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News Update


Digital Health Firm Scales Up Telemedicine Services as Global Coronavirus Concerns Mount
News Update

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CloudMD will be scaling up its freely accessible telemedicine app that allows patients to see a doctor in real-time using either a smartphone or desktop device.

In a news release, CloudMD Software & Services Inc. (DOC:CSE; PHGRF:OTCQB; 6PH:FSE), provided an update amidst the global coronavirus outbreak.

The company indicated that its CloudMD telemedicine app, which was launched just three weeks ago in British Columbia, is "a virtual clinic that patients can access for free, allowing them to see a doctor in real-time from their smartphone or desktop device."

The company's Chief Medical Officer and former CEO of Vancouver Coastal Health Authority David Ostrow, M.D., commented, "CloudMD's app allows a physician's practice to extend into virtual visits for their patients who may not need face to face interactions...Patients are able to do this without sacrificing the background medical knowledge that exists in their clinic records and with the assurance that they are getting a full range of services using CloudMD."

The company advised that it is reaching out to governmental agencies to better understand how it can best provide support services and ease demand on the healthcare system. Through the CloudMD app and online physician network, the company stated that patients can easily and conveniently receive evaluation and treatment and avoid exposure to, or spread new infections in medical clinics and hospitals waiting rooms.

The company explained that "Coronavirus (COVID-19) is a respiratory illness caused by a virus that was first identified in China and recent reports have cited it has spread to over 30 countries worldwide."

"The U.S. Centers for Disease Control and Prevention (CDC) this week encouraged people to use telemedicine services as the coronavirus outbreak spreads," stated the company. This comes at a time when the World Health Organization has not officially declared the outbreak as a pandemic though many authorities believe it to be inevitable and the focus is likely to shift from containment to mitigation.

The company's CEO Dr. Essam Hamza remarked, "We are prepared to rapidly scale our resources as needed to meet the rising demand for telemedicine services...Our services can make an impact by providing triaging, support, information and medical advice for a worried public."

The company listed that it has an ecosystem of 315 clinics with more than 3,000 licensed practitioners and nearly 3 million registered patients.

The firm advised that it will provide additional updates in the coming weeks as the situation develops.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with CloudMD Software & Services Inc. Please click here for more information.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of CloudMD Software & Services Inc., a company mentioned in this article.
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