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CloudMD Expands Patient Engagement Portfolio
CloudMD Software & Services Inc. (OTCMKTS: DOCRF) just keeps rolling out new deals and acquisitions. The company has been very active this year, with six acquisitions on the books so far across various sectors, according to search results in our Deal Search Online database. Last week, CloudMD acquired Toronto-based iMD Health Global Corp. for $4.58 million, or $3.38 million in CloudMD shares and $1.2 million in cash. CloudMD offers SAAS based health technology solutions to medical clinics across Canada. It was formed in 2013 and was formerly known as Premier Health Group. iMD’s digital patient engagement platform is used by healthcare professionals (including doctors, nurses,... Read More »
WELL Health Moves into the U.S. Market
WELL Health Technologies Corp. (TSX.V: WELL), a Vancouver-based digital health company, has moved into the U.S. healthcare market. The company has made several acquisitions in Canada and has a sizeable market presence there; WELL Health owns and operates 20 primary healthcare medical clinics and is Canada’s third-largest EMR supplier serving over 2,000 medical clinics. However, with its purchase of Circle Medical, a national U.S. telehealth provider, for $14 million, WELL Health now has a foothold in the U.S. market, which is more than 17 times greater than the Canadian healthcare market. The deal and WELL Health’s U.S. expansion is being supported by a $23 million investment led by Hong... Read More »
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 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 »
Health Catalyst Acquires Vitalware
Health Catalyst (NASDAQ: HCAT) has been an active buyer this year. In July, the digital health firm purchased healthfinch, Inc. for $40 million to build its population health portfolio and electronic health record platform, and now it is boosting its revenue cycle management services. Health Catalyst announced last week it is acquiring Vitalware, LLC, which provides revenue workflow optimization and analytics SaaS technology solutions to healthcare organizations. The terms of the deal include $120 million upfront and an additional $30 million could be paid as a potential earnout. The upfront payment will be comprised of a mix of cash and 1,487,210 shares valued at $33.62. Vitalware offers... Read More »Schedule a demo
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