M&A Deal Summary

CloudMD Acquires Medical Confidence

On October 22, 2020, CloudMD acquired medical products company Medical Confidence for 6M USD

Acquisition Highlights
  • This is CloudMD’s 1st transaction in the Medical Products sector.
  • This is CloudMD’s 4th largest (disclosed) transaction.
  • This is CloudMD’s 6th transaction in Canada.
  • This is CloudMD’s 3rd transaction in Ontario.

M&A Deal Summary
Date 2020-10-22
Target Medical Confidence
Sector Medical Products
Buyer(s) CloudMD
Deal Type Add-on Acquisition
Deal Value 6M USD

Target

Medical Confidence

Richmond Hill, Ontario, Canada
Medical Confidence is a pioneer health care navigation platform that reduces health care costs by achieving better health outcomes. Its health outcomes are measurable and demonstrate reductions in costs associated with absenteeism and presenteeism. Leveraging its innovative use of technology and an unmatched national network of over 17,000 physician specialists.

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Buyer(S) 1

Buyer

CloudMD

Vancouver, British Columbia, Canada
Category Company
Founded 2013
Sector Healthcare Services
Revenue 91M CAD (2023)
DESCRIPTION

CloudMD develops innovative approaches that combine human skill-based expertise with emerging technologies for the healthcare industry. CloudMD was founded in 2013 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 6 of 10
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 6 of 10
State (Ontario) 3 of 5
Country (Canada) 6 of 9
Year (2020) 3 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-24 Snapclarity

Ottawa, Ontario, Canada

Snapclarity provides an on-demand digital platform that provides an assessment for mental health disorders resulting in a personalized care plan, access to online resources, a clinical health care team, and the ability to match to the right therapists. Currently, the platform is used by employers, individuals, therapists, and insurers to offer a program that effectively blends intervention with technology, artificial intelligence, and a human touch that supports a variety of mental health issues. This is accomplished through a suite of digital tools that are designed by clinicians and grounded in evidence-based practices that are proven to positively impact outcomes. Snapclarity was formed in 2016 and is based in Ottawa, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 VisionPros

Surrey, British Columbia, Canada

VisionPros is an authorized retailer for all major contact lens and eyeglass manufacturers and Lowest Price Contacts will now have access to all the brands that customers request. VisionPros strives to carry the best selection of contact lenses, eyewear, and sunglasses, at a fraction of the prices found at an Optometrist's office or local sunglasses retailer. VisionPros was founded in 2010 and is based in Surrey, British Columbia.

Buy $30M
Mergr

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Company

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