CloudMD to Acquire Rxi Group of Companies, an Established One-Stop Patient Support Logistics Company and Leading Customer Relationship Management Technology Provider

Adds $16.6 million in revenue and increases CloudMD’s current annualized run-rate to over $60 million

• Rxi’s pharmaceutical logistic services include drug distribution, patient navigation assistance, a preferred network of over 500 pharmacies and real-time universal disease management software.
• Rxi oversees several national and provincial patient support programs and provides administrative and drug benefit management services to a large third-party benefits provider.
• Proprietary Customer Relationship Management (CRM) technology that is sector agnostic and that can be white-labelled.
• CloudMD’s acquisition of Rxi supports two key objectives: 1) Enhances specialty health services to patients, providers, payers and manufacturers and 2) expands both the suite of offering for enterprise clients and the potential to cross sell existing services to new enterprise clients.

VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company revolutionizing the delivery of healthcare to patients, is excited to announce that it has signed a binding term sheet (“Term Sheet”) to acquire Rx Infinity Inc., Rxi Pharmacy Inc., and Rxi Health Solutions Inc., (collectively “Rxi”), enhancing its specialty health services to patients, providers, payers and manufacturers in Canada.

Rxi’s pharmaceutical logistic services include drug distribution, patient navigation assistance, a preferred pharmacy network of over 500 pharmacies and real time universal disease management software. Historically, patient support programs have been geared towards improving product access and outcomes rather than holistic disease management and linkage to care and clinical interventions that ensure proper medication adherence and better overall health outcomes. As a proven solution to the currently siloed healthcare system, Rxi’s combined offerings provide a one-stop solution and centralized platform that breaks down treatment barriers by offering a team-based, real time, longitudinal approach to patient care and disease management. Rxi oversees several national and provincial patient support programs, specializing in Oncology, Infectious Diseases and Inflammatory Bowel Disease (IBD). The company also provides administrative and drug benefit management services to a large third-party benefits provider, servicing more than 300,000 patients across Canada. Rxi is also licensed as a National Wholesaler (GMP certified), approved by Health Canada.