CloudMD

CloudMD is a Canadian telemedicine facilitator that offers SaaS solutions for healthcare providers across North America. Software solutions offered include cloud-based electronic medical records software, medical billing software, and an online patient portal on behalf of healthcare providers. Additionally, its telemedicine solution allows patients to schedule appointments 24/7, access prescriptions and lab results in real time, chat securely with clinicians, and link remote patient monitoring devices.

CloudMD completed 14 acquisitions during the 12 months ending June 2021. Acquisitions by CloudMD in 2021 include Aspiria Corp. (an integrated Employee and Student Assistance Program provider), RXI Group (specialty drug wholesaler and pharmacy), Oncidium (B2B healthcare provider), IDYA4 (health data platform), and Vision Pros (online eyecare platform). In November 2021, the company announced its plans to acquire MindBeacon Software, a digital therapeutics platform, to enhance its reach and expand its portfolio of tools available to clients within its behavioral health offering, making the combined platform one of North America's largest integrated health offerings covering mental and physical care.

In May 2022, the company launched its new brand identity for its flagship integrated health service offering “Kii Personalized & Connected Care by CloudMD.” The offering combined its nurse-led care coordination solution and portfolio of healthcare services with a focus on delivering personalized care across the fields of mental health, physical health, and workplace safety for employers.

In October 2022, CloudMD entered into an agreement with WELL Health to sell its Cloud Practice as well as three primary care clinics located in British Columbia. The transaction was carried out for USD 5.8 million, with USD 5.1 million paid in cash at closing, while the balance was subject to closing adjustments and holdbacks.

In July 2024, CloudMD went private in a go-private transaction with CPS Capital, an entrepreneurial investment firm. Through the transaction, CPS Capital (through an affiliate) acquired all outstanding common shares of CloudMD for CAD 0.04 (USD 0.03) per share. Following the acquisition, CloudMD's shares were delisted from the TSX Venture Exchange effective July 10, 2024, and the company planned to cease being a reporting issuer under Canadian securities laws.

Key customers and partnerships

As of August 2024, the company worked with 7,200 enterprise clients, delivered over 300,000 assessments annually, and had a directory of over 17,000 specialists.