month revenue run rate3 in excess of $40 million annualized.
- Oncidium has significant growth projections with 3-year revenue CAGR of more than 30% and a blue-chip client base that includes many of Canada’s Fortune 500 Companies.

- The employer market is the fastest growing area in healthcare spending and is expected to grow 130% by 2025 4.
- This acquisition accelerates the positioning of CloudMD as the leading service provider in the employer market and creates opportunities for synergies and cross sale of existing services.
- CloudMD will host a webinar today to discuss the acquisition at 11am EST (8am PST).

1 LTM represents the period from March 1, 2020 to February 28, 2021.
2 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measure as described in the Non-GAAP and Non-IFRS Measures section of this news release.
3 4-month revenue run rate represents the period from November 1, 2020 to February 28, 2021.
4 https://www.mercer.ca/en/our-thinking/rising-employee-healthcare-costs.html


CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, is excited to announce that it has signed a binding agreement to acquire Oncidium Inc., one of Canada’s leading healthcare providers to employers. Oncidium has built a difficult-to-replicate ecosystem of over 500 clients, more than 1,000 health care providers and medical assessors, and its clients with over 2 million employees across the country.

The employer market vertical is the fastest growing area in healthcare and this acquisition makes CloudMD a Canadian leader in the space. Built on over 20 years of experience in the employer health market, Oncidium is one of Canada’s leading health management companies with clients from a number of Canada’s Fortune 500 Companies. Oncidium’s services focus on reducing occupational absence by delivering solutions that improve the health and wellness of employees. Oncidium’s services include solutions that support absentee management, short-term and long-term disability, workers’ compensation claims management, mental health assessment and evaluation services that focus on prevention, accommodation, and recovery. Oncidium’s services are delivered virtually, on-demand and on-site through its network of over 1,000 healthcare professionals, assessors and medical centers nationally.

The acquisition of Oncidium aligns with CloudMD’s strategy of providing whole-person care and will fit into its connected healthcare platform. Oncidium’s solution will be a key component of the Company’s Enterprise Health Solutions (“EHS”) Division and will provide complementary services to the Company’s already established employer base. This will enable CloudMD to provide a comprehensive EHS solution to the combined network of over 5,500 clients and 5 million employees across North America.
The addition of Oncidium will immediately be synergistic for a number of key reasons:

- Instantly accretive to CloudMD with LTM revenues of $37 million and Adjusted EBITDA margin exceeding 14% with current 4-month annualized revenue run rate in excess of $40 million.
- On a consolidated basis, CloudMD will have an annualized revenue run rate in excess of $120 million, overall gross margin of 35% and achieve positive Adjusted EBITDA.
- Drives revenue and margin expansion for the Enterprise Health Solutions division5 with annualized revenue run rate of $53 million, Adjusted EBITDA of +10% and a healthy gross margin of 40%.
- Rapidly growing business in the fastest growing segment of the Canadian healthcare space.
- Cross selling opportunities through a combined network of 5,500 loyal corporate clients and over 5 million lives.
- Increases CloudMD’s capabilities to include additional employer health services.
- Competitive advantage to industry peers with comprehensive platform, addressing whole-person healthcare through assessment, triage and support across mental health, specialist care, healthcare navigation, short-term and long-term support and educational resources.

5 Enterprise Health Solutions Division plus Re:Function Health Group, a rehabilitation clinic network for enterprise clients, insurers and corporation.

Dr. Essam Hamza, CEO of CloudMD commented, “This transformative acquisition was another highly strategic decision and part of our overall product roadmap and positions CloudMD as a leader in the employer healthcare market. The Oncidium team has built an incredible healthcare offering and the company has become one of the leading health services provider to the employer marketplace. I am incredibly excited for our future growth as we continue building out our healthcare capabilities that now includes: brick-and-mortar clinics, allied care, virtual care, a leading mental health solution, direct-to-consumer offerings and a robust and expansive Enterprise Health Solutions division. We are uniquely positioned to deliver and drive shareholder value.”

Karen Adams, Chief Health Innovation Officer & Global Head of Enterprise Health Solutions added,“We have already identified immediate synergies which will drive further revenue and margin growth and we will continue to unlock growth opportunities throughout the integration. This acquisition allows us to take the leadership position in the employer market with a fully-integrated product offering which addresses all aspects of employee health and wellness and ensures optimization of employer spend.”

Dr. Lu Barbuto, CEO of Oncidium commented, “The trend lines in Canada and across the industrialized world are clear: the employer is increasingly absorbing employee healthcare costs and is becoming more engaged in managing the related costs and outcomes. We believe that there will be tremendous opportunities for existing CloudMD services to be delivered to Oncidium’s excellent employer client base, so that collectively we can continue to support their growing needs. With the CloudMD team, I look forward to continuing to develop, expand and deliver science based precision health solutions to Employers that will in turn improve the lives of Canadians.”

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of Oncidium, CloudMD has agreed to pay shareholders of Oncidium: (i) $30 million in cash, subject to applicable working capital adjustments; (ii) $38 million in common shares of the Company at a deemed price of $2.30 per common share; and (iii) a performance-based earnout of up to $32 million over a 3 year period, which is payable in cash or common shares of the Company, at the sole discretion of CloudMD at the time of the earnout. The common shares will be subject to certain contractual restrictions on trading for a period of up to 30 months from the date of issuance. CloudMD intends to fund the cash portion of the upfront consideration with cash on hand and/or debt.

The upfront portion of the consideration implies a valuation of ~1.8x LTM Sales and ~13.1x LTM Adjusted EBITDA. The total transaction value (including full performance-based earnout) carries an implied valuation of ~1.5x Sales and ~8.1x Adjusted EBITDA.

The acquisition is subject to customary closing conditions, including TSX Venture Exchange approval. The closing of the transaction is expected to occur during the first half of June 2021.

Echelon Capital Markets (a member of Echelon Wealth Partners Inc.) is acting as exclusive financial advisor to CloudMD in connection with the transaction.

CloudMD Acquisition of Oncidium Webinar
Investors are invited to participate in a live webinar with CloudMD management to discuss the acquisition and ask questions.
Date and Time:
April 8, 2021 at 11am EST (8am PST)
Webcast link:
https://edge.media-server.com/mmc/p/io6nnw2q
If investors would like to participate via telephone, use the dial-in numbers below:
Participant Toll-Free Dial-In Number: [phone]
Participant International Dial-In Number: [phone]
Passcode: 1067246
A presentation will be made available on the Company’s website following the webinar.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 2.5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
Tel: [phone]

[StockpickerCAPC]

CloudMD Closes Acquisition of Aspiria, and Launches Focused Mental Health Support Solution in North America for Employers and Students.

source
http://www.digitaljournal.com/pr/5028440

April 06, 2021

Combined Network of 3 Million Patient Lives and 7,500 Psychologists and Psychotherapists.

- Aspiria is a leader in Student Assistance and Employer Programs and serves over 750 organizations, with 1 million employees, students, and their families, in Canada and internationally.
- Fully integrated Mental Health Solutions offering including HumanaCare, Aspiria and Snapclarity, providing more than 3 million employees and students with access to the digital mental health platform.
- Ensure employees and students receive access to traditional Employee Assistance Program services as well as virtual access to multidisciplinary services such as Internet-based Cognitive Behavioural Therapy (iCBT), Women’s Mental Health, Oncology support as well as other solutions tailored to moderate and chronic mental health.
- Anticipated annual pro forma revenue growth rate of over 20% across Enterprise Health Solutions (“EHS”) division with fully realized cost saving synergies of $500,000 per year.

CloudMD Software & Services, a digital healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has closed the previously announced acquisition of Aspiria Corp., a company that provides an integrated Employee (“EAP”) and Student Assistance Program (“SAP”), that focuses on a comprehensive suite of mental health and wellness solutions for all employer and educational sectors. Aspiria currently serves over 750 organizations, with 1 million employees, students, and their families, in Canada and internationally.

With the acquisition of Aspiria, CloudMD now has the fourth largest EAP platform in Canada, with a combined network of over 7,500 psychologists and psychotherapists covering over 3 million lives. The addition of Aspiria to CloudMD’s EHS Division is immediately synergistic and will contribute to the division’s healthy gross margins, and an organic growth rate of over 20%. CloudMD continues to expand its footprint into specialized segments, scale its operations, and drive revenue and profitable growth across its EHS Division.

With the addition of Aspiria, the Company has launched a focused mental health solution that ensures employees and students receive access to traditional EAP services as well as virtual access to multidisciplinary services such as iCBT, Women’s Mental Health, Oncology support as well as other solutions tailored to mild, moderate and chronic mental health issues. The integrated mental health solution combines HumanaCare, Aspiria and Snapclarity and provides students and employees across North America access to the digital mental health platform to support all mental health issues. The platform includes a suite of digital tools, combined with a traditional short-term counselling model designed by clinicians and grounded in evidence-based practices that are proven to positively impact outcomes. Individuals have access to assessment and triage, navigation and care via web, mobile chat/text and telephone. Chronic mental health will be assessed and triaged to the appropriate care optimizing group benefit programs and improving outcomes.

As part of the combined mental health support solution, employees, students and members have immediate access to a market-leading iCBT program. When combined with CloudMD’s other mental health support services, and as part of a streamlined EAP experience, iCBT provides additional opportunities for virtual service delivery to deliver the best possible mental wellbeing outcomes to individuals.

The Company continues to focus on the integration of all its healthcare technology solutions to provide a connected healthcare ecosystem that addresses all points of a patient healthcare journey. Leveraging its Real Time Intervention Platform (“RTIP”), the Company will continue rolling out programs like the mental health support solution and the Substance Use Disorder program across North America to help mitigate the growing mental health crisis.

Karen Adams, Chief Health Innovation Officer and Global Head of Enterprise Health Solutions commented,
“We are very excited to close the acquisition of Aspiria and welcome the team to our EHS Division. The addition of Aspiria enables us to support employers with the launch of our integrated mental health support solution, providing individuals access to important assessment and triage to navigate their mental health issues with the right treatment plan. Rising mental health issues in the workplace requires an expansion of what employers currently understand as EAP which includes more assessments, comprehensive treatment plans and progressive measurement empowering people to get the help they need and in turn reduce casual absenteeism and disability within organizations.”

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of Aspiria, CloudMD has paid shareholders of Aspiria aggregate consideration of $3 million payable as follows: (i) $1.2 million in cash, subject to a working capital adjustment; (ii) $1.05 million in common shares of the Company; and (iii) a performance-based earnout of $0.75 million, which is payable in common shares of the Company after a period of 1 year. All common shares issued pursuant to the acquisition will be issued at a deemed price of $2.28 per common share. For full terms see press release dated January 18, 2021.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 3 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit
https://cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION, CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]
Tel: [phone]

[mrdecember123]

keep the good news coming- Buy, Hold, add at one's leisure here.

[StockpickerCAPC]

CloudMD to Participate in Upcoming Laurentian Bank and Bloom Burton & Co. Investor Conferences.

source
http://www.digitaljournal.com/pr/5027127

April 05, 2021

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, is pleased to announce that the Company has been invited to participate in the upcoming Laurentian Bank Securities and Bloom Burton & Co. investor conferences.

Laurentian Bank Securities Annual Institutional Investor Conference (April 6-9, 2021)
Thursday April 8, 2021 at 12:45pm EST (9:45am PST) – Diversified Technology Track

Dr. Essam Hamza will be participating on a panel discussion titled, Digital Healthcare: Where To From Here?. Members of management will also be participating in one-on-one investor meetings.
Investors should contact a Laurentian Bank Securities representative for more information and to schedule one-on-one meetings with management.

Bloom Burton & Co. Annual Healthcare Investor Conference (April 20-21, 2021)
Tuesday April 20, 2021 at 3:00pm EST (12:00am PST) – Track 2
Dr. Essam Hamza will be presenting the Company and providing an update on the business via a webinar. Members of management will also be participating in one-on-one investor meetings during the conference.

For more information and to register for the event,
visit the Bloom Burton & Co.
https://www.meetmax.com/sched/event_71993/conference_register.html

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 2.5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
Vice President, Investor Relations
Email: [e-mail]
Tel: [phone]

[StockpickerCAPC]

Life Sciences Companies Investors Presentations Now Available for On-Demand Viewing.

source
http://www.digitaljournal.com/pr/5020460

March 29, 2021

Life Sciences Investor Forum today announced that the presentations from the March 25th conference are now available for on-demand viewing at LifeSciencesInvestorForum.com.

This virtual event showcased live company presentations and interactive discussions focused on the life sciences industry. The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download shareholder materials from the company’s “virtual trade booth”.

REGISTER OR LOGIN AT:
https://www.lifesciencesinvestorforum.com/events/event-details/agenda?utm_source=Post%20PR&utm_medium=Press%20Release&utm_campaign=0325LSIF

March 25th Presenting Companies:
MagicMed Industries Inc. Ticker Pending
Sernova Corp. OTCQB: SEOVF | TSX-V: SVA
VolitionRx Limited NYSE AMERICAN: VNRX
Skylight Health Group Inc. OTCQX: SHGFF | TSX-V:SHG
Else Nutrition Holdings Inc. OTCQX: BABYF | TSX-V: BABY
Cardiol Therapeutics Inc. OTCQX: CRTPF | TSX: CRDL
EarthRenew Inc. OTCQB: VVIVF | CSE: ERTH
Avicanna Inc. OTCQX: AVCNF | TSX: AVCN
Orexo AB OTCQX: ORXOY | STO: ORX
CloudMD Software & Services Inc. Pink: DOCRF | TSX-V: DOC

To facilitate investor relations scheduling and for more information about the program, please visit
https://www.lifesciencesinvestorforum.com/

About Life Sciences Investor Forum
Life Sciences Investor Forum is the leading proprietary investor conference series that provides an interactive forum for Life Sciences companies to meet with and present directly to investors.

A real-time solution for investor engagement, Life Sciences Investor Forum is powered by Intrado Digital Media and specifically designed for more efficient investor access. Replicating the look and feel of on-site investor conferences, Life Sciences Investor Forum combines leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

CONTACT
Life Sciences Investor Forum
John M. Viglotti
SVP Corporate Services, Investor Access
[phone]
[e-mail]

[StockpickerCAPC]

CloudMD Announces Closing of IDYA4 Acquisition and North American roll out of Substance Use Disorder Platform to Address Growing Addiction Crisis.

source
http://www.digitaljournal.com/pr/5014543

March 23, 2021

- The COVID-19 pandemic has resulted in a significant increase in substance use across North America.
- IDYA4’s Real Time Intervention Platform for Substance Use Disorder is used across 38 states in the United States.
- The platform shares information within the bounds of policies and laws like The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), and the Criminal Justice Information Sharing (“CJIS Policy”) to view individual's historical data to help them get the right treatment.
- Provides real time analysis on the needs of the individuals to ensure successful rehabilitation.
- The platform enables access to healthcare data for the successful treatment and rehabilitation in compliance with the Office of the National Coordinator for Health Information Technology’s (“ONC”) interoperability rule.
- CloudMD is focused on expanding the platform further across the United States and in Canada.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has closed the acquisition of IDYA4, a leading health technology company focused on data interoperability and cybersecurity based in the United States.

Built on over 20 years of experience, the IDYA4 team has been at the forefront of the development of information sharing and interoperability solutions across all 50 states for clients including the US Department of Justice, the US Department of Homeland Security, US Health and Human Services, and National Intelligence.

IDYA4 is the technology backbone of CloudMD’s integration of its healthcare solutions providing one, digitally connected, patient-focused platform. Initial stages of the integration are well underway and IDYA4 is already integrated with Snapclarity, Livecare and iMD Health. The Company will be deploying a fully unified product offering to partners and enterprise clients within the next few months. The combined technology will also be valuable as CloudMD continues to emphasize patient engagement through connected technology, healthcare portals, telehealth applications, and wearable devices.

Real Time Intervention Platform for Substance Use Disorder.
Upon closing of the acquisition, the Company can now focus on the continued expansion of IDYA4’s Real Time Intervention Platform (“RTIP”) for Substance Use Disorder (“SUD”) across North America to help and support the growing addiction crisis.

The COVID-19 pandemic has affected communities across North America and the number of Substance Use Disorders is on a rise resulting in fatal overdoses. Over 81,000 drug overdose deaths occurred in the United States in the 12 months ending in May 2020, the highest number of overdose deaths ever recorded in a 12-month period according to recent provisional data from the Centers for Disease Control and Prevention (“CDC”).
https://www.cdc.gov/media/releases/2020/p1218-overdose-deaths-covid-19.html

Canada is facing similar challenges where between April and June 2020, there were over 1,628 opioid toxicity-related deaths, resulting in a startling 54% increase from the year before. Nearly 97% of these deaths were found to be accidental.
https://thefulcrum.ca/features/the-epidemic-within-a-pandemic-opioid-overdoses-continue-to-make-an-impact-during-covid-19/

In mid-August 2020, the CDC revealed the results of a survey conducted in late June 2020 that opens a window into just how serious the psychological and emotional impact of the Coronavirus pandemic is for Americans. The survey shows that reports of anxiety disorder symptoms were about three times those reported in the second quarter of 2019 (25.5% versus 8.1%), and depressive disorder was about four times that reported in Q2 2019 (24.3% versus 6.5%). CDC also said 13.3% of respondents reported starting or increasing substance abuse (including drugs and alcohol). In addition, more than twice as many respondents reported serious consideration of suicide in the previous 30 days than did adults in the US in 2018, referring to the previous 12 months (10.7% versus 4.3%).

The RTIP for SUD is an innovative, health data integration and security technology solution leveraging various information sharing standards and is already operational across 38 states and local agencies to address the opioids crisis. Some of these agencies include Bergen County Prosecutors Office, New Jersey, Passaic County Prosecutors Office New Jersey, and the Executive office Public Safety and Security at Commonwealth of Massachusetts.

These state level agencies have received funding from the US Department of Justice, CDC, Center for Medicaid Services (“CMS”) and the Office of the National Coordinator for Health Information Technology (“ONC”) to implement RTIP in keeping their communities healthier and safer. The Company plans on expanding and scaling the platform further across the United States and in Canada.

RTIP for SUD enables broader collaboration among behavioral health, human services, and justice professionals to share information within the bounds of policies and laws like The Health Insurance Portability and Accountability Act of 1996 (HIPAA), Criminal Justice Information Sharing and the ONC’s Interoperability Rule to enable access to patient health data and to view individual's historical data to help them get the right treatment and services for successful rehabilitation process. The platform provides real time analysis on the needs of the individuals to ensure successful rehabilitation.

Dr. Amit Mathur, President of CloudMD, “We are very excited to close the acquisition of IDYA4 as it provides us with the technology backbone for our integrated health services platform which connects all our healthtech solutions into one seamless experience. Equally exciting is our ability to scale across North America with programs like the Substance Use Disorder platform and already established partnerships at the highest level of Government agencies. We will use the RTIP platform to provide similar solutions in Canada to assist in addressing the enormous issue of opioid and substance use made even worse as a result of the COVID-19 pandemic.”

IDYA4 generated approximately US$4.4 million in revenues with earnings before interest, taxes, depreciation and amortization (“EBITDA”) margins exceeding 31% over the 12-month period ending December 31, 2020. Since announcing the binding agreement in December 2020, IDYA4 has launched a number of national programs and closed various new contracts that will generate US$1.5 million.

From IDYA4’s currently commercialized products, the Company expects IDYA4 to achieve an annual pro forma revenue growth rate greater than 45%, calculated based on expected revenue from currently committed and high probability contracts forecasted to generate annual gross revenue greater than US$6 million and US$8.5 million in calendar years 2021 and 2022, respectively. A total of 30 per cent of the total consideration for the acquisition amounting to $4.44-million (U.S.) is based on two performance-based earnouts, 15 per cent each, that are contingent on meeting these forecasted revenue targets.

Terms of Agreement
In consideration for the purchase of 100% of the issued and outstanding IDYA4 securities, CloudMD has paid US$14.8 million as follows: (i) US$3.7 million in cash, subject to a working capital adjustment; (ii) US$6.66 million in common shares of the Company; and (iii) a performance based earnout. See press release dated December 17, 2020 for full terms.

About IDYA4
IDYA4 is a health data integration and a data security company working to transform businesses through improved data management, security and integration, as well as protection against today’s ever-changing cyber threats. IDYA4 works to achieve the best possible outcomes for its clients while striving to build safer and healthier communities worldwide.
For more information visit
https://idya4.com/

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SaaS-based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and 8 million patient charts across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

CloudMD Announces Rapid Growth of Enterprise Health Solutions Division.

source
http://www.digitaljournal.com/pr/5010255

March 18, 2021

- Driving strong organic growth through cross-selling and integrated product offerings
- Identified over $500,000 in near-term operational synergies through the initial phase of integration
- Secured large corporate customer contract for new integrated health and wellness platform launching in April 2021
- CloudMD is one of a few companies in North America to provide one, centralized, whole-person solution for employers to better manage the health and wellness of employees
- Anticipated annual pro forma revenue growth rate of over 20% with healthy gross margins exceeding 50%.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, is pleased to provide an update on its Enterprise Health Solutions (“EHS”) Division. Since launching the EHS Division, CloudMD has seen significant organic growth and integration synergies across the platform.

Organic Growth
The EHS Division offers one of the first centralized and connected platforms of health and wellness solutions for employers as part of their benefits programs. These solutions include employee assistance programs, mental health support, physician/allied health services, professional referrals, personalized healthcare navigation, speciality drug consultation, health literacy and education and other services aimed at prevention and early intervention of health concerns.

CloudMD closed the majority of its EHS business acquisitions in January 2021 and since then, the Company has secured $5 million in new, multi-year customer contracts for mental and physical health solutions. These recurring revenue contracts include organizations of all sizes including large corporate clients like Medavie Blue Cross. Additionally, the EHS Division has identified operational synergies by centralizing marketing, technology and finance functions, enabling a shared services approach with annual cost savings exceeding $500,000. The EHS Division is executing on market share growth, margin expansion, cross-selling and integration of capabilities. The Company expects to continue driving additional profitable, organic growth across the entire division. CloudMD anticipates the continued growth of the EHS Division, with annual pro forma revenue growth rate of over 20% and healthy gross margins exceeding 50%.

Integrated Health Services Platform
In April 2021, the Company will be launching its EHS fully-integrated, proprietary health services platform with a large corporate customer, serving over 10,000 employees across Canada. Employees will be triaged and assessed using CloudMD clinical tools followed by appropriate service activation with navigation assistance to ensure the individual has the optimal outcome and continuity of care. Employers will have aggregate data to ensure the right benefit plans are being used for the right health issues. This transformational platform is revolutionizing the way employees access healthcare by providing one seamless patient experience, including personalized care plans, triage and navigation, and full support through their treatment journey. Organizations can use this platform to ensure inclusivity and diversity for mental and physical health issues. This approach provides better access to care, improved patient outcomes, faster access to treatment and improved return to work outcomes.

Scalability and Growth
CloudMD’s network includes over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, over 4,000 psychologists, over 22,000 family physicians, approximately 34,000 medical specialists, over 1,500 allied health professionals and a dedicated research team across North America. The size of this network, leveraged by technology, provides the foundation for scalability and growth across North America and globally.
Rising global health concerns surrounding mental and physical issues have created new needs for providing more efficient, integrated and accessible care options. Employers, insurers and advisors can entrust CloudMD’s integrated health services platform to provide employees with whole-person, personalized care through a complete portfolio of healthcare services that are required in supporting improved health and wellness. The omni-channel approach to navigation and activation of services can be accessed virtually through the web, mobile and telephone, ensuring appropriate care and optimized value.

Karen Adams, Global Head, EHS Division commented, “We are very excited with the performance and growth of the EHS Division since we launched in January 2021. The biggest challenge for payors is having to find multiple, siloed solutions to service their employee’s needs. Our EHS mission is to help businesses and individuals thrive by reducing the need of multiple employer benefits products, and instead create one seamless, connected platform. We have built one of the industry’s first employee benefits platforms that integrates assessment, triage, navigation, care advocacy, educational content, payments and provider connectivity. This solution supports all paths to physical and mental healthcare prevention and treatment while using social and environmental needs currently supported through traditional EAP as the anchor. We feel strongly that this centralized platform will enable deeper member engagement, support inclusivity and diversity and provide for more positive healthcare outcomes.”

In addition, CloudMD announces it has engaged Native Ads, Inc. to provide strategic digital media services, marketing, and data analytics services. The Company has agreed to pay Native Ads $300,000 in consideration for the Services to be provided. Native Ads will not receive any securities of the Company as compensation for the Services.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and 8 million patient charts across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD" Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

CloudMD Announces Closing of $8.2 Million Over-Allotment Option.

soure
https://finance.yahoo.com/news/cloudmd-announces-closing-8-2-140400411.html

Fri, March 12, 2021, 3:04 PM

CloudMD Software & Services Inc., a telemedicine company seeking to revolutionize the delivery of healthcare to patients, is pleased to announce that it has completed the sale of an additional 3,060,000 common shares of the Company at the price of $ Canada 2.70 per Share for aggregate gross proceeds to the Company of $8,262,000. The Shares were issued pursuant to the full exercise of the over-allotment option granted to Canaccord Genuity Corp., Beacon Securities Limited and Echelon Wealth Partners Inc. on behalf of a syndicate of underwriters including Laurentian Bank Securities Inc. and Mackie Research Capital Corporation in connection with the Company’s bought deal short form prospectus offerin.

The Company issued the Underwriters an additional 214,200 broker warrants. Each Broker Warrant is exercisable to acquire one common share of the Company at the exercise price of $2.70 per common share for a period of 24 months from the closing date of the Offering.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.
For more information visit:
https://investors.cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
Vice President, Investor Relations
Email: [e-mail]
investors.cloudmd.ca

[StockpickerCAPC]

CloudMD Announces Closing of $55 Million Bought Deal Financing.

source
http://www.digitaljournal.com/pr/4999693

March 09, 2021
CloudMD Software & Service, a telemedicine company seeking to revolutionize the delivery of healthcare to patients, is pleased to announce that it has closed its previously announced short form prospectus offering, on a bought deal basis. The Company issued a total of 18,500,000 common shares at the price of $2.70 per Share for aggregate gross proceeds to the Company of $49,950,000. The Offering was led by Canaccord Genuity Corp., Beacon Securities Limited and Echelon Wealth Partners Inc. on behalf of a syndicate of underwriters including Laurentian Bank Securities Inc. and Mackie Research Capital Corporation.

In addition, 1,900,000 Shares were purchased by the Underwriters from Essam Hamza and Kanchan Thindal at the Offering Price for aggregate gross proceeds to the Selling Shareholders of $5,130,000.

The Company issued the Underwriters an aggregate of 1,295,000 broker warrants. Each Broker Warrant is exercisable to acquire one common share of the Company at the exercise price of $2.70 per common share for a period of 24 months from the closing date of the Offering.

Essam Hamza, CEO of CloudMD commented, “I’m very proud of the team for closing another bought deal financing, which allows us to continue executing on our strategic M&A plan. CloudMD has seen significant growth over the last year and we remain committed to our vision of disrupting the delivery of healthcare, with a whole-person, patient-centric approach to care. Our focus remains on seamlessly integrating our platform of healthtech solutions to provide one, centralized product offering for our patients, providers and clients. We have seen some early successes on the integration which is already driving organic growth. Upon closing of the financing, we have strong balance sheet with approximately $100 million in cash, leaving us approximately $60 million following the closing of previously announced acquisitions. We are well-positioned to continue delivering growth while we actively review both organic and acquisitive growth opportunities. Thank you to our key stakeholders, syndicate partners and supportive shareholders for the confidence in our team and vision moving forward.”

CloudMD intends to use the proceeds of the Offering for strategic M&A activities.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America. For more information visit: investors.cloudmd.ca
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
Vice President, Investor Relations
Email: [e-mail]
investors.cloudmd.ca

[StockpickerCAPC]

Medavie Blue Cross partners with Medical Confidence to create new way to support Canadians on disability waiting for a specialist.

source
https://finance.yahoo.com/news/prodigy-technovations-announces-innovative-100baset1-060000829.html

Tue, March 2, 2021, 12:00 PM

Company partners with Medical Confidence, a CloudMD company, to provide plan members on disability with timely access to care and treatment.

Medavie Blue Cross
http://www.medaviebc.ca/
has partnered with Medical Confidence
https://www.medicalconfidence.com/about-us/
(part of CloudMD (TSXV: DOC)) to begin providing select plan members on disability with the opportunity to access MedExcellence
https://www.medicalconfidence.com/medexcellence/
– a personalized healthcare navigation service that can reduce the wait time to see a specialist.

Many Canadians experience long wait times to receive treatment from a specialist. From referral by a general practitioner to consultation and treatment by a specialist, the average wait time for Canadians in 2020 was 22.6 weeks.
https://www.fraserinstitute.org/sites/default/files/waiting-your-turn-2020.pdf
The pandemic, and the associated pressure placed on Canada's healthcare system, has caused these wait times to increase further.1

"From what we are seeing, Canadians may now need to wait even longer to get an appointment with a specialist," says Rebecca Smith, Director, Group Life and Disability Services, Medavie Blue Cross. "We are delighted to offer this opportunity to connect those on disability with a specialist sooner. We believe this will help many of our plan members in seeing the best possible health outcomes and potentially seeing a quicker recovery from their disability."

MedExcellence works in alignment with the Canada Health Act and provincial healthcare systems to get Canadians on disability, who are waiting for an appointment, earlier access to a specialist for their condition. Medical Confidence also works with eligible individuals to help them understand their health-related circumstance and become actively engaged in decisions regarding their treatment and recovery.

"The majority of Canadians do not know what to do or where to turn when faced with a serious medical condition," says Angela Johnson, President of Medical Confidence. "The ever-increasing wait times have become the norm, made worse by COVID-19's impact on our healthcare system We are delighted to be teaming up with Medavie Blue Cross. Through our innovative navigation platform, we will provide Medavie plan members a customized and caring approach to obtaining the right treatment at the right time. The result is reduced wait times and improved outcomes for patients and their physicians."

Benefits of MedExcellence:
https://www.medicalconfidence.com/medexcellence/
- The service leverages a national network of over 27,000 specialists.

- People who have used this service have been able to access a specialist 220 days sooner on average.

- Disability insurers who have used the program have seen a six-month reduction in duration of disability, on average.

- Improved employee satisfaction – reported by 75% of clients.

Medavie Blue Cross disability case managers will work with plan members on disability to access this service in appropriate circumstances based on referral criteria.

About Medavie Blue Cross
Medavie Blue Cross is a premier all-in-one carrier that provides health, dental, travel, life and disability benefits, and administers various federal and provincial government-sponsored health programs. Together with Medavie Health Services, we are part of Medavie, a health solutions partner committed to improving the wellbeing of Canadians.

We are one of Canada's Most Admired Corporate Cultures and recognized as an Imagine Canada Caring Company. As a not-for-profit organization, we are proud to commit an annual social dividend to the Medavie Health Foundation to support programs and initiatives aimed at addressing some of our country's most pressing physical and mental health care challenges.

About Medical Confidence
Medical Confidence is a pioneer healthcare navigation platform that reduces healthcare costs through achieving better health outcomes. Working in alignment with the Canadian Health Act, Medical Confidence removes the numerous causes for delay in our healthcare system to achieve optimal access to care. Leveraging its unmatched national network of over 27,000 specialists, it connects healthcare consumers to the care they need, sooner, leading to earlier recovery. Its health outcomes are measurable and demonstrate reductions in costs associated with absenteeism and presenteeism. Medical Confidence's corporate clients report that its services have reduced their absence costs by 20%.
For more information on Medical Confidence, visit:
https://www.medicalconfidence.com/

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.
For more information on CloudMD, visit:
https://cloudmd.ca/

[StockpickerCAPC]

CloudMD Signs Definitive Agreement to Acquire IDYA4, a North American Leader in Healthcare Data Integration and Cybersecurity.

source
http://www.digitaljournal.com/pr/4981188

Feb. 22, 2021

- Innovative, health data integration and security technology solution leveraging various information sharing standards supported by the U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services and currently in use by various Government agencies at the Federal, State and Local level.

- Solution is CloudMD’s technology backbone for combining its services and continued growth through implementing new technology applications, healthtech solutions and wearable devices.

- Immediately synergistic and accretive, with approximately US$4.4M revenue in 2020 with EBITDA margins of 31% with a strong revenue pipeline and growth opportunities.

- With IDYA4’s currently commercialized products, expected annual revenue growth rate is over 45%.

- Since announcing the binding agreement in December 2020, IDYA4 has launched a number of national programs and closed various new contracts that will generate US$1.5 Million.

CloudMD Software & Services Inc., a healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has signed a definitive agreement to acquire IDYA4, a leading health technology company focused on data interoperability and cybersecurity based in the United States. Since announcing the binding agreement in December 2020, IDYA4 has closed various new contracts and waiting task orders to be finalized for approximately $1.5Million (USD).

Focused on the health and wellness sector, IDYA4 has built a proprietary technology platform that provides improvements in data access, management, security and integration, as well as actively screening and protecting against today’s ever-changing cyber threats. Built on over 20 years of experience, the IDYA4 team has been at the forefront of the development of information sharing and interoperability solutions across all 50 states for clients including, the U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services, and National Intelligence.

IDYA4’s Real Time intervention platform (RTIP) is the technology backbone of CloudMD’s integration of its healthcare solutions providing one, digitally connected, patient focused platform. Initial stages of the integration are well underway, and the Company will be deploying the unified product offering to partners and enterprise clients within a few months. The combined technology will also be valuable as CloudMD continues to emphasize patient engagement through connected technology, healthcare portals, telehealth applications, and wearable devices.

Various RTIP modules have been operational for last 15 years in the health, human services, homeland security and Public safety to enable information sharing and interoperability. The same RTIP is now also operational in Bergen County, New Jersey to address the opioid overdose crisis. The RTIP platform is connecting public health, social services, and public safety systems to address the real time needs of the individuals who have overdosed or may be at risk. This effort is funded by the U.S. Department of Justice and a local Public Safety agency.

IDYA4 has also launched the First Responders
Health Wellness Network
https://www.prweb.com/releases/idya4_s_new_health_and_wellness_network_to_address_behavioral_health_challenges/prweb17593829.htm
to address the Behavioral Health issues including Substance Use Disorder among the First Responders (Law Enforcement, Fire and Emergency Management Services). The Health and Wellness Network will provide an end-to-end solution to the individuals who need help at any hour of the day. This network is developed on IDYA4’s RTIP allowing the individual to access the platform through their mobile device, desktop or laptop to check their health and wellness on a daily basis via this application developed by Behavioral Health experts. This program already includes CloudMD solutions, Snapclarity, Livecare and iMD and the company is in its initial phase of implementing a proof of concept that is supported by the Key Public Safety Associations and funded by the U.S. Department of Justice.

IDYA4’s team is now providing subject matter expertise to address the interoperability issues among the Public Safety and Public Health agencies across the U.S. to coordinate efforts in addressing National issues like COVID-19 and the opioid crisis. This key initiative is supported by the U.S Department of Homeland Security, State and Local Public Safety and Public Health agencies across the nation. IDYA4 has been engaged to provide advice to the US Federal agencies, State and local government, and National associations engaged in addressing the issues that North America faces around the opioid crisis. As part of this advisory, IDYA4 will be hosting multiple seminars to discuss how Public/Private leaders can come together to address the opioid crisis that American communities face.

CloudMD is fully committed to the privacy and security of patient data, and this integrated health data platform is both Health Insurance Portability and Accountability Act (HIPAA) compliant and is enabled for continuous monitoring to ensure the protection and privacy of sensitive data. The platform has been architected to support U.S. and International security standards like the National Institute of Standards and Technology (NIST) Cybersecurity Framework to address internal and external cyber threats.

IDYA4 generated approximately US$ 4.4 million in revenues with earnings before interest, taxes, depreciation and amortization (EBITDA) margins exceeding 31% over the 12 month period ending December 31, 2020. Upon closing, the acquisition of IDYA4 will be immediately accretive to CloudMD with synergies the Company believes will drive further revenue and increased EBITDA margin through cost savings achieved through the scaling of operations and by tapping into CloudMD's health technology solutions that will be added to IDYA4’s current product portfolio. From IDYA4’s currently commercialized products, the Company expects to achieve an annual revenue growth rate greater than 45%, calculated based on expected revenue from currently committed and/or high probability contracts forecasted to generate annual gross revenue greater than US$6M and US$8.5M in calendar years 2021 and 2022, respectively. A total of 30% of the total consideration for the acquisition amounting to US$4.44 million is based on two performance based earnouts, 15% each, that are contingent on meeting these forecasted revenue targets.

Terms of Agreement
In consideration for the purchase of 100% of the issued and outstanding IDYA4 Securities, CloudMD has agreed to pay aggregate consideration of US$14.8 million payable as follows: (i) US$ 3.7 million in cash, subject to a working capital adjustment; (ii) US$ 6.66 million in common shares of the Company; and (iii) a performance based earnout.
The acquisition is subject to customary closing conditions, including the receipt of TSX Venture Exchange approval.

About IDYA4
IDYA4 is a health data integration and a data security company working to transform businesses through improved data management, security and integration, as well as protection against today’s ever-changing cyber threats. IDYA4 works to achieve the best possible outcomes for its clients while striving to build safer and healthier communities worldwide.
For more information visit:
https://idya4.com/

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.
For more information visit:
https://cloudmd.ca/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

CloudMD Increases Previously Announced Bought Deal Public Offering to $55 Million.

source
https://finance.yahoo.com/news/trez-capital-senior-mortgage-investment-010000207.html

Wed, February 17, 2021, 4:50 PM

CloudMD Software & Services Inc. (TSXV: DOC) (OTCQB: DOCRF), a telemedicine company revolutionizing the delivery of healthcare to patients, is excited to announce that it has entered into an amendment (the "Amendment") to the previously announced engagement agreement with Canaccord Genuity Corp. Beacon Securities Limited and Echelon Wealth Partners Inc., on behalf of a syndicate of Underwriters. The Underwriters have agreed to increase the size of the previously announced bought deal financing. Pursuant to the Amendment, the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 20,400,000 common shares at a price of $2.70 per Share for aggregate gross proceeds of approximately $55 million. Of the aggregate 20,400,000 Shares being offered, 18,500,000 Shares will be issued from treasury by CloudMD for gross proceeds of approximately $50 million to the Company, and an aggregate of 1,900,000 Shares will be offered by Essam Hamza and Kanchan Thindal for aggregate gross proceeds to the Selling Shareholders of $5,130,000.

The Company has granted the Underwriter an option to purchase up to an additional 3,060,000 Shares at a price of $2.70 per Share, exercisable at any time, for a period of 30 days after and including the Closing Date, which would result in additional proceeds of $8.3 million.

The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on March 9, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange ("TSXV") and the applicable securities regulatory authorities.

The Company will use best efforts to obtain the necessary approvals to list the Shares on the TSXV.

CloudMD intends to use the net proceeds of the Offering for strategic M&A activities, working capital and general corporate purposes.

[StockpickerCAPC]

CloudMD Announces $45 Million Bought Deal Public Offering.

source
https://finance.yahoo.com/news/kraft-heinz-canada-announces-chief-153000329.html

Tue, February 16, 2021, 10:32 PM

CloudMD Software & Services Inc., a telemedicine company revolutionizing the delivery of healthcare to patients, is excited to announce that it has entered into an agreement with Canaccord Genuity Corp., Beacon Securities Limited and Echelon Wealth Partners Inc, on behalf of a syndicate of Underwriters. The Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 16,667,000 common shares at a price of $2.70 per Share for aggregate gross proceeds to the Company of approximately $45 million.

The Company has granted the Underwriter an option (the "Over-Allotment Option") to purchase up to an additional 2,500,050 Shares at a price of $2.70 per Share, exercisable at any time, for a period of 30 days after and including the Closing Date, which would result in additional proceeds of $6.8 million.

The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on March 9, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange ("TSXV") and the applicable securities regulatory authorities.

The Company will use best efforts to obtain the necessary approvals to list the Shares on the TSXV.

CloudMD intends to use the net proceeds of the Offering for strategic M&A activities, working capital and general corporate purposes.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America. For more information visit: investors.cloudmd.ca

ON BEHALF OF THE BOARD OF DIRECTORS
"Dr. Essam Hamza, MD"
Chief Executive Officer

[StockpickerCAPC]

CloudMD to Acquire VisionPros, a Rapidly Growing Digital Eyecare Platform with a Robust Suite of Digital Vision Care Tools.

source
http://www.digitaljournal.com/pr/4975297

VANCOUVER, British Columbia, Feb. 16, 2021

- VisionPros is headed by leading minds in the industry – including the pioneer of the first online vision test platform launched in the United States.

- VisionPros is a vertically integrated eyecare platform with almost 1 million unique customer accounts in North America.

- Unique subscription model with flexible monthly options; currently 18% of customer base on VisionPros.com subscribed and growing.

- Planned launch of innovative, best-in-class digital vision test technology embedded into e-commerce platform in 2021.

- Highly scalable business model, synergistic to CloudMD’s technology stack with significant cross-selling opportunities.

- Increases CloudMD’s annual revenue run rate to over $85 million.

CloudMD Software & Services Inc., a telehealth company revolutionizing the delivery of healthcare to patients, is excited to announce that it has signed a binding term sheet to acquire VisionPros, a vertically integrated digital eyewear platform that has serviced almost 1 million unique customers across North America.

VisionPros conveniently delivers contact lenses and glasses right to their customer’s door, anywhere in North America, at a fraction of the cost of traditional retail optical stores. The highly scalable business model includes a rapidly growing, high margin e-commerce platform, subscription business and innovative suite of digital vision care tools. VisionPros offers a unique subscription offering, with flexible monthly billing options, as well as some of the lowest prices in North America. The multi-disciplinary platform also includes a brick-and-mortar clinic, online/in-person dispensary and a lens laboratory that manufactures and distributes lenses to eyecare partners for their own affordable KIND eyewear line.

VisionPros was founded by Dr. Jessy Manhas and is led by a team of eye doctors committed to providing patient-focused vision care, and empowering practitioners through its disruptive tele-optometry technology. VisionPros’ CEO, Dr. Steven Lee, is a pioneer of the online vision tests in the market and developed the first online vision test platform which remains the current standard in North America. Subsequently, Dr. Lee developed, patented and is launching a new best-in-class, advanced technology that will deliver the safest online vision tests. This technology is designed to ensure a significantly higher level of accuracy and authentication of scripts. As part of VisionPros’ commitment to global eye health, the company has contributed to the Eyes for the World charity organization, founded by the principals of VisionPros and dedicated to restoring sight through glasses or surgery and to prevent blindness around the world. Amongst its contributions, Eyes for the World, has helped fund the construction and operation of two eye hospitals – one in India and one in Jamaica.

VisionPros’ digital platform shares many synergies with CloudMD’s existing platform and provides significant opportunities for cross-selling and integration. The e-commerce platform gives CloudMD direct access to almost 1 million unique customer accounts and further secures the Company’s footprint across North America. VisionPros’ revenue for calendar year 2020 surpassed $22 million with an adjusted earnings before interest, tax depreciation and amortization (“Adjusted EBITDA”) margin exceeding 10%.

Dr. Essam Hamza, CEO of CloudMD commented, “This is a significant acquisition for our business, which not only adds meaningful high margin revenue, but also provides us with an established e-commerce platform and almost 1 million customer accounts. VisionPros’ disruptive tele-optometry platform aligns with our vision of providing patient-focused, whole-person care and will allow us to leverage a number of our technologies and integrate our solutions into one seamless patient experience.”

Dr. Steven Lee, CEO of VisionPros commented, “We are extremely excited to partner with CloudMD and their physician led team. They share our commitment to providing a patient-centric approach that empowers physicians and engages patients. Our shared vision and combined resources are valuable for us as we look to undertake our aggressive growth strategy. There are obvious synergies across both health-tech platforms, and we look forward to leveraging those synergies to revolutionize the current system and build a North American leader in healthcare delivery.”

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of VisionPros, CloudMD has agreed to pay shareholders of VisionPros (i) $30 million in cash, subject to a working capital adjustment; (ii) $30 million in common shares of the Company at a deemed price by calculating the volume-weighted average trading price of the Company's common shares for the 10 trading days prior to the execution of the binding term sheet; and (iii) a performance-based earnout of up to $40 million, which is payable in cash or common shares of the Company, at the discretion of CloudMD at the time of the earn out. The common shares will be subject to certain contractual restrictions on trading for a period of 18 months from the date of issuance. Additionally, the Company will pay a 5% finder’s fee to an arm’s length party in accordance with TSX Venture Exchange policy.
The acquisition is subject to customary closing conditions, including the execution of a definitive acquisition agreement and receipt of TSX Venture Exchange approval.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.
For more information visit:
https://investors.cloudmd.ca/

About VisionPros
VisionPros is a Canadian-based online eyecare platform providing contact lenses and eyeglasses to customers across North America. The company sells contact lenses and glasses through a number of websites,
including:
https://www.visionpros.com/
and
https://www.contactlensescanada.com/

VisionPros offers customers all of the leading brands of contact lenses and has its own line of eyeglasses and sunglasses called KIND Eyewear. A doctor-led company, VisionPros has developed and will soon launch an innovative, disruptive online vision test that uniquely ensures the accuracy and authentication of scripts unseen before with current existing online vision tests. For over 10 years, VisionPros has donated funding, equipment and medical personnel to bring the gift of sight to people in need in underdeveloped countries. For more information on VisionPros,
please visit:
https://www.visionpros.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

CloudMD Closes Acquisition of West Mississauga Medical Clinic with 8 Family Doctors, 4 Specialists Serving Over 100,000 Patients.

source
http://www.digitaljournal.com/pr/4969382

Feb. 09, 2021

CloudMD Software & Services Inc., a telemedicine company revolutionizing the delivery of healthcare to patients, is pleased to announce that it has closed the previously announced acquisition to acquire a majority interest (51%) in West Mississauga Medical Ltd., a comprehensive family medicine and specialist medical clinic with 8 family doctors and 4 specialists serving over 100,000 patients.

West Mississauga Medical is a well-established medical clinic located on the border of Brampton, Mississauga and Milton in a high growth area. The clinic has served the community for over 16 years and remained open throughout the COVID-19 pandemic seeing patients via telemedicine and in-person. The acquisition is part of CloudMD’s national growth strategy which includes having well established brick and mortar clinic partners in major provinces. These clinics ultimately provide a strong, centralized patient base and footprint across the country. West Mississauga Medical will be integrated into the CloudMD EMR platform and its network of doctors and specialists will immediately start servicing CloudMD’s registered users and patients in Ontario.

Terms of Agreement
In consideration for the purchase of 51% of the outstanding securities of West Mississauga Medical, CloudMD has paid Shareholders aggregate consideration of C$200,000 payable as up to C$140,000 in cash and C$60,000 in shares of the Company. All shares issued pursuant to the acquisition are priced at the ten-day volume weighted trading price of the Company shares for the 10 trading days prior to the execution of the definitive agreement (see press release dated August 13, 2020).

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

Kinduct Technologies and iMD Health Global announce partnership to place credible health rehabilitation and wellness resources into the hands of therapists and patients across North America.

source
https://www.kinduct.com/news/imd-health-global-partnership/
Halifax, Nova Scotia - February 8, 2021

Kinduct Technologies (Kinduct) is pleased to announce an important partnership with iMD Health Global (a CloudMD Software & Services subsidiary) (iMD) – a software company focused on health education – to provide credible health rehabilitation and wellness educational resources, to their customers across North America.

“We are very excited to provide our industry leading 3D animated and live video’s of over 50 medical conditions to facilitate patient understanding and rehabilitation to be included on the iMD platform, giving therapists and their patients credible information about their condition and recovery journey,” said Dr. Travis McDonough, Kinduct’s Founder and President. “We’re thrilled that therapists and patients will now have greater access to our video content to educate them on their condition and potentially how they can actively participate in their rehabilitation as they travel along the road to recovery.”

“The internet is used over 1 Billion times per day to search for health information, with very little accuracy, and there is no way to understand what is trusted / correct information, causing a great deal of misunderstanding,” said Kevin Delano, CEO & President of iMD, citing the need for accurate, reliable health information, particularly given the shift towards digital health tools incited by the pandemic. “We are excited to collaborate with Kinduct to provide our Providers and their Patients with credible, high quality rehabilitation and wellness information in a time when it is crucial to be properly informed."

Through iMD’s resources, full of user-friendly and visually appealing information, customers will access to vetted resources they can turn to for questions around their health concerns and the proper rehabilitation techniques (such as stretches, exercises, dietary, etc.). They will be then able to make more informed and responsible decisions, which is at the heart of a recovery-oriented, patient-centred approach.

About Kinduct Technologies
Kinduct’s Human Performance Platform supports athletic, medical, and tactical organizations around the world. Our clients include professional and national sporting organizations, health authorities and associations, and military and special forces groups. Kinduct’s cloud-based solution consolidates human performance and injury data to improve workflow for thousands of coaches, doctors, and trainers, while helping optimize the health and performance of athletes, patients, and tactical personnel. Kinduct is also integrated with many world-leading wearables, assessment and data collection technologies, turning rich data into powerful insights. To learn more visit:
https://www.kinduct.com/
For more information, contact Hayden Landry, Vice President
[e-mail]

About iMD Health Global
iMD Health Global is a Toronto-based eHealth software development company, focused on innovating healthcare education. Since 2010, iMD has grown into Canada’s largest digital patient engagement platform. Centred “At The Point of Care”®, healthcare professionals use iMD’s cloud-based platform (in clinic or virtual consults) to engage with their patients at a deeper level and optimize knowledge transfer surrounding a patient’s condition and treatment plan. This is done through the seamless integration of over 80,000 images, booklets, and video resources, (covering 2,100 medical topics) into an award-winning user interface that makes patient education both efficient and effective. At the end of a patient’s consult, a summary of all the discussed information can be emailed to the patient to review and continue their learning journey at home, improving their health literacy and adherence to their treatment plan. The iMD platform is utilized by over 10,000 clinicians (doctor’s, nurses, therapists, and pharmacists) in clinics, hospitals, pharmacies, infusion clinics, and in homecare settings. For more information please visit:
https://www.imdhealth.com/
and
https://app.imdhealth.com
iMD Health is a subsidiary of CloudMD Software & Services (TSXV: DOC)
For more information, contact Jared Sonnenberg, Vice President
[e-mail]

About CloudMD Software & Services
CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) is a telehealth company revolutionizing the delivery of healthcare to patients. CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.
http://www.cloudmd.ca/

For more information, contact Julia Becker, VP Investor Relations
[e-mail]

[StockpickerCAPC]

The top five Canadian equity analysts of 2020 – and their most profitable picks.

source
https://www.theglobeandmail.com/investing/investment-ideas/article-the-5-top-performing-canadian-equity-analysts-and-their-stock-picks-2/

020 was a wild ride for the stock markets.
Against the backdrop of a global pandemic, the markets rallied to new highs, with the TSX rounding out the year at 17,433.40.

At the same time, TipRanks, a financial technology company, tracked the performance of financial analysts who published recommendations throughout 2020, including ratings for the Canadian stock market....



Doug Taylor, Canaccord Genuity
Claiming the second spot on TipRanks’ ranking is Canaccord Genuity analyst Doug Taylor.

After graduating from Wilfrid Laurier University, Mr. Taylor kicked off his career as an Equity Research Associate at Thomas Weisel Partners, and later joined the team at TD as an Equity Research Analyst. Then, in 2015, he came on as Managing Director and Equity Research Analyst at Canaccord Genuity, covering the healthcare IT sector for the firm.

Over the past year, Mr. Taylor’s recommendations, on average, notched returns of 31.5 per cent. Additionally, his success rate for 2020 comes in at 77 per cent.

Out of all his picks during the course of the year, his “buy” rating on CloudMD Software & Services Inc. (DOC-X), a healthcare services provider that operates through brick-and-mortar clinics and telemedicine as well as pharmacies, was the most profitable. From June 16 through Oct. 16, shares soared 337.1 per cent.

Commenting on the company’s mixed Q3 results, Mr. Taylor noted, “These results reflect only a portion of the asset base the company has assembled through recent M&A activity,” with many acquisitions being finalized after the quarter wrapped up.

Since the beginning of June, CloudMD has announced 10 acquisitions, with the total consideration landing at roughly $57-million, including all cash, shares and potential earnouts. What’s more, Mr. Taylor points out that it has $60-million in cash that it could put towards additional M&A, which could fuel upside to his estimates.

“DOC trades at 9.2 times 2021 EV/Sales but we note that this valuation could be lowered should the company continue to deploy capital on accretive M&A,” Mr. Taylor added.

All of the above prompted Mr. Taylor to maintain a “buy” rating as well as a $3.25 price target on the stock.

[StockpickerCAPC]

See the video to the News of today on Twitter.

at:
https://twitter.com/CloudMD_SS/status/1354807616103346181

Today is #BellLetsTalk and now more than ever #mentalhealth is extremely important. We are dedicated to supporting mental health & wellness and reducing the stigma surrounding these issues.

Lets stay connected and support one another!

[StockpickerCAPC]

A RESEARCH AND FOLLOW UP POST - By StockpickerCAPC

CDC Report Reveals “Considerably Elevated” Mental Health Toll from COVID-19 Stresses.

source
https://jamanetwork.com/channels/health-forum/fullarticle/2770050

More than 2 in 5 US residents report struggling with mental or behavioral health issues associated with the coronavirus disease 2019 (COVID-19) pandemic, including anxiety, depression, increased substance use, and suicidal thoughts, according to new findings from the Centers for Disease Control and Prevention.
Mental Health, Substance Use, and Suicidal Ideation During the COVID-19 Pandemic — United States, June 24–30, 2020.
https://www.cdc.gov/mmwr/volumes/69/wr/mm6932a1.htm

“Markedly elevated prevalences of reported adverse mental and behavioral health conditions associated with the COVID-19 pandemic highlight the broad impact of the pandemic and the need to prevent and treat these conditions,” the report noted.

The report, published in the August 14 issue of the Morbidity and Mortality Weekly Report, also notes that certain groups are disproportionately affected by COVID-19–related stresses, including younger adults, Black and Hispanic individuals, essential workers, unpaid caregivers for adults, and those receiving treatment for preexisting psychiatric conditions.

Two earlier? studies
Early Release of Selected Mental Health Estimates Based on Data from the January–June 2
https://www.cdc.gov/nchs/data/nhis/earlyrelease/ERmentalhealth-508.pdf

by CDC researchers had found a substantial increase in anxiety disorder and depressive disorder symptoms in the United States during April through June compared with the same time frame in 2019. To further assess mental health, substance use, and suicidal ideation during the coronavirus pandemic, researchers from the CDC and institutions in Boston, Massachusetts, and Melbourne, Australia, conducted representative panel surveys among US adults during late June.

Of 9896 eligible US adults 18 years or older invited to participate in the research, 5412 (approximately 55%) completed the web-based surveys during June 24 to 30. Overall, nearly 41% reported experiencing at least 1 adverse mental or behavioral health condition.

Nearly 31% reported symptoms of an anxiety or depressive disorder, 26% reported a trauma- or stressor-related disorder associated with the pandemic, and 13% said they had started or increased substance use “to cope with stress or emotions related to COVID-19.” Nearly 11% of respondents said they had seriously considered suicide in the preceding 30 days, more than twice the rate reported in a 2018 survey. - 82 Pages
Key Substance Use and Mental Health Indicators in the United States:
Results from the 2018 National Survey on Drug Use and Health
https://www.samhsa.gov/data/sites/default/files/cbhsq-reports/NSDUHNationalFindingsReport2018/NSDUHNationalFindingsReport2018.pdf

These symptoms and behaviors disproportionately affect certain groups. More than half of respondents agesd18 to 24 years (74.9%) or 25 to 44 years (51.9%) reported having at least 1 mental or behavioral health symptom, as did the majority of respondents who were Hispanic (52.1%), held less than a high school diploma (66.2%), were essential workers (54.0%) or unpaid caregivers for adults (66.6%), or were already receiving treatment for previously diagnosed anxiety (72.7%), depression (68.8%), or posttraumatic stress disorder (88.0%) at the time of the survey.

Certain groups also show a disproportionately high risk for suicide ideation. Those who had seriously considered suicide in the past 30 days included respondents aged 18 to 24 years (25.5%), Hispanic (18.6%) and Black (15.1%) respondents, individuals with less than a high school diploma (30.0%), essential workers (21.7%), and unpaid caregivers for adults (30.7%).

These same groups were also disproportionately more likely to start or increase substance use to cope with pandemic-related stress or emotions, including respondents aged 18 to 24 years (24.7%), Hispanic (21.9%) and Black respondents (18.4%), essential workers (24.7%), and unpaid caregivers for adults (32.9%).

The authors’ analysis of responses of 1497 individuals who had completed the survey, along with related surveys during April 2 to 8 and May 5 to 12, revealed a particularly high burden of distress among unpaid caregivers for adults. Compared with others, they were significantly more likely in June than in May to start or increase substance use and to report seriously considering suicide.

The report noted that many unpaid caregivers of adults are currently providing “critical aid to persons at increased risk for severe illness from COVID-19” and that approximately 39% of these caregivers (compared with 27% of other survey respondents) shared a household with children. “Caregiver workload, especially in multigenerational caregivers, should be considered for future assessment of mental health, given the findings of this report and hardships potentially faced by caregivers,” the authors added.

To address mental health disparities and prepare support systems to lessen adverse mental health consequences as the pandemic evolves, the researchers urge provision of social support, comprehensive treatment options, and harm reduction services to address substance use related to COVID-19 stresses. They also note that expanded use of telehealth to deliver treatment for mental health conditions might help reduce COVID-19–related mental health consequences.

Community-level efforts to promote health services and communicate culturally and linguistically tailored messages about practices to improve emotional well-being also “should prioritize young adults, racial/ethnic minorities, essential workers, and unpaid adult caregivers,” they said.

According to the Commonwealth Fund’s
2020 Commonwealth International Health Survey
Do Americans Face Greater Mental Health and Economic Consequences from COVID-19? Comparing the U.S. with Other High-Income Countries
https://www.commonwealthfund.org/publications/issue-briefs/2020/aug/americans-mental-health-and-economic-consequences-COVID19

of more than 8000 adults from March 30 to May 25, 2020, US adults were shouldering
a heavier mental health burden
COVID-19 Mental, Economic Stresses Worse for US Public than for Those in Other Wealthy Countries.
https://jamanetwork.com/channels/health-forum/fullarticle/2769483?resultClick=1

from COVID-19–related stresses, such as social isolation and greater economic challenges, compared with their counterparts in other high-income countries.

[StockpickerCAPC]

CloudMD Launches Mental Health Technology Platform and Support Services in the United States.

source
http://www.digitaljournal.com/pr/4968106

VANCOUVER, British Columbia, Feb. 09, 2021

- Proprietary technology platform immediately available for corporations and providers across all 50 states in the U.S. to better manage the health and wellbeing of their employees

- Expands established U.S. footprint to include physical care and mental health support

- More than 2 in 5 residents in the U.S. report struggling with mental or behavioral health issues associated with COVID-19 pandemic, including anxiety, depression, increased substance use, and suicidal thoughts

- Integral step in CloudMD’s North American expansion strategy to integrate solutions to provide one, centralized healthcare platform to provide seamless, whole-person care to patients

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a healthcare technology company revolutionizing the delivery of care to patients, is excited to announce that it has expanded its mental health services into the United States. Snapclarity Inc. (“Snapclarity”), CloudMD’s mental health solution is now available for providers and corporations (B2B) in the United States through its proprietary technology app, providing individuals with direct access to clinical assessments that: support risk and diagnosis, provide an immediate connection to care that allows individuals to self-manage, create responsive coping mechanisms and control symptoms through the delivery of personalized therapeutic support.

There is an immediate demand for mental health services in North America. According to the Centers for Disease Control and Prevention, more than 2 in 5 residents in the U.S. report struggling with mental or behavioral health issues associated with COVID-19 pandemic, including anxiety, depression, increased substance use, and suicidal thoughts.

Combined with iMD Global Health which is already available in the U.S., CloudMD’s mental health services provide support around various mental health issues, personalized care pathways and valuable educational resources for corporations and insurers to provide better access to care and improved, holistic treatment options to manage the health and wellbeing of their employees and family members. The platform is currently utilized by employers, individuals, therapists and insurers and offers a continuity of care program that effectively blends the supported intervention with technology, artificial intelligence and human touch. This is accomplished through a suite of proprietary digital tools that are designed by clinicians and grounded in evidence-based practices that are proven to positively impact outcomes.

CloudMD’s Employee Assistance Program provider, HumanaCare Inc. (“HumanaCare”), also has an existing client base in the U.S. and by integrating Snapclarity’s software into the platform, HumanaCare will improve the current client offering, and will continue to expand its enterprise footprint with this integrated, whole-person solution.

CloudMD already has a significant footprint in the U.S. including Benchmark Systems, which offers revenue cycle management/billing solutions, practice management and electronic medical records software, and services 200 clients, 800 physicians, across 5.5 million patient charts in 35 states. Further, the Company acquired IDYA4, as its technology enabler for future digital transformation and interoperability in the healthcare space. Currently IDYA4’s data platform is used at federal and state levels in partnership with the Department of Justice, Homeland Security and Health and Human Services to name a few. CloudMD remains focused on its U.S. expansion and rolling out its mental health services to its current footprint as well as new enterprise clients is an important next step in that strategy.

CloudMD has grown its network of medical professionals which now includes: 7,000 psychiatrists, over 4,500 therapists and counsellors, over 4,000 psychologists, over 22,000 family physicians, 34,000 medical specialists, over 1,500 allied health professionals and a dedicated research team across North America. This extensive network is the foundation for CloudMD to scale and grow its healthcare platform quickly and efficiently.

Amit Mathur, President of CloudMD commented, “We have an aggressive multi-pronged North American expansion plan that includes both physical and mental health services. We recognize the significant opportunity and need for mental health support in the United States and now we can support corporations and providers to better manage the mental health needs of the workforce. With our local expertise and infrastructure in place, we expect to see significant growth in the U.S. as we continue with the integration of our solutions.”

About Snapclarity
Snapclarity is a pioneer, on-demand, digital platform that provides an assessment for mental health disorders which includes a personalized care plan, access to online resources, a clinical health care team and the ability to match to the right therapists. To learn more about Snapclarity visit:
www.snapclarity.com
and to download the individual app please visit the Apple Store and/or the Google Play Store. For more corporations and insurers needing more information on the suite of services please contact:
[e-mail].

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America. For more information on CloudMD visit
www.cloudmd.ca.

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[GorillaDaddy]

Getting ready for LIFT OFF

[GorillaDaddy]

Looking like we’re getting ready for more sideways then up!!!

[StockpickerCAPC]

CloudMD to Drive North American Clinic Expansion with Seasoned Leadership.

source
http://www.digitaljournal.com/pr/4955438

VANCOUVER, British Columbia, Jan. 28, 2021

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company seeking to revolutionize the delivery of healthcare to its patients, is excited to announce that it has appointed a new VP, Clinic Operations to integrate and lead its current network of clinics and continue driving expansion across every province of Canada and strategically in the United States.

Kristine Heckman is joining CloudMD as VP Clinic Operations and is the latest addition to the Company’s management team. Kristine brings over 20 years of industry experience, most recently as VP, Clinic Operations with Lifemark Health, a national rehabilitation company with over 200 locations across Canada. In her role with Lifemark Health, she was responsible for managing and leading the operations and financial performance of their multidisciplinary clinic network across British Columbia. Kristine was also responsible for supporting growth and expansion through M&A activities and integrating new clinics into Lifemark Health’s existing network. She was accountable for establishing and adhering to best practice quality of care standards and customer satisfaction as well as executing new corporate initiatives to ensure execution of standard operating procedures.

CloudMD’s mission is to deliver patient centric, whole-person healthcare and the Company is committed to providing longitudinal support to its patients. CloudMD’s current clinic network includes 14 clinics, 95 practitioners servicing over 500,000 patients. The Company is focused on expanding a hybrid (in-person and virtual) clinic network in every province across Canada and strategically in the United States to enable patients to consult with a doctor, specialist or therapist when and where they need it. Kristine will be responsible for leading the integration, operations and financial performance of CloudMD’s strategic growth of its business operations and will assist management and corporate development leadership identify clinic partners that align with CloudMD’s mission and vision for patient care and growth. She will also take the lead and drive the integration of best practices and quality of care within the network.

Essam Hamza, CEO of CloudMD commented, “We are delighted to welcome Kristine to our leadership team as VP, Clinic Operations. With over 20 years’ experience with companies like Lifemark and Centric Health, she is a well-regarded industry leader and will be a valuable part of our operations team as we continue to focus on our clinic expansion strategy. CloudMD has achieved significant growth in a very short amount of time, and as we continue to establish the foundation to expand the business, Kristine will be a key leadership pillar for our clinical division.”

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[GorillaDaddy]

Ignore — got distracted — thanks

[GorillaDaddy]

What is this?

[StockpickerCAPC]

https://www.rxinfinity.ca/

Caring is our specialty. - We think and act differently.

With a deep commitment to patient centric care, our nurses, pharmacists and patient care coordinators elevate and improve the patient journey and the healthcare provider experience.

Let’s talk

Head Office
Unit 29-5155 Spectrum Way
Mississauga, Ontario L4W 5A1

Questions?
[e-mail]

Contact?
P: 1-844-621-CARE (2273)
F: 1-844-631-CARE (2273)

[StockpickerCAPC]

CloudMD to Acquire Rxi Group of Companies, an Established One-Stop Patient Support Logistics Company and Leading Customer Relationship Management Technology Provider.

source
https://finance.yahoo.com/news/cloudmd-acquire-rxi-group-companies-123000751.html

CloudMD Software & Services Inc.- Tue, January 26, 2021, 1:30 PM

Adds $16.6 million in revenue and increases CloudMD’s current annualized run-rate to over $60 million.
Rxi’s pharmaceutical logistic services include drug distribution, patient navigation assistance, a preferred network of over 500 pharmacies and real-time universal disease management software.

Rxi oversees several national and provincial patient support programs and provides administrative and drug benefit management services to a large third-party benefits provider.

Proprietary Customer Relationship Management (CRM) technology that is sector agnostic and that can be white-labelled.

CloudMD’s acquisition of Rxi supports two key objectives: 1) Enhances specialty health services to patients, providers, payers and manufacturers and 2) expands both the suite of offering for enterprise clients and the potential to cross sell existing services to new enterprise clients.

VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company revolutionizing the delivery of healthcare to patients, is excited to announce that it has signed a binding term sheet (“Term Sheet”) to acquire Rx Infinity Inc., Rxi Pharmacy Inc., and Rxi Health Solutions Inc., (collectively “Rxi”), enhancing its specialty health services to patients, providers, payers and manufacturers in Canada.

Rxi’s pharmaceutical logistic services include drug distribution, patient navigation assistance, a preferred pharmacy network of over 500 pharmacies and real time universal disease management software. Historically, patient support programs have been geared towards improving product access and outcomes rather than holistic disease management and linkage to care and clinical interventions that ensure proper medication adherence and better overall health outcomes. As a proven solution to the currently siloed healthcare system, Rxi’s combined offerings provide a one-stop solution and centralized platform that breaks down treatment barriers by offering a team-based, real time, longitudinal approach to patient care and disease management. Rxi oversees several national and provincial patient support programs, specializing in Oncology, Infectious Diseases and Inflammatory Bowel Disease (IBD). The company also provides administrative and drug benefit management services to a large third-party benefits provider, servicing more than 300,000 patients across Canada. Rxi is also licensed as a National Wholesaler (GMP certified), approved by Health Canada.

(My StockpickerCAPC comment: "YEAH")

Speciality drugs are defined as high-cost prescription medications used to treat complex, chronic conditions. In Canada, less than 1% of claimants accounted for 30% of total eligible costs in 2019 and specialty drugs are forecast to account for almost 46% of the average monthly certificate cost by 2025(1). Often times these drugs are very costly, difficult to access and challenging to navigate for patients, physicians, and pharmaceutical companies, leading to suboptimal outcomes across all therapeutic areas. Rxi’s platform focuses on user experience and personalizes patients' complete healthcare journeys.

The acquisition of Rxi will be synergistic across CloudMD’s platform of healthcare technology solutions and will be integrated with its electronic medical records (“EMR”) software, educational resources, healthcare navigation and enterprise health services. The addition of Rxi will expand CloudMD’s pharmacy offering and distribution and fulfillment channel across Canada. CloudMD will have access to Rxi’s network of 500 independent pharmacies to provide better, more localized, access to care.

Rxi was founded by CEO, Christian Marcoux, who has over 20 years’ experience within the specialty drug industry and has effectively launched and managed dozens of national patient support programs across Canada in various therapeutic areas. Previous to starting Rxi, Christian spent almost 13 years at Shoppers Drug Mart as part of the senior management team leading the Speciality Health Network.

Rxi's annualized revenue for calendar year 2020 is approximately $16.6 million with earnings before interest, taxes, depreciation and amortization (“EBITDA”) of approximately $600,000(2). Rxi generates revenue through (1) wholesale and dispensary services, (2) licensing for its proprietary technology and (3) pharmacy partnerships. Upon closing, the acquisition of Rxi will be immediately accretive to CloudMD with synergies the company believes will drive further revenue and increased EBITDA margins through cross-selling and integration across its portfolio of healthcare technology solutions.

Dr. Essam Hamza, CEO of CloudMD commented, “The acquisition of Rxi is transformational for CloudMD and aligns with our vision and focus of providing holistic, patient focused care. It will be immediately accretive to our top line while adding new revenue streams and driving value and growth across many verticals of our business. Their revolutionary disease management software can be integrated into many of our healthtech solutions including our EMR platforms, IMD’s patient education platform, enterprise health services and pharmacy and clinic networks. It also provides a comprehensive platform to better care for complex and chronic care patients and gives us the ability to distribute and fulfill prescription drugs nationally. We welcome Christian and his team to the CloudMD family and look forward to working with them to continue unlocking value.”

Christian Marcoux, Chief Executive Officer of Rxi commented, “CloudMD’s acquisition of Rxi represents a transformational shift in the evolution and delivery of highly specialized patient support programs. Rxi will be able to optimize and cross-sell into CloudMD’s current client network by offering manufacturers and payers more comprehensive solutions and real-time visibility into the patient journey, something that has been lacking in our industry for well over a decade. CloudMD’s telemedicine expertise combined with Rxi’s universal disease management experience and customizable software will significantly improve communication and transparency across multi-disciplinary stakeholder groups; thus, enabling quicker access to treatments and improved clinical treatment outcomes.”

Terms of Acquisition
In consideration for the purchase of 100% of the outstanding securities of Rxi, CloudMD has agreed to pay shareholders of Rxi aggregate consideration of $9.5 million payable as follows: (i) $2.5 million in cash, subject to a working capital adjustment; (ii) $4 million in common shares of the Company; and (iii) a performance-based earnout of $3 million, which is payable in common shares of the Company in equal annual issuances over a period of two years. All common shares issued pursuant to the acquisition will be issued at a deemed price of $2.39 per common share and are priced by calculating the 10-day volume-weighted average trading price of the Company's common shares for the 10 trading days prior to the execution of the binding term sheet. The common shares will be subject to certain contractual restrictions on trading for a period of 20 months from the date of issuance.

The acquisition is subject to customary closing conditions, including the execution of a definitive acquisition agreement and receipt of TSX Venture Exchange approval.

(1) https://plus.telushealth.co/blogs/health-benefits/wp-content/uploads/AST2986-Drug-Trends-Report-July-2020-EN-V6.pdf

(2) Annualized revenue figures are calculated based on annualizing the available results for the 11-month period ending Nov. 30, 2020.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America. For more information visit: investors.cloudmd.ca

About Rxi
Rxi is a Canadian based specialty drug wholesaler, pharmacy and technology/patient support program administrator. The company develops customized programs for a variety of clients that offer end-to-end solutions to optimize holistic disease management and clinical treatment outcomes for patients requiring complex and expensive pharmaceutical treatments. For more information visit: www.rxinfinity.ca


ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]

[StockpickerCAPC]

Outlook

source
https://www.streetinsider.com/Globe+Newswire/CloudMD+Reports+Record+Revenue+of+%243.4+Million+in+Q3+2020/17662795.html

The Company is focused on revolutionizing the healthcare industry by leveraging technology to digitalize its delivery to provide both better access to care which leads to better health outcomes. CloudMD has a strong balance sheet with approximately $60 million in cash, which will allow it to continue deploying capital on a robust pipeline of accretive, synergistic acquisitions. Subsequent to the quarter, the Company completed five strategic acquisitions which enhances its portfolio of SaaS model digital services and clinic services offering. The Company also announced another four acquisitions, primarily focused on its newly created Enterprise Health Solutions Division, which are expected to close by December 31, 2020.

CloudMD’s organic growth will be largely driven by its network of hybrid clinics, pharmacy partnerships, SaaS solutions and enterprise partnerships. Through its recent acquisitions, there are opportunities for cross-functional synergies and cross selling that will drive further organic growth.

With our Q3 2020 financial performance, combined with organic growth, and completed and announced acquisitions, CloudMD is on track to achieve (i) annualized revenue run rate exceeding $35 million, (ii) gross margin exceeding 50%, and (iii) improved Adjusted EBITDA performance.

CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through accretive acquisitions, strategic capital allocation and continuing to achieve organic growth across all divisions.

[StockpickerCAPC]

CloudMD Closes Acquisition of Canadian Medical Directory, the Largest Medical Directory in Canada.

source
https://finance.yahoo.com/news/cloudmd-closes-acquisition-canadian-medical-123000970.html

CloudMD Software & Services Inc. - Fri, January 22, 2021, 1:30 PM

Largest directory of trusted, highly-segmented information on 91,000 practicing physicians and 10,000 residents and nurse practitioners.

VANCOUVER, British Columbia, Jan. 22, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company revolutionizing the delivery of healthcare to patients, is pleased to announce that it has closed the previously announced acquisition of Canadian Medical Directory (“CMD”), Canada’s largest, most trusted, directory of medical professionals including 91,000 practicing physicians and 10,000 residents and nurse practitioners across the country. The robust, multi-layered database is genuinely unique as no other direct competitor has a SaaS platform that collects and vends the data in such a highly segmented, up-to-date way.

CMD has been trusted as the gold standard for up-to-date information on all medical professionals across Canada in a standard national format. CMD is Canada’s leading source for profile and contact information on practicing physicians, specialists and nurse practitioners, across the country. It’s a key reference tool used by clinics, hospitals, medical placement firms, pharmaceutical companies, and manufacturers and distributors of medical equipment and supplies.

CloudMD will be able to integrate the CMD database into its Juno EMR, billing, virtual care and telehealth platforms, as well as iMD Health’s leading educational resource databank. CloudMD will leverage the CMD brand, customer network and data, to power up and accelerate doctor acquisition and adoption. In addition, CloudMD will use its suite of products and resources to continue building and growing CMD’s robust database.

CMD generated approximately $450,000 in high margin, 100% SaaS based revenues with earnings before interest, taxes, depreciation and amortization (EBITDA) margins exceeding 65%, resulting in an EBITDA of approximately $293,000 over the 12 month period ending September 30, 2020. The Company believes that there is significant opportunity to further optimize the revenue through integration and optimization.

Terms of Agreement
In consideration for the purchase of 100% of the assets and business of CMD, CloudMD has agreed to pay aggregate consideration of approximately $2.037 million payable as follows: (i) $250,000 in cash; (ii) approximately $1.42 million in shares of the Company; and (iii) a performance-based earnout of $368,000, which is payable in shares of the Company in annual issuances over a period of two years. All shares issued pursuant to the acquisition are issued at a deemed price of $2.47 per share and are priced by calculating the 10-day volume-weighted average trading price of the Company's shares for the 10 trading days prior to the execution of the binding term sheet (Press release dated October 21, 2020). The shares will be subject to certain contractual restrictions on trading for a period of 16 months from the date of issuance.

About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.

ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
[e-mail]