CloudMD Software & Services (CSE: DOC) announced this morning that they are currently in the process of increasing doctor onboarding for their flagship telemedicine platform. The increase in onboarding comes as the coronavirus outbreak continues to develop across North America.
Increased onboarding is being conducted as officials from major health organizations, such as the CDC and the World Health Organization push the use of telemedicine services to assist in reducing the spread of the novel coronavirus. Telemedicine visits reduce the transmission of the viral disease due to reduced exposure to medical offices and public settings.
As demand for our services is expected to rise amidst the current Coronavirus outbreak, we are increasing our physician recruitment to manage the increased demand. It’s better to triage patients remotely, sending only complex cases to over-stretched hospitals, allowing for a more efficient use of healthcare resources and ultimately higher quality of care for the patient population.Dr. Essam Hamza, CEO of CloudMD
Additionally, CloudMD has also announced that its previously announced private placement for $3.0 million has seen the base offering fully subscribed to. The financing was lead by Gravitas Securities, and is expected to close March 11.
CloudMD Software & Services last traded at $0.52 on the CSE.
FULL DISCLOSURE: CloudMD Software & Services is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover CloudMD Software & Services on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.