Friday, September 12, 2025

Latest

CloudMD Sells Off Remaining EMR Assets For US$6.3 Million

CloudMD Software & Services (TSXV: DOC) continues to shed assets as it looks to achieve profitability. The company has sold its electric medical records operation in the US, along with its practice management and revenue cycle management assets.

The assets were sold to N. Harris Computer Corporation in what is believed to be an all-cash transaction. The sale amounts to a total figure of US$6.3 million, of which US$5.5 million was reportedly paid upon closing, with the reminder held as holdback.

“We continue to successfully execute our strategy of focusing on our higher growth and margin businesses while surfacing value from non-core assets in our portfolio. The leadership team’s focus is on growing our core Health and Wellness Services business and executing on our expanded pipeline in our Health and Productivity Solutions business, particularly our remote patient monitoring platform,” commented CEO Karen Adams on the asset sale.

The transaction follows a sale in October of 2022, when the company sold its Canadian EMR assets, along with three primary healthcare clinics, to competitor Well Health (TSX: WELL). The EMR, referred to as Cloud Practice, at the time was said to be the second largest OSCAR-based platform used by physicians. With a total sales figure of $5.75 million, the transaction represented a loss for CloudMD, whom collectively paid $9.7 million for the assets previously.

In its most recent quarter, CloudMD reported revenues of $26.1 million, along with a net loss of $7.1 million. The company subsequently replaced CFO John Plunkett with that of Prakash Patel, who came from Elevation Capital.

CloudMD Software & Services last traded at $0.135 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

CloudMD Launches Pharmacy Telemedicine Kiosk Business Unit

CloudMD Software & Services (CSE: DOC) announced this morning that it is moving forward with...

Tuesday, March 3, 2020, 08:23:13 AM

CloudMD Sells Several Assets At A Loss To Well Health

CloudMD Software & Services (TSXV: DOC) is apparently in the process of selling off certain...

Tuesday, October 11, 2022, 09:32:29 AM

CloudMD Announces Partnership With Save-On-Foods For Telemedicine Kiosks

CloudMD Software & Services (CSE: DOC) is going mainstream in a big way. The company...

Monday, May 4, 2020, 08:31:04 AM

CloudMD Releases Preliminary Q3 Results

CloudMD Software & Services (TSXV: DOC) has released preliminary third quarter financial results this morning....

Tuesday, November 9, 2021, 09:02:00 AM

CloudMD Sees Increasing Demand For Telemedicine Offering

CloudMD Software & Services (CSE: DOC) announced this morning that its telemedicine platform has seen...

Tuesday, April 7, 2020, 09:05:52 AM