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Neupath Health Acquires KumoCare to Advance Virtual Care Strategy
Thursday 10 June 2021

Canada-based pain treatment clinics network NeuPath Health Inc. (TSX Venture: NPTH) has acquired virtual care platform KumoCare to expand telemedicine offerings and virtual care strategy, the company said.

Under the terms of the definitive agreement and in consideration for the purchase of 100% of the issued and outstanding shares of Aidly Inc. and KumoCare Peel York Inc., the owners of KumoCare, NeuPath have agreed to pay total consideration of up to USD 1.5m payable as USD 1m in NeuPath shares and an additional cash consideration of up to USD 0.5m.

The transaction is expected to close in 3Q21.

The acquisition of KumoCare and its telemedicine platform allows NeuPath to elevate the patient care experience and unlock additional revenue generating opportunities in both the public and private healthcare segments.

NeuPath is a vertically integrated health care provider utilising research, data-driven insights, technology, and interdisciplinary care to help restore function for patients impacted by chronic pain, spinal injuries, sport-related injuries, and concussions.
Date Published: 10/06/2021