DOCRF - CloudMD to acquire Medical Confidence for $6M

cloudMD Software & Services (DOCRF) -1% PM, signed a binding term sheet to acquire 100% of Medical Confidence, a revolutionary health care navigation platform with proven results in wait time reduction and patient satisfaction, for $6M.The consideration is payable, $2.25M in cash, $2.25 million in shares and a performance-based earnout of $1.5M (payable 50% in shares and 50% in cash in equal annual issuances over a period of two years).Through the integrated with CloudMD, the combined suite of health care solutions will offer one, multi-functional platform which addresses total health (mental and physical care) and provides a direct and existing pathway into corporations and insurers.It would leverage a database of 17K specialists to reduce wait times for specialist appointments and medical procedures resulting in better access to care and return to work outcomes.Acquisition will be immediately accretive to CloudMD as Medical Confidence generated ~$2M in revenues with EBITDA margins exceeding 26% over the

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CloudMD to acquire Medical Confidence for $6M