Latest News
CloudMD to Acquire South Surrey Medical Clinic for Up to CDN 700,000
Monday 03 August 2020

Canadian telemedicine company CloudMD Software and Services Inc. (TSX Venture: DOC) (OTCQB: DOCRF) (Frankfurt: 6PH) has signed a Share Purchase Agreement to acquire Canadian medical clinic South Surrey Medical Inc., for an aggregate consideration of up to CDN 700,000 (USD 521,230), the company said.

In consideration for the purchase of all of the outstanding securities of the medical clinic, CloudMD has agreed to pay Shareholders up to CDN 700,000 (USD 521,230), payable as up to CDN 200,000 (USD 148,920) in cash and up to CDN 500,000 (USD 297,850) in shares of the Company.

South Surrey is a provider of integrated medical solutions and an early adopter of telemedicine delivery. The Clinic has been able to streamline healthcare services and provide longitudinal and team-based patient centric care by offering a number of medical services from one location.

CloudMD is digitising the delivery of healthcare by providing patients access to all points of their care from their phone, tablet or desktop computer. The company offers SAAS based health technology solutions to medical clinics across Canada and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence.
Date Published: 03/08/2020