DOCRF - CloudMD to acquire Snapclarity to include Mental Wellness in telehealth offering

CloudMD Software & Services (DOCRF) signed an Amalgamation Agreement dated September 22, 2020 to acquire 100% of Snapclarity for C$3.35M (C$975K in cash and up to C$2.4M in shares at C$0.70/payment share).Payment Shares will be subject to a two year release.Based on performance conditions in 2021 and 2022, Snapclarity may earn an additional C$3.65M in equity-based consideration.Snapclarity provides an on demand digital platform enabling assessment for mental health disorders resulting in a personalized care plan, access to online resources, a clinical health care team and the ability to match to the right therapists.CloudMD post the acquisition will be the only telemedicine companies in North America that can provide both digital primary care solutions integrated with digital mental health care plans.

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CloudMD to acquire Snapclarity to include Mental Wellness in telehealth offering