DOCRF - CloudMD to acquire Canada's largest medical directory for $1.95M

CloudMD Software & Services (DOCRF) entered into a Binding Term Sheet to acquire the Canadian Medical Directory ((CMD)), Canada’s largest, most trusted, directory of medical professionals including 91K practicing physicians and 10K residents and nurse practitioners across the country.The total consideration of $1.95M is payable in $250K in cash and $1.35M in shares and a performance-based earnout of $350K, which is payable in shares in annual issuances over a period of two years; all shares issued at a deemed price of $2.35/share.The robust, multi-layered database is genuinely unique as no other direct competitor has a SaaS platform that collects and vends the data in such a highly segmented, up-to-date way.CloudMD will be able to integrate the CMD database into its Juno EMR, billing, virtual care and telehealth platforms, as well as iMD Health's leading educational resource databank.CMD acquisition will be immediately accretive to CloudMD's top line with the 100% SaaS and high

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CloudMD to acquire Canada's largest medical directory for $1.95M