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M&A
CloudMD goes private after CPS Capital acquisition
Telehealth
Jul 9, 2024
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Jul 9, 2024

CloudMD goes private after CPS Capital acquisition

M&A

  • CloudMD Software & Services Inc., a Canada-based telemedicine facilitator, has completed 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 are expected to be delisted from the TSX Venture Exchange after July 10, 2024, and the company plans to cease being a reporting issuer under Canadian securities laws.

  • Analyst QuickTake: Previously, in October 2022 , the company sold off CloudMD’s Cloud Practice as well as three primary care clinics located in British Columbia to fellow Canadian digital health company WELL Health for USD 5.8 million. Its acquisition and go-private transaction with CPS Capital seem to indicate that the company is re-strategizing its approach.

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