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Hot Stocks
CloudMD closes acquisition of HumanaCare » 07:32
01/12/21
01/12
07:32
01/12/21
07:32
DOCRF

CloudMD

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+ (+0.00%)

CloudMD Software &…

CloudMD Software & Services is pleased to announce that it has closed the previously announced acquisition of HumanaCare Organizational Resources, an integrated, Employee Assistance Services solution which provides compassionate, holistic, physical and mental health support for employees and their family members, by way of acquiring 100% of the shares of HumanaCare's parent company, First Health Care Services of Canada. Historically, EAP's have focused exclusively on short-term incidental care. This is a transformational acquisition, as HumanaCare combined with CloudMD's enterprise platform will not only provide short-term support, but now employees and family members will have access to a patient-focused approach to longer-term and chronic care management. CloudMD will be able to optimize and cross-sell into HumanaCare's current client network by offering corporations and employers a more comprehensive solution which includes telemedicine, triaging, on-demand mental health support, and educational healthcare resources. As a solution to the currently siloed healthcare system, the combined offerings will provide one, centralized platform that breaks down the barriers to access by offering a team-based, longitudinal approach to employee wellbeing. HumanaCare's current annualized revenue run rate s approximately $3.3 million with EBITDA margins that are greater than 19 per cent. Upon closing, the acquisition of HumanaCare will be immediately accretive to CloudMD with synergies the Company believes will drive further revenue and increased EBITDA margin through cost savings achieved through scaling of operations and by tapping into CloudMD's network of counsellors, nurses, and other healthcare professionals. HumanaCare was acquired by way of the the Company's acquisition of 100% of the issued and outstanding shares of First Health, which owns 100% of the issued and outstanding shares in the capital of HumanaCare. In consideration for the purchase of 100% of the Purchased Shares, CloudMD has agreed to pay the sellers thereof an aggregate consideration of $17.5 million payable as follows: $6.3 million in cash, subject to a working capital adjustment; $6.825 million in common shares of the Company; and a performance-based earnout of $4.375 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 $2.88 per 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 25 months from the date of issuance.

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DOCRF CloudMD
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+ (+0.00%)

DOCRF CloudMD
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09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Over a month ago
Hot Stocks
CloudMD to acquire IDYA4 for $14.8M » 07:38
12/17/20
12/17
07:38
12/17/20
07:38
DOCRF

CloudMD

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+ (+0.00%)

CloudMD Software &…

CloudMD Software & Services announced that it has signed a binding term sheet to acquire IDYA4, a data integration and cybersecurity company based in the United States. 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 proactively providing protection 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, U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services, and National Intelligence. Global legislations are evolving to ensure patients have access to their own healthcare data and are empowering them to take control of their healthcare journeys. IDYA4's health data platform already leverages critical national and international technology standards and allows providers and patients access to sensitive and private health data in an efficient and intuitive manner with adherence to privacy and security regulations. The IDYA4 platform is designed to allow various health technology solutions like Electronic Medical Records, Apps, telehealth solutions and medical devices to connect and share data with all the relevant privacy and data security rules applied that can vary state to state or program to program. The IDYA4 software and team will also immediately help accelerate CloudMD's integration of its healthcare technology solutions to provide one, digitally connected platform to enable team-based, continuity of care and an ecosystem of healthcare providers focused on the overall health and wellness of the patient. The integrated technology will also be valuable as CloudMD continues to emphasize patient engagement through connected technology, healthcare portals, telehealth applications, and wearable devices. In addition to accelerated integration, CloudMD will be able to leverage IDYA4's already existing relationships and cross-sell its suite of healthcare solutions and enterprise healthcare platform to these clients. This includes offering solutions such as Livecare, Benchmark, Snapclarity and iMD Global Health to IDYA4's existing and prospective clients to provide an enhanced health and wellness offering. Using their standard-based interoperable platform, IDYA4 has developed several applications which have been commercialised and continues to develop and add to their portfolio of solutions to address the evolving healthcare landscape and the unmet demand for innovative and secure healthcare solutions. The recently launched Health and Wellness Platform will be deployed to assist First Responders initially and will be rolled out to Public Health, Professional Sports and other communities. This program will address the issues of Behavioural Health including Mental Health and Substance Use Disorder heightened by the COVID-19 pandemic across North America, and will be the core component of CloudMD's enterprise health solutions. IDYA4's current annualized revenue run rate, based on the 9-month period ending September 31, 2020, is approximately $4.1M with EBITDA margins of 36%. 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 current health technology solutions that will be added to IDYA4's current product portfolio. From IDYA4's currently commercialised 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 $6M and $8.5M in calendar years 2021 and 2022, respectively. A total of 30% of the total consideration for the acquisition amounting to $4.44M is based on two performance based earnouts, 15% each, that are contingent on meeting these forecasted revenue targets. In consideration for the purchase of 100% of the issued and outstanding IDYA4 Securities, CloudMD has agreed to pay aggregate consideration of $14.8M payable as follows: $ 3.7M in cash, subject to a working capital adjustment; $6.66M in common shares of the Company; and a performance based earnout of $4.44M, of which $0.44M is payable in cash and $4M 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 are issued at a deemed price of $2.16 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. The shares will be subject to certain contractual restrictions on trading for a period of 30 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.

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DOCRF CloudMD
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DOCRF CloudMD
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09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Recommendations
Greenbrook TMS price target raised to C$5.50 from C$3.50 at Clarus » 08:51
12/16/20
12/16
08:51
12/16/20
08:51
GBOKF

Greenbrook TMS

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Clarus analyst Noel…

Clarus analyst Noel Atkinson raised the firm's price target on Greenbrook TMS to C$5.50 from C$3.50 and keeps a Speculative Buy rating on the shares. The Spravato psychedelic pilot in Q1 could lead to Greenbrook becoming the largest psychedelics treatment network in the U.S., Atkinson tells investors in a research note. The analyst says Spravato could become a major contributor to EBITDA.

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GBOKF Greenbrook TMS
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11/12/20 Stifel
Greenbrook TMS price target raised to C$3.10 from C$3 at Stifel
05/22/20 Canaccord
Greenbrook TMS price target lowered to C$3.25 from C$3.50 at Canaccord
02/24/20 Canaccord
Greenbrook TMS initiated with a Buy at Canaccord
Hot Stocks
CloudMD launches addiction support program » 07:42
12/09/20
12/09
07:42
12/09/20
07:42
DOCRF

CloudMD

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+ (+0.00%)

CloudMD Software &…

CloudMD Software & Services announced that it has launched an addiction support program through its mental health solution, Snapclarity and educational library, iMD Global Health which focuses on providing support and resources for early intervention and relapse. The COVID pandemic has highlighted a significant increase in health issues due to addiction and substance use disorder. According to the Journal of American Medical Association, there is accumulating evidence that indicates a "second wave" is building caused by rising rates of mental health and substance use disorders. This imminent mental health surge will bring further challenges for individuals, families, and communities including increased deaths from suicide and drug overdoses. In Canada, 25% of Canadians aged 35-54 staying at home indicate that their alcohol consumption has increased. Substance abuse and addiction was a concern before the pandemic, with approximately 21% of the total population experiencing addiction at some point in their lifetime. There are many resources supporting individuals with anxiety, depression and other mental health conditions but few have a specialized treatment for early identification and management of substance use disorders. This new program will include resources for early intervention and relapse to continue to support those with substance use issues. Through its proprietary app, Snapclarity offers mental health assessments and counselling to empower individuals in treatment and recovery, when integrated with iMD's robust library of resources and education tools, the program will provide a comprehensive care plan that supports individuals on their mental health journey.

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DOCRF CloudMD
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DOCRF CloudMD
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09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Hot Stocks
CloudMD, Save-On-Foods expand on-demand telemedicine service » 09:10
12/07/20
12/07
09:10
12/07/20
09:10
DOCRF

CloudMD

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CloudMD Software &…

CloudMD Software & Service announced it is expanding its already established relationship with Save-On-Foods, Western Canada's largest grocery chain, to provide an on-demand telemedicine service to its customers. Save-On-Foods has over 180 stores across BC, Alberta, Saskatchewan, Manitoba and the Yukon. Earlier this year, CloudMD and Save-On-Foods announced plans to pilot telemedicine kiosks in nine pharmacies across British Columbia. The kiosk enables customers to see a doctor for prescriptions and non-emergency health concerns in real time, on-site. After the virtual visit, prescriptions can be submitted directly to the same pharmacy for fulfillment. Now, Save-On-Foods is adding an additional service to its customers, offering them more efficient access to medical care.

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DOCRF CloudMD
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DOCRF CloudMD
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09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Conference/Events
Desjardins to hold a virtual conference » 09:46
11/24/20
11/24
09:46
11/24/20
09:46
GBOKF

Greenbrook TMS

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, DOCRF

CloudMD

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Digital Healthcare…

Digital Healthcare Virtual Conference 2020 will be held on November 24.

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DOCRF CloudMD
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GBOKF Greenbrook TMS
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+ (+0.00%)

11/12/20 Stifel
Greenbrook TMS price target raised to C$3.10 from C$3 at Stifel
05/22/20 Canaccord
Greenbrook TMS price target lowered to C$3.25 from C$3.50 at Canaccord
02/24/20 Canaccord
Greenbrook TMS initiated with a Buy at Canaccord
DOCRF CloudMD
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+ (+0.00%)

09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Hot Stocks
CloudMD closes acquisition of Re:Function for C$8M » 07:32
11/19/20
11/19
07:32
11/19/20
07:32
DOCRF

CloudMD

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+ (+0.00%)

CloudMD Software &…

CloudMD Software & Services announced that it has closed the previously announced acquisition of Re:Function Health Group, a rehabilitation clinic network, with 8 clinics and 37 specialists and allied health professionals. The company said, "Re:Function is a state-of-the-art rehabilitation company built by like-minded health professionals offering superior patient focused care, with a longitudinal approach to healthcare delivery. Re:Function provides assessments for enterprise clients, insurers and corporations for long-term disability claims and return to work outcomes. CloudMD will integrate its telemedicine solutions throughout the clinics, layering on additional allied health and specialist functions to the platform. The practice is made up of four key rehabilitation pillars, Re:Build, Re:Think, Re:View and Re:Tool, and a team of specialists including: Occupational Therapists, Physiotherapists, Kinesiologists, Psychologists, Psychiatrists and Counsellors. The acquisition will be immediately accretive to CloudMD as the Re:Function group of clinics generated approximately $5.8M in revenues with earnings before interest, taxes, depreciation and amortization margins exceeding 19% over the last fiscal year ending January, 2020." Re:Function's principle Directors, Ralph Cheesman and Mike Smith, both Occupational Therapists, will be joining CloudMD to lead the continued expansion of allied health services across North America, and together will provide a multidisciplinary, team-based approach to treatment. In consideration for the purchase of 100% of the outstanding securities of Re:Function, CloudMD has agreed to pay shareholders aggregate consideration of C$8,000,000 payable as follows: C$3,000,000 in cash, subject to a working capital adjustment; C$3,500,000 in shares of the Company; and a performance-based earnout of C$1,500,000, which is payable in shares of the Company in annual issuances over a period of three years. All shares issued pursuant to the acquisition are issued at a deemed price of C$0.88 per share and are priced by calculating the ten-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 executed on August 21, 2020. The shares will be subject to certain contractual restrictions on trading for a period of thirty months from the date of issuance.

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DOCRF CloudMD
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DOCRF CloudMD
$0.00 /

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09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Hot Stocks
CloudMD closes acquisition of iMD Health Global Corp. for C$10M » 07:34
11/18/20
11/18
07:34
11/18/20
07:34
DOCRF

CloudMD

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+ (+0.00%)

CloudMD Software &…

CloudMD Software & Services announcec that it has closed the previously announced acquisition of iMD Health Global Corp. The company said, " iMD is a trusted platform used by healthcare professionals, to provide factual, medical information that promotes positive patient behaviour in all health sectors. iMD's intuitive platform provides a robust digital library and consultative visual component which is available on any digital device. iMD's platform is populated with content licensing partnerships with Canada's most respected health associations, pharmaceutical companies in addition to being backed and partnered with Apotex Pharmaceuticals, one of Canada's largest pharmaceuticals companies with $2B in annual sales, which currently has an 18% equity stake in iMD." The platform has access to over 7.5M patients and is currently being used by over 10,000 healthcare professionals and other users including: 3,800 doctors, 2,000 pharmacies, 140 hospitals, and 150 specialty clinics. In addition, iMD has partnerships with over 30 global pharmaceuticals companies, 18 digital healthcare integration providers, Health Canada and over 60 healthcare associations in North America. iMD's robust medical library already has over 80,000 patient friendly images, brochures and videos covering 2,100 health conditions, which includes the medical Mayo Clinic library. Kevin Delano, CEO and Founder of iMD has plans to expand iMD across Canada, North America, Mexico and the Middle East. The iMD team will have access to CloudMD's resources and capital to expedite its expansion and continue growing the business. Kevin will be responsible for leading the continued global expansion of iMD. In consideration for the purchase of 100% of the outstanding securities of iMD, CloudMD has agreed to pay shareholders aggregate consideration of C$10,000,000 payable as follows: C$1,500,000 in cash, subject to a working capital adjustment; C$4,500,000 in shares of the Company; and performance-based earnouts of C$4,000,000 which is payable in shares of the Company in annual issuances over a period of two years. All shares will be issued at a deemed price of C$1.61 per share and are priced by calculating the ten-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. The shares will be subject to certain contractual restrictions on trading for periods ranging from eight and twenty months from the date of issuance.

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DOCRF CloudMD
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+ (+0.00%)

DOCRF CloudMD
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+ (+0.00%)

09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord
Recommendations
Greenbrook TMS price target raised to C$3.10 from C$3 at Stifel » 12:17
11/12/20
11/12
12:17
11/12/20
12:17
GBOKF

Greenbrook TMS

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+ (+0.00%)

Stifel analyst Justin…

Stifel analyst Justin Keywood raised the firm's price target on Greenbrook TMS to C$3.10 from C$3 and keeps a Buy rating on the shares.

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GBOKF Greenbrook TMS
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05/22/20 Canaccord
Greenbrook TMS price target lowered to C$3.25 from C$3.50 at Canaccord
02/24/20 Canaccord
Greenbrook TMS initiated with a Buy at Canaccord
Hot Stocks
CloudMD launches Enterprise Health Solutions Division » 07:54
11/12/20
11/12
07:54
11/12/20
07:54
DOCRF

CloudMD

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+ (+0.00%)

CloudMD Software &…

CloudMD Software & Services announce dthat it has launched an Enterprise Health Solutions Division designed to create engagement and enable patients through personalized health and wellbeing solutions. Karen Adams, Chief Health Innovation Officer will lead the new division and assume the additional role of Global Head of Enterprise Health Solutions. In 2019, Health spending in Canada was approximately $264B, with 30% representing private-sector spending. Furthermore, Canadians spend almost a billion dollars on counselling services each year and lose approximately $2.1 billion in wages due to long wait times for healthcare services. Many do not receive the full scope of care they need and end up cycling through the acute care system. As organizations focus on issues relating to equality, diversity, inclusion, and mental health in managing employee health concerns it's apparent that the way group benefits programs are administered needs to change. In the current system, employers are burdened with a siloed approach to managing health and wellbeing, and are using various stand-alone, single issue solutions to address their employees' healthcare needs. CloudMD recognizes the market needs to integrate disconnected health and wellbeing benefits with technology enabled services to ensure increased access and continuity of care. CloudMD will be offering clients a connected system of health solutions that recognizes the unique needs of each person. The program starts with a personal assessment and designs a personalized navigation care plan. All programs use progressive measurement and evidenced based care which results in better health outcomes. This transformational approach to employee health and wellbeing is enabled through the strategic acquisitions of leading healthcare solutions Re:Function, Snapclarity, HumanaCare, Medical Confidence, and iMD Health. Coupled with CloudMD's virtual care, primary care and allied health network, the centralized platform creates an integrated solution to help employers address their workforce's holistic health and wellness. CloudMD's enterprise health solutions leverage both public and private funding which optimizes employer's health and wellness spend.

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DOCRF CloudMD
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DOCRF CloudMD
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09/23/20 Canaccord
CloudMD price target raised to C$2.50 from C$1.75 at Canaccord

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