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This is a Clear Sign Telehealth Demand is Here to Stay

CVS, TDOC

With or without the pandemic, telehealth is here to stay, revolutionizing healthcare as we know it. According to a recent survey of from Metova, of the 1,000 people surveyed in the U.S., “80%, if given the option, would choose telemedicine for their next medical appointment, 79% have wanted to connect with a medical professional using video conferencing and 93% were either satisfied or very satisfied with their telemedicine experience. With many wishing to avoid medical waiting rooms due to COVID-19, we're expecting an acceleration in demand for telemedicine. Fortunately, technology now provides the means to provide patients with no-compromise personal consultations, all from the comfort and safety of the patients home."

In addition, telehealth doesn’t look like it’ll go away – at least not any time soon. In fact, “Several telehealth companies are looking to go public or are exploring sales, The Wall Street Journal recently reported. The global market is projected to grow from $25.4 billion this year to $55.6 billion by 2025,” as noted by WebMD. With that in mind, some of the top telehealth stocks to be well aware of include CloudMD Software & Services Inc. (TSXV:DOC) (OTCQB:DOCRF), Teladoc Health Inc. (NYSE:TDOC), CVS Health Corp. (NYSE:CVS), Livongo Health Inc. (NASDAQ:LVGO), and 1Life Healthcare Inc. (NASDAQ:ONEM).

CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) BREAKING NEWS: CloudMD Software & Services Inc., a telehealth company revolutionizing the delivery of healthcare to patients, is pleased to announce that it has entered into a Binding Term Sheet (“Term Sheet”) to acquire 100% of iMD Health Global Corp. (“iMD”), a novel, award winning platform designed for healthcare professionals at every level of care to better engage, inform and educate patients about their conditions and treatment plans. The platform features trusted, peer-reviewed healthcare resources.

iMD is a trusted platform used by healthcare professionals (including doctors, nurses, pharmacists and allied health professionals), to provide factual, medical information that promotes positive patient behaviour in all health sectors. iMD’s intuitive platform provides a robust digital library and consultative visual component which is available on any digital device. iMD’s platform is populated with content licensing partnerships with Canada’s most respected health associations, pharmaceutical companies in addition to being backed and partnered with Apotex Pharmaceuticals, one of Canada’s largest pharmaceuticals companies with $2 billion in annual sales, which currently has an 18% equity stake in iMD.

The platform has access to over 7.5 million patients and is currently being used by over 10,000 healthcare professionals and other users including: 3,800 doctors, 2,000 pharmacies, 140 hospitals, and 150 specialty clinics. In addition, iMD has partnerships with over 30 global pharmaceuticals companies, 18 digital healthcare integration providers, Health Canada and over 60 healthcare associations in North America. iMD’s robust medical library already has over 80,000 patient friendly images, brochures and videos covering 2,100 health conditions, which includes the medical Mayo Clinic library. The platform has a great return on investment (ROI) for healthcare practitioners as it increases efficiency, improves patient engagement, reduces costs and saves time.

The acquisition of iMD is synergistic across every aspect of the Company’s business and both teams share the same vision of providing holistic, patient centered healthcare. iMD’s educational platform will enable CloudMD to provide its entire network of over 3000 healthcare practitioners, specialists, and allied health professionals and almost 3 million patients with valuable educational resources on healthcare issues, treatments and preventative solutions. Providing access to these additional resources is another way CloudMD demonstrates the importance of continuity of care and whole person care as it continues to disrupt traditional healthcare delivery.

The integration of iMD’s platform into CloudMD’s Electronic Medical Records (“EMR”) software, Juno, creates an industry leading EMR software, and one of the only solutions that gives healthcare professionals direct access to additional resources to provide to their patients from one platform. The integration revolutionizes CloudMD’s EMR and will give it a significant competitive advantage over others in the market.

The acquisition will be immediately accretive to CloudMD as iMD has multiple high margin revenue streams from SaaS and sponsorship services. Based on contracts signed to date, iMD expects to generate annualized revenue of approximately $1.2 million with earnings before interest, taxes, depreciation and amortization (EBITDA) margins exceeding 5 per cent. iMD has continued to grow its team and invest in its intellectual property, thus operating near breakeven to continue funding its aggressive growth strategy. CloudMD’s platform will provide opportunities for new revenue streams, cross selling of services and optimization of iMD’s current revenue model.

Kevin Delano, CEO and Founder of iMD has plans to expand iMD across Canada, North America, Mexico and the Middle East. The iMD team will have access to CloudMD’s resources and capital to expedite its expansion and continue growing the business. Kevin has been leading iMD for the last 10 years and has a strong entrepreneurial background, having created / co-founded a number of businesses in the sales and marketing disciplines. Prior to iMD, he co-founded CIM (Consumer Impact Marketing), one of the largest Canadian sales and marketing agencies with approximately $90 million in revenue, which was acquired by Mosaic Sales Solutions. Kevin will be responsible for leading the continued global expansion of iMD.

Essam Hamza, CEO of CloudMD commented, “Kevin has done an incredible job building iMD’s platform from inception to the world class solution it is today. The two companies instantly found common ground with our shared vision of providing a holistic, patient focused approach to healthcare. Combining both platforms is immediately synergistic across every aspect of both our businesses as it allows us to layer on additional educational resources for our doctors, allied health professionals and patients and for us to cross sell services to their clients and patients. These resources empower patients to finally participate in their own health and wellness which studies have repeatedly shown results in better outcomes, and in turn lowers healthcare costs for governments and corporations around the world. The addition of iMD further realizes our strategy of whole person healthcare delivery and will be an extremely valuable piece of our global growth plans.”

Kevin Delano President & CEO of iMD commented, “There is a significant disconnect between what a patient is told and what he or she remembers. We have developed the very best cloud-based patient engagement software on the market. With CloudMD’s infrastructure, including its EMR, network of clinics and pharmacies, and allied health, specialist and mental health solutions, we can accelerate our growth and help more patients. iMD’s platform empowers patients to take control of their health and wellness, and provides trusted, health resources when and where they need it. We are excited to join CloudMD and look forward to working with them moving forward.”

Terms of Agreement

In consideration for the purchase of 100% of the outstanding securities of iMD, CloudMD has agreed to pay shareholders aggregate consideration of C$10,000,000 payable as follows: (i) C$1,500,000 in cash, subject to a working capital adjustment; (ii) C$4,500,000 in shares of the Company; and (iii) performance-based earnouts of C$4,000,000 which is payable in shares of the Company in annual issuances over a period of two years. All shares issued pursuant to the acquisition are issued at a deemed price of C$1.61 per share and are priced by calculating the ten-day volume weighted average trading price of the Company’s shares for the 10 trading days prior to the execution of the binding term sheet. The shares will be subject to certain contractual restrictions on trading for periods ranging from eight and twenty months from the date of issuance.

The acquisition is subject to customary closing conditions, including the execution of a definitive acquisition agreement and receipt of TSX Venture Exchange approval. The company anticipates a definitive agreement on or before October 9, 2020.

The Company also announces it has extended its contract with Winning Media Winning Media, LLC. to provide targeted digital media and corporate brand recognition initiatives. Winning Media is a Houston, Texas – based marketing agency that specializes in digital and corporate brand marketing services to enhance corporate visibility and retail investor awareness. CloudMD has agreed to pay the agency US$114,000 for a six-week term. The agency will handle specific functions of digital distribution of public information relating to the Company. Winning Media and its principals do not have any direct or indirect equity interest in the Company and will not receive any securities of the Company as compensation for their services.

Other related developments from around the markets include:

Teladoc Health Inc. (NYSE:TDOC), the global leader in virtual care, is providing free, 24/7 general medical telehealth visits to residents, first responders and others directly impacted by the western fires currently devastating many parts of California, Oregon and Colorado. Individuals who have been displaced or who cannot access medical care as a result of the wildfires can seek treatment from a board-certified, state licensed physician for any non-emergency illness by calling Teladoc directly at 855-225-5032. With the COVID-19 pandemic presenting an additional health risk, its vital that those impacted know they have immediate access to care in their time of need. “Natural disasters strain communities and health care delivery. This wildfire season is more complicated with an active pandemic still a very real health threat throughout the nation,” said Dr. Lewis Levy, FACP, chief medical officer, Teladoc Health. “Residents from evacuated areas must be vigilant to follow best practices to stay healthy. Virtual care is a proven solution that supports community health during these times, especially when healthcare facilities and providers may also be affected and unable to provide care for residents.”

CVS Health Corp. (NYSE:CVS) announced that children age 12 years and older are eligible for testing at the more than 2,000 test sites located at select CVS Pharmacy drive-thru testing locations, starting Friday, September 11. In addition, more than 120 new test sites will open Friday at CVS Pharmacy drive-thru locations across the country. "With schools opening across the country, there's an urgent need to make testing for minors more readily available," said Troyen Brennan, MD, Chief Medical Officer, CVS Health. "In response, we've implemented a system that allows parents or guardians to register and accompany their children for a self-swab test close to home."

Livongo Health Inc. (NASDAQ:LVGO), the leading Applied Health Signals company empowering people with chronic conditions to live better and healthier lives, announced financial results for its second quarter ended June 30, 2020. “Livongo entered 2020 with significant momentum and our strong results continued during the second quarter,” said Zane Burke, Chief Executive Officer of Livongo. “Innovative employers and health plans are choosing Livongo due to our leading Consumer Directed Virtual Care model and our ability to deliver significant clinical and financial improvements through a one-to-many approach. As we experience the further adoption of virtual health and remote monitoring technologies as the new standard of care, Livongo continues to build on its leadership position.”

1Life Healthcare Inc. (NASDAQ:ONEM) announced that Amir Dan Rubin, Chair & CEO, and Bjorn Thaler, CFO, will participate in the following upcoming investor conference - The Morgan Stanley Global Healthcare Conference on Monday, September 14th, which will include a fireside chat at 9:45 a.m. (PT) / 12:45 p.m. (ET).

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. CloudMD Software & Services Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of CloudMD Software & Services Inc. Please click here for full disclaimer.

Contact Information:
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ty@LifeWaterMedia.com



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