CloudMD To Acquire MindBeacon For $116 Million In Cash And Shares

CloudMD Software & Services (TSXV: DOC) appears to be taking a page out of Well Health’s playbook, announcing this morning it will be acquiring a publicly traded firm as it looks to continue to backfill its valuation. The firm has reached a definitive agreement to acquire MindBeacon Holdings (TSX: MBCN).

MindBeacon, a digital mental healthcare platform, is set to be acquired by CloudMD for a total figure of $116 million. Consideration is to consist of cash and shares, with shareholders to receive $1.22 in cash per share held, as well as 2.285 common shares of CloudMD. Collectively, consideration is said to have a value of $4.78 per share, representing a premium of 49% to the volume weighted average price of MindBeacon.

The transaction is claimed to be synergistic, resulting in a clinical health platform that is expected to be a fully integrated health offering that has “significant cross selling opportunities.” Immediate synergies of $2.0 million have reportedly been identified, with the company expecting a consolidated revenue run rate of $185 million upon closing.

The arrangement remains subject to shareholder approval.

CloudMD last traded at $1.60 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations 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

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

CloudMD Posts $8.8 Million In Revenue, $5.3 Million Net Loss For Q1 2021

CloudMD Software & Services Inc. (TSXV: DOC) last night released its Q1 2021 financial results,...

Friday, May 28, 2021, 09:29:00 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

CloudMD Taps 19 More Post-Secondary Institutions For Mental Health Support Program

CloudMD Software & Services Inc. (TSXV: DOC) announced today the partnership with 19 post-secondary institutions...

Tuesday, September 14, 2021, 09:46:00 AM

CloudMD: Canaccord Lowers Target After Leading $55 Million Bought Deal

On March 9th, CloudMD Software & Services (TSXV: DOC)  announced that their C$55 million bought...

Tuesday, March 16, 2021, 04:08:00 PM

CloudMD Sees CEO Step Down From Role, Remain As Director

As the bottom falls out of the telehealth and telemedicine sector, we’re now starting to...

Wednesday, April 6, 2022, 08:32:53 AM