VANCOUVER, British Columbia, April 04, 2023 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), an innovative health services company transforming the delivery of care, is pleased to announce a new vendor of record agreement for Employee & Family Assistance Program (“EFAP”), Internet based Cognitive Therapy (“iCBT”), Mental Health Coach, and Nurse Navigation Services provided through Kii. The non-exclusive agreement is with Mohawk Medbuy Corporation (MMC), a not-for-profit, shared services organization supporting hundreds of Canadian hospitals with supply chain, clinical and back office services. Concurrent with the vendor of record agreement, CloudMD has signed a multi-year contract with its first hospital customer.
“Hospitals across North America are dealing with significant levels of employee burnout and need additional mental and EFAP support,” said Karen Adams, CEO of CloudMD. “Through this new Mohawk Medbuy contract, a significant number of Canadian hospitals now have access to the benefits of CloudMD.”
The agreement was established on behalf of MMC’s Member hospitals through the organization’s proven procurement process, which fully complies with Broader Public Sector directives, CFTA and CETA to ensure fairness, openness and transparency.
“Health care workers have tough jobs at the best of times, even more so in recent years. The physical and emotional toll continues to challenge them and their families, layered on with increasing staff shortages and waitlists. CloudMD’s nurse navigation integrated with our suite of mental health and EFAP services creates an easy to use platform that delivers meaningful results for our partners and their employees,” said Colin Andersen, Executive VP, Public Sector of CloudMD.
The contract also allows for the option of additional CloudMD services such as medical second opinion, absence management, short-term disability management, workers compensation claims management and employment assessments and evaluations.
About CloudMD Software & Services
CloudMD is an innovative North American healthcare service provider focused on empowering healthier living by combining leading edge technology with an exceptional national network of healthcare professionals. Every day, our employees and health care providers live our values of delivering excellence, collaboration, connected communication and accountability to solve complex health problems. CloudMD’ s industry leading workplace health and wellbeing solution, Kii, supports members and their families with a personalized and connected healthcare experience across mental, physical and occupation health. Kii delivers superior clinical health outcomes, consistent high engagement, and measurable ROI for payers such as employers, educational institutions, associations, government, and insurers. CloudMD is also a market leader in workplace absence management through data-driven prevention, intervention and return to work programs.
In addition, the Company sells health and productivity tools to hospitals, clinics, and other healthcare service providers to empower them to deliver better care. Visit www.cloudmd.ca to learn more about the Company’s comprehensive healthcare offerings.
“Karen Adams”
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws, including statements about the Company’s growth strategy and profitability. These statements are based upon information currently available to CloudMD’s management. All information that is not clearly historical in nature may constitute forward‐looking statements. In some cases, forward‐looking statements may be identified by the use of terms such as “forecast”, “assumption” and other similar expressions or future or conditional terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained in this news release are based on certain factors and assumptions made by management of CloudMD based on their current expectations, estimates, projections, assumptions and beliefs regarding their business and CloudMD does not provide any assurance that actual results will meet management’s expectations. While management considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Such forward‐looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Company’s MD&A (which is filed under the Company’s issuer profile on SEDAR and can be accessed at www.sedar.com), that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. Although CloudMD has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward‐looking statements, other factors may cause actions, events or results to be different than anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward‐looking statements. Accordingly, readers should not place undue reliance on forward‐looking information. CloudMD does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.
FOR ADDITIONAL INFORMATION, CONTACT: Investor Relations Investors@cloudmd.ca
