Wow, what a ride this has been with CloudMD, is it possible that this is the jewel we’re all looking for, CloudMD has acquired Toronto Based imdhealth for 10 million but here’s the important details.
CloudMD is sitting on 30 million cash and has recently broke even and heading into profits according to Dr Hamza CEO of CloudMD and just pay attention to this deal.
10 million purchase of imdhealth
1 500 000 $ cash
4 500 000 in shares
4 000 000 performance based earnouts which is payable in shares of the company in annual issuance over the course of two years.
The Toronto based imdhealth has partnerships with multiple pharmaceutical companies and is backed by one of Canada’s largest pharmaceuticals with over 2 billion in sales which has 18% equity in imdhealth, imdhealth also has licensing partnerships with Canada’s most respected health associations.
What does this to for CloudMD, well it immediately generates over 1.2 million in revenue and combining the imdhealth platform to CloudMD’s Juno thus creating a leading industry platform to empower the companies ability to access multiple services for patients on one platform and is one of the only solutions in the industry for healthcare professionals to access to additional resources.
This just backs Dr Hamza’s vision to grow this company globally and quoted as saying:
“The two companies instantly found common ground with our shared vision of providing a holistic, patient focused approach to healthcare. Combining both platforms is immediately synergistic across every aspect of both our businesses as it allows us to layer on additional educational resources for our doctors, allied health professionals and patients and for us to cross sell services to their clients and patients. These resources empower patients to finally participate in their own health and wellness which studies have repeatedly shown results in better outcomes, and in turn lowers healthcare costs for governments and corporations around the world. The addition of iMD further realizes our strategy of whole person healthcare delivery and will be an extremely valuable piece of our global growth plans,” said Essam Hamza, CEO of CloudMD.
To add to this which is highly important is growth of the industry, please read this hyperlinked article as its another piece of the puzzle for any potential investor:
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