- CloudMD Software & Services Inc. (DOC) provides an update on its Enterprise Health Solutions Division
- Since launching the EHS Division, CloudMD has seen significant organic growth and integration synergies across the platform
- In April 2021, CloudMD will be launching its EHS fully-integrated, proprietary health services platform with a large corporate customer, serving over 10,000 employees
- Also, CloudMD announces it has engaged Native Ads, Inc. to provide strategic digital media services, marketing, and data analytics services
- CloudMD Software & Services Inc. (DOC) is down 3.57 per cent and is trading at C$2.02 at 2:55 pm ET
CloudMD Software & Services (DOC) is pleased to provide an update on its Enterprise Health Solutions Division.
Since launching the EHS Division, CloudMD has seen significant organic growth and integration synergies across the platform.
The EHS Division offers one of the first centralized and connected platforms of health and wellness solutions for employers as part of their benefits programs.
These solutions include employee assistance programs, mental health support, physician/allied health services, professional referrals, personalized healthcare navigation, specialty drug consultation and much more.
CloudMD closed the majority of its EHS business acquisitions in January 2021, and since then, it has secured C$5 million in new, multi-year customer contracts for mental and physical health solutions.
These recurring revenue contracts include organizations of all sizes, including large corporate clients like Medavie Blue Cross.
Additionally, the EHS Division has identified operational synergies by centralizing marketing, technology and finance functions, enabling a shared services approach with annual cost savings exceeding C$500,000.
The EHS Division is executing on market share growth, margin expansion, cross-selling and integration of capabilities.
In April 2021, CloudMD will be launching its EHS fully-integrated, proprietary health services platform with a large corporate customer, serving over 10 thousand employees across Canada.
Employees will be triaged and assessed using CloudMD clinical tools followed by appropriate service activation with navigation assistance to ensure the individual has the optimal outcome and continuity of care.
Karen Adams, Global Head, EHS Division, commented,
“We are very excited with the performance and growth of the EHS Division since we launched in January 2021.” We feel strongly that this centralized platform will enable deeper member engagement, support inclusivity and diversity and provide for more positive healthcare outcomes,” added Adams.
Also, CloudMD announces it has engaged Native Ads, Inc. to provide strategic digital media services, marketing, and data analytics services.
CloudMD is digitizing healthcare delivery by providing a patient-centric approach, with an emphasis on continuity of care.
CloudMD Software & Services Inc. (DOC) is down 3.57 per cent and is trading at C$2.02 at 2:55 pm ET.
