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Digital Health & Telemedicine Firm Increases Doctor Onboarding Amid Coronavirus Worries
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CloudMD reported it's accelerating onboarding of physicians amid rising COVID-19 concerns. The firm also advised it is on track to close a new CA$3 million brokered financing on March 11, 2020.

In a news release, CloudMD Software & Services Inc. (DOC:CSE; DOCRF:OTCQB; 6PH:FSE) announced "it has increased doctor onboarding efforts for CloudMD, the company's direct-to-consumer telemedicine app, to handle the expected increased demand amidst the growing coronavirus spread."

"Officials from both the Centers for Disease Control and the World Health Organization urged hospitals and clinics to expand their use of telehealth services. Virtual care options such as video visits can be an effective way to evaluate and treat illnesses from the comfort of one's home, while minimizing exposure to other potentially contagious viruses," the company stated.

Dr. Essam Hamza, CEO of CloudMD remarked, "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."

Additionally, the company advised that its previously announced CA$3 million brokered financing offering with Gravitas Securities dated March 2, 2020, has received significant interest and the book will be closing Wednesday, March 11, 2020.

The company stated that that it offers patients access to all points of their care from their phone, tablet or desktop computer and that its CloudMD proprietary health technology solutions software facilitates delivery of quality healthcare across Canada through the combination of connected primary care clinics, telemedicine and artificial intelligence (AI). iCloudMD's healthcare ecosystem includes 315 clinics with more than 3,000 licensed practitioners and almost 3 million registered patients, according to the company.


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.
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