CloudMD Signs Definitive Agreement to Acquire IDYA4, a North American Leader in Healthcare Data Integration and Cybersecurity

IDYA4 Technology is a key component of CloudMD’s integration of healthcare solutions providing one, digitally connected, patient-centric platform

• Innovative, health data integration and security technology solution leveraging various information sharing standards supported by the U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services and currently in use by various Government agencies at the Federal, State and Local level.
  
• Solution is CloudMD’s technology backbone for combining its services and continued growth through implementing new technology applications, healthtech solutions and wearable devices.
• Immediately synergistic and accretive, with approximately US$4.4M revenue in 2020 with EBITDA margins of 31% with a strong revenue pipeline and growth opportunities.
• With IDYA4’s currently commercialized products, expected annual revenue growth rate is over 45%.
• Since announcing the binding agreement in December 2020, IDYA4 has launched a number of national programs and closed various new contracts that will generate US$1.5 Million.
  

VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has signed a definitive agreement (the “Agreement”) to acquire IDYA4, a leading health technology company focused on data interoperability and cybersecurity based in the United States. Since announcing the binding agreement in December 2020, IDYA4 has closed various new contracts and waiting task orders to be finalized for approximately $1.5Million (USD).

Focused on the health and wellness sector, IDYA4 has built a proprietary technology platform that provides improvements in data access, management, security and integration, as well as actively screening and protecting against today’s ever-changing cyber threats. Built on over 20 years of experience, the IDYA4 team has been at the forefront of the development of information sharing and interoperability solutions across all 50 states for clients including, the U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services, and National Intelligence.