CloudMD Closes Acquisition of Medical Confidence Inc., a Revolutionary, Technology-based, Healthcare Navigation Platform for Enterprise Clients
Leverages database of 50,000 specialists to reduce wait times for specialist appointments and medical procedures resulting in better access to care and return to work
Proven results include: 20% reduction in benefit and disability costs, 6-month reduction in disability duration (on average), access to treatment 220 days sooner (on average) and improved
employee satisfaction (reported by 75% of clients).
Long standing contracts with Canada’s largest group benefit and disability insurers.
Integrated with CloudMD, the combined suite of Enterprise Solutions including iMD Health, HumanaCare and SnapClarity will provide one, multi-functional platform which addresses total
health (mental and physical care) and provides a direct and existing pathway into corporations and insurers.
Immediately accretive with high margin revenues of approximately $2 million with earnings before interest, taxes, depreciation and amortization (EBITDA) margins exceeding
VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company seeking to revolutionize the delivery of healthcare to patients, is pleased to announce that it has closed the previously announced acquisition of Medical Confidence Inc. (“Medical Confidence”), a revolutionary healthcare navigation platform with proven results in wait time reduction and patient satisfaction.
Medical Confidence provides access to a proprietary, real time digital database of publicly available specialists and their wait times, allowing patient referrals to the right specialist in the shortest available time. The platform provides medical consultations, wellness plans and referrals to Canadian healthcare providers in support of patients’ mental and physical health issues. The company’s clinical healthcare navigators use a collaborative, team-based, approach that leaves individuals motivated and supported throughout their care journey, as well as eliminates frustrations and mental health issues surrounding lack of access to care and long wait times to see appropriate care.