CloudMD - CEO, Essam Hamza.
CEO, Essam Hamza.
Source: Cambridge House International.
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  • CloudMD (DOC) has secured new state, local and public sector contracts in North America
  • These include projects for the New York City Department of Education and a major Ontario university
  • The company has also formed a new public sector division, which will create cross-selling opportunities and facilitate further scaling across North America
  • CloudMD offers a health-tech platform that addresses all points of a patient’s health care journey while improving access to care and overall outcomes
  • CloudMD (DOC) is up by 9.68 per cent trading at $0.68 per share

CloudMD (DOC) has secured new state, local and public sector contracts in North America.

It will provide integration and technology services to the New York City Department of Education to support policy, process and governance implementation.

It will deploy its substance use disorder solution to support the opioid crisis in North Carolina. The solution uses real-time risk identification tools to help multidisciplinary teams provide the appropriate intervention.

In addition, the company’s mental health support offering received 107 contracts in January and February covering subscription services for up to 50,000 new employees.

The contracts provide revenue diversification and opportunities to accelerate technology and service integration.

CloudMD has also formed a new public sector division, which will create cross-selling opportunities and provide a framework to scale its integrated health services platform across North America.

New public sector division contracts include: 

  • Subscription iCBT services for a major college employer in Canada’s Atlantic region
  • Three employee and family assistance programs contracts for townships and municipalities across Canada
  • Mental health coaching for the employees of a major Ontario university

“Our path to profitability is within sight and we have assembled a leading executive management team that is extremely capable of driving organic growth,” stated Essam Hamza, CEO of CloudMD. “Through our ongoing integration efforts, we are well-positioned to accelerate our expansion and scale the business.”

CloudMD offers a health-tech platform that addresses all points of a patient’s health care journey while improving access to care and overall outcomes.

CloudMD (DOC) is up by 9.68 per cent trading at $0.68 per share as of 2:09 pm EST.

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