CLOUDMD SOFTWARE & SVCS - DOCRF STOCK NEWS

CloudMD Software & Services reported Q4 2020 revenue of $5.8 million, reflecting a 138% increase year-over-year. The company's gross margin stood at 40%. With a cash position of approximately $100 million, CloudMD's Enterprise Health Solutions Division has a revenue run rate of $53 million and expects to exceed $120 million in annualized revenue for 2021. Despite completing five acquisitions in Q4, the company recorded a net loss of $5.2 million. CloudMD anticipates being Adjusted EBITDA-positive by Q3 2021, driven by strong organic growth and an expanding market presence.

CloudMD Software & Services Inc. (OTCQB: DOCRF) announced its participation in two major investor conferences. At the Laurentian Bank Securities Annual Institutional Investor Conference on April 8, 2021, Dr. Essam Hamza will join a panel discussing Digital Healthcare: Where To From Here? The Bloom Burton & Co. Annual Healthcare Investor Conference on April 20, 2021, features Dr. Hamza providing a business update via webinar. Management will also conduct one-on-one meetings at both events, aiming to strengthen investor relations.

CloudMD Software & Services has successfully acquired IDYA4, a health technology firm specializing in data interoperability and cybersecurity, for $14.8 million. This acquisition aims to bolster CloudMD's Real Time Intervention Platform for Substance Use Disorder, addressing the rising addiction crisis in North America exacerbated by the COVID-19 pandemic. IDYA4, generating approximately $4.4 million in revenue with over 31% EBITDA margins, is expected to see annual growth exceeding 45%, aiming for over $8.5 million by 2022. The integration is well underway with several partnerships already established.

CloudMD Software & Services reported securing $5 million in multi-year contracts in 2021, driving growth through cross-selling and integration. The company identified over $500,000 in operational synergies. Its upcoming integrated health platform is set to launch in April for a large corporate client. With a projected annual revenue growth rate exceeding 20% and gross margins over 50%, CloudMD aims to provide a centralized health solution for employers, enhancing employee health and wellness management.

CloudMD Software has signed a definitive agreement to acquire IDYA4, a health technology firm specializing in data interoperability and cybersecurity, for a total consideration of US$14.8 million. The acquisition is expected to be immediately accretive, with IDYA4 having generated approximately US$4.4 million in revenue and an EBITDA margin of 31% in 2020. The integration will enhance CloudMD's patient-centric platform and is projected to drive significant annual revenue growth of over 45% from IDYA4's products by 2022, with new contracts adding US$1.5 million to revenue.

CloudMD Software & Services has announced a binding term sheet to acquire VisionPros, a digital eyecare platform, for $30 million in cash, $30 million in common shares, and up to $40 million in performance-based earnouts. This acquisition, which increases CloudMD's annual revenue run rate to over $85 million, provides access to nearly 1 million unique customers and synergies with its existing technology stack. VisionPros reported revenues exceeding $22 million in 2020 with over 10% adjusted EBITDA margins.

CloudMD Software & Services Inc. (DOCRF) has successfully acquired a 51% stake in West Mississauga Medical Ltd., a clinic serving over 100,000 patients. The acquisition, valued at C$200,000, includes C$140,000 in cash and C$60,000 in stock, enhancing CloudMD's position in telemedicine. West Mississauga Medical has 8 family doctors and 4 specialists and has maintained operations during the COVID-19 pandemic. This strategic move supports CloudMD’s growth strategy by integrating West Mississauga into its telemedicine network across Canada.

CloudMD Software & Services has appointed Mena Beshay as Global Head, Corporate Development, focusing on mergers and acquisitions to support global expansion. Daniel Lee has joined as the new Chief Financial Officer, bringing nearly 20 years of financial experience with publicly-listed technology companies. The management changes aim to enhance operational efficiency and strategic growth. CloudMD operates a telemedicine platform, servicing 376 clinics and nearly 3 million patient charts, emphasizing a patient-centric healthcare delivery model.