CloudMD Adds Behavioral Health Clinic Network

CloudMD Adds Behavioral Health Clinic Network

CloudMD Software & Services Inc. (OTCMKTS: DOCRF) has spent most of 2020 expanding its physical presence throughout North America, reaching into new markets. Last week, the company acquired Re:Function Health Group Inc., a leading rehabilitation clinic network, with 7 clinics and 35 behavioral health specialists and allied health professionals across British Columbia. CloudMD will pay $3.4 million through a mix of cash and shares, and a potential $1.15 million in performance-based earnouts. Re:Function Health generated $4.38 million in revenue in 2019. This acquisition represents a significant addition to the depth and spectrum of healthcare services provided by the CloudMD platform.... Read More »
Vocera Adds New Patient Engagement Firm

Vocera Adds New Patient Engagement Firm

Vocera Communications, Inc. (NYSE: VCRA), a mobile technology company serving the healthcare market, has expanded its patient engagement platform through a new acquisition. Last week, Vocera purchased a 100% interest in EASE Applications, LLC for $25 million in cash. This is Vocera’s first acquisition of 2020, but the company has had a solid financial year, reporting total revenue of $47.3 million for the second quarter of 2020, compared to revenue of $44.8 million in the second quarter of 2019. Its remote communication services were probably in high demand due to changes triggered by COVID-19. The addition of EASE will most likely help them in the COVID-19 environment as well. EASE... Read More »
Teladoc Health and Livongo Health Merge

Teladoc Health and Livongo Health Merge

The virtual care giant Teladoc Health, Inc. (NYSE: TDOC) is having a wild year. The company’s second-quarter earnings reports showed Teladoc’s year-over-year revenues surged by 85% to $241 million, and its total telehealth visits rose to 2.8 million, a year-over-year increase of 203%, all thanks to the effects of COVD-19. And now, Teladoc has announced a new merger with Livongo Health, Inc. (NASDAQ: LVGO) valued at $18.5 billion. Livongo is a leading Applied Health Signals company, using its AI+AI engine and a team of data scientists to aggregate and interpret substantial amounts of health data and information to create actionable, personalized health signals delivered to... Read More »
Teladoc Health and Livongo Health Merge

SOC Telemed is Going Public in New Deal

One of the nations’ largest telemedicine providers is now going public. Specialists On Call, Inc. (d/b/a SOC Telemed) has been acquired by Healthcare Merger Corp. (NASDAQ: HCCO), a special purpose acquisition company, for $720 million from Warburg Pincus. Institutional Investors including BlackRock Inc., Baron Capital Group, and ClearBridge Investments, have committed to a private investment of $165 million in the combined company.   SOC’s current management and equity holders, including Warburg Pincus, will roll a portion of their equity into the new SOC, and the proceeds generated by the transaction will be used to pay down existing debt. Once the merger is complete, the new company will... Read More »
DXC Divests Another Business Line

DXC Divests Another Business Line

DXC Technology (NYSE: DXC) has spent 2020 trying to streamline its business portfolio. When Mike Salvino took over as CEO of DXC in September 2019, he announced during his first earnings call that the company was planning strategic alternatives, including the possible divestiture of three of its non-core assets, which made up roughly 25% of the company’s revenue. And last week, DXC announced another milestone in that campaign. The company revealed it is selling its healthcare software provider business to Dedalus Group for $525 million. DXC’s healthcare software business is an open digital health platform that helps improve care outcomes by delivering contextual and... Read More »
Teladoc Health and Livongo Health Merge

CloudMD Announces Second Deal in July

CloudMD Software & Services Inc. (OTCMKTS: DOCRF), a Canada-based digital health company, has announced two new acquisitions in July. Formerly known as Premier Health Group, Inc., CloudMD has had a pretty successful 2020 so far. It reported record revenues in Q1:20 of $3.1 million, reached over 100,000 subscribers on its telemedicine platform, and now has two new companies to boost its product portfolio and customer base.   On July 16, CloudMD announced it purchased Snapclarity Inc., which manages an on-demand digital platform that provides an assessment for an individual’s personal risk of mental health disorders resulting in a personalized care plan, access to online resources, a... Read More »