CLOUDMD SOFTWARE & SVCS - DOCRF STOCK NEWS

CloudMD Software & Services reported a record revenue of $39.2 million for Q3 2021, marking a 150% increase from Q2 2021 and a 1066% rise from Q3 2020. Adjusted EBITDA turned positive at $0.8 million compared to a loss in prior quarters. The revenue surge is attributed to successful acquisitions, with a gross margin of 34%. Client engagement grew with 560,000 individuals on its health platform, yielding a Net Promoter Score of 80. The company anticipates continued growth with the upcoming acquisition of MindBeacon, projected to enhance services and efficiencies.

CloudMD Software & Services is acquiring MindBeacon Holdings for approximately $116 million. This strategic move aims to create one of North America's leading integrated health platforms, enhancing access to mental and physical care. The deal includes $4.78 per MindBeacon share, reflecting a 49% premium based on recent trading. The combined entity is projected to have annualized revenues of about $185 million and a gross margin of 35%. The acquisition positions CloudMD for aggressive U.S. expansion and adds significant synergies with a network of over 5 million lives covered.

CloudMD Software & Services, a healthcare technology company, announced its participation in two key investment conferences. Dr. Essam Hamza, the CEO, will present virtually at the Canaccord Genuity 3rd Annual Health & Wellness Conference on November 16, 2021, at 10am ET. Additionally, he and President Karen Adams will engage in a fireside chat at the Stephens Annual Investment Conference in Nashville, TN, on December 3, 2021, at 8am CT. CloudMD focuses on transforming healthcare through a patient-centric technology platform, providing extensive services, including telemedicine and mental health support.

CloudMD Software & Services announced the outcomes of its annual general and special meeting held on November 9, 2021. Shareholders approved all proposals, including the election of new directors Duncan Hannay and Karen Adams, the appointment of KPMG as auditors, and the approval of the Restricted Share Unit Plan and Stock Option Plan. The company focuses on healthcare technology, aiming to transform care delivery with a patient-centric approach, utilizing a connected platform to enhance access and outcomes for over 22,000 family physicians and 34,000 specialists across North America.

CloudMD Software & Services has reported preliminary Q3 2021 revenue estimates between $38 million and $40 million, marking the first quarter to fully incorporate results from its recent acquisitions. The company’s annualized revenue run rate has increased from $140 million to over $155 million, indicating strong organic growth. Adjusted EBITDA for the quarter is positive. CloudMD will announce detailed financial results on November 29, 2021, and plans to hold an earnings call to discuss operational highlights.

CloudMD Software & Services (OTC: DOCRF) has expanded its partnership with Apotex to provide the IMD Health digital education platform in Latin America, enhancing access to healthcare resources for doctors and patients in Mexico, Costa Rica, Panama, and Nicaragua. The IMD platform features over 5,600 medical topics with 110,000 resources in various formats, customized for healthcare professionals and patients. This initiative aligns with Apotex's 25-year commitment to improving health in the region, aiming to deliver trusted health information and educational resources.

CloudMD Software & Services has received U.S. Patent Approval for its Real Time Intervention Platform (RTIP), vital for its healthcare technology. This platform ensures data integration and real-time analytics across various healthcare services. Already trusted by agencies like the U.S. Department of Justice, CloudMD is positioned well, having onboarded over 260,000 users with strong outcomes, including a 78% net promoter score. Additionally, CloudMD has secured a six-year contract with Nebraska to modernize health systems, enhancing its growth strategy across North America.

CloudMD has launched enhanced health and wellness coaching services within its integrated health platform, achieving a net promoter score of 78% from over a quarter million users in just six months. The platform demonstrates significant effectiveness, with 88% of users showing symptom improvement. Employers benefit from real-time analytics and an interactive dashboard for improved decision-making. Additionally, the company has engaged Native Ads for CAD$150,000 and Grit Capital for US$100,000 for marketing services, reinforcing its commitment to driving health outcomes.

CloudMD Software & Services has implemented an advance notice policy to streamline the nomination process for its Board of Directors. This policy is designed to provide shareholders with adequate notice and information about director nominees, facilitating informed voting. Nominations must be submitted 30 to 65 days prior to annual meetings, and within specific deadlines for special meetings. The policy was approved on July 7, 2021, and will require shareholder ratification at the next annual meeting. For further details, the policy is available on the company's profile at SEDAR.