CLOUDMD SOFTWARE & SVCS - DOCRF STOCK NEWS

CloudMD Software & Services has announced the nomination of two new experienced leaders to its Board of Directors ahead of the 2021 annual general meeting on November 9, 2021. The nominees, Duncan Hannay and Karen Adams, bring extensive experience across technology and healthcare sectors, which is expected to enhance the company's leadership. Additionally, the firm has appointed KPMG as its new auditors, replacing Harbourside. CloudMD continues to innovate in the healthcare space, boasting a broad network of healthcare professionals across North America.

CloudMD Software & Services announced a record Q2 2021 revenue of $15.7 million, marking a 461% increase from Q2 2020. The company completed acquisitions of Aspiria, Rxi, VisionPros, and Oncidium, adding $96 million in annual revenue. The Complete Health Platform is gaining traction with over 260,000 new employees, projecting an annualized revenue run rate exceeding $140 million. Despite a net loss of $6.2 million, CloudMD anticipates strong financial growth driven by its healthcare ecosystem.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF) will report its Q2 2021 financial results on August 25, 2021, post-market close. An earnings conference call will be held the same day at 2:00 PM Pacific Time, where management will discuss operational highlights and financial results. Attendees can ask questions via dial-in only. CloudMD focuses on revolutionizing healthcare delivery through technology, serving over 5 million individuals across North America and providing a connected platform that enhances access to care.

CloudMD Software & Services announced its participation in the Canaccord Genuity 41st Annual Growth Conference from August 10 to 12, 2021, with Dr. Essam Hamza, CEO, presenting on August 11 at 5:00pm ET. The conference will be held virtually. CloudMD focuses on digitizing healthcare delivery, providing a connected platform that enhances patient care, including telemedicine and mental health support. With over 5 million individuals served and a network of healthcare professionals, CloudMD aims to improve access and outcomes in North America.

CloudMD Software & Services has successfully completed the acquisition of Oncidium, a top Canadian healthcare provider, enhancing its Enterprise Health Solutions Division. This strategic move increases CloudMD's annualized revenue run rate to approximately $140 million, with Oncidium contributing $54 million. The deal, valued at $68 million, includes cash and shares and is funded through credit facilities of up to $62 million. This acquisition aims to expand CloudMD's market presence, providing integrated health management services that meet the growing demands of employers for workplace health solutions.

CloudMD Software & Services has successfully completed its acquisition of VisionPros, a digital eyewear platform. The total purchase price is $60 million, consisting of $30 million in cash and $30 million in common shares, with potential additional earnouts up to $40 million based on performance. VisionPros generated over $22 million in revenue and over 10% Adjusted EBITDA margin in 2020. This acquisition enhances CloudMD’s market reach, providing access to nearly 1 million customers across North America, while integrating its digital health platform with VisionPros’ e-commerce capabilities.

CloudMD Software & Services Inc. (DOCRF) announced key leadership appointments and an acquisition to enhance growth. Karen Adams has been named President to lead growth initiatives, while Dr. Amit Mathur becomes President, US Operations, focusing on expansion into the U.S. market. The acquisition of Oncidium adds a significant revenue boost of $17 million, enhancing CloudMD’s service offerings in independent medical evaluations. These strategic moves aim to strengthen the company's healthcare technology services and operational effectiveness.

CloudMD Software & Services reported Q1 2021 revenue of $8.8 million, marking a 187% increase from Q1 2020 and a 51% increase from Q4 2020. The gross margin stood at 41%, driven by a favorable revenue mix. The company closed 5 acquisitions in Q1, adding $13 million in annualized revenue and projecting a revenue run rate exceeding $120 million. Despite a net loss of $5.3 million, CloudMD expects to achieve positive Adjusted EBITDA in the second half of 2021, supported by strong cash reserves of $95 million.

CloudMD Software & Services Inc. (OTCQB: DOCRF) will release its Q1 2021 financial results on May 27, 2021, after market close. An earnings call will also be held on the same day at 2:00 pm PT / 5:00 pm ET to discuss the results and operational highlights. CloudMD focuses on digitizing healthcare delivery with a patient-centric approach, servicing over 5 million individuals and a vast network of healthcare professionals across North America. Its unique platform integrates various healthcare services, including telemedicine and mental health support.