CloudMD to Acquire the Largest Medical Directory in Canada with Robust, Up-to-Date, Information on 91,000 Practicing Physicians and 10,000 Residents and Nurse Practitioners - Seite 2
With CloudMD’s significant network, there is also an opportunity to broaden and expand CMD’s current enterprise and institutional client base to drive further revenue. CloudMD plans to do this by cross-selling key CMD offerings including CMD’s API for Insurers, which helps with Medical Insurance fraud detection, CMD’s pending integration with Salesforce, HubSpot and MS Dynamics and CMD’s newest integration with Clinia.com, who has integrated the CMD data into its next generation Canadian health resource directory.
CMD is wholly-owned by Owen Media Partners, an information services leader founded by CEO Hugh Owen. Through its MacRAE'S and Scott's Directories brands, Owen Media has helped tens of thousands of businesses with their B2B Lead Gen and digital marketing strategies and attracted more than 500 million visitors to its own websites. Founded in 1995, Owen Media has operations in Toronto and Delhi, India and a sales network in Canada and the US.
The acquisition of CMD will be immediately accretive to CloudMD’s top line with the 100% SaaS and high margin revenue model. CMD generated approximately $450,000 in revenues with earnings before interest, taxes, depreciation and amortization (EBITDA) margins exceeding 65%, resulting in an EBITDA of approximately $293,000 over the 12-month period ending September 30, 2020. The Company believes that there is significant opportunity to further optimize the revenue through integration and optimization.
Essam Hamza, CEO of CloudMD commented, “This acquisition reflects another important piece of our strategy to provide a whole-person, longitudinal approach to healthcare delivery. Having CMD’s robust, segmented database of health practitioners across Canada will be extremely valuable for our business and opens up synergies and opportunities for optimization, cross selling, public sector and private corporate partnerships. Over the years, Hugh has continued to build an incredible product, which combined with our platform, will be a powerful tool to help Canadians and the overall healthcare sector. Built by a team of doctors, we understand the pain points of the healthcare sector, and having an accurate data rich database like CMD will provide important data-sets that we can add to, which will in turn provide better service and care to patients. We are thrilled Hugh and the CMD team decided to partner with CloudMD, and we look forward to working with them on integrating and expanding our services.”