DOCRF - CloudMD to acquire HumanaCare for $17.5M

CloudMD Software & Services (DOCRF) signed a binding term sheet to acquire 100% of HumanaCare, an integrated, Employee Assistance Services solution which provides compassionate, holistic, physical and mental health support for employees and their family members.With 35+ years of experience, HumanCare currently has multi-year agreements to service fortune 500 clients, leading corporations and advisors.HumanaCare's current annualized revenue run rate is ~$3.3M with EBITDA margins of 19%+.On acquisition closure, HumanaCare will be immediately accretive to CloudMD with synergies the company driving further revenue and increased EBITDA margin through cost savings achieved via scaling of operations and by tapping into CloudMD’s network of counsellors, nurses, and other healthcare professionals.CloudMD has agreed to pay shareholders of HumanaCare consideration of $17.5M payable as $6.3M in cash, $6.83M in common shares and a performance-based earnout of $4.34M, payable in shares in equal annual issuances over a period of two years.

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CloudMD to acquire HumanaCare for $17.5M