RE:RE:Out of money and no optionsFrom deepdive..
The transaction will see CloudMD collect $5.75 million on the asset divesture, with Well Health said to be paying $5.1 million in upfront cash, with the remaining funds subject to a holdback period. The company has indicated that the sale “is not expected to have a material impact on the company’s EBITDA or operating cash flows.”
Well Health sees it slightly different however, with the company forecasting that the newly acquired assets will generate “more than $9.0M in topline revenues,” while also operating profitably.
READ: CloudMD Posts $40.3 Million In Revenue, $44.2 Million Net Loss In Q2 2022
Notably, the sales come at a loss for CloudMD. The company originally acquired Healthvue, the Vancouver based clinics, in 2018 for $4.0 million in cash and shares, while the Surrey Clinic was acquired for $0.7 million two years ago. Cloud Practice itself was acquired for $5.0 million in 2018, indicating that the firm has taken a major loss on the transaction as a whole.
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Karen is a complete moron. After Hamza here another one..