CloudMD to Acquire MindBeacon, One of North America’s Leading Clinically-Validated iCBT Solutions
Channel: RICH TV LIVE
Date: 2021-11-16

CloudMD to Acquire MindBeacon, One of North America’s Leading Clinically-Validated iCBT Solutions - RICH TV LIVE - November 16, 2021 - #doc #news #richtvlive #mindbeacon #business #investing #stocks #money - CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (“CloudMD”) and MindBeacon Holdings Inc. (TSX:MBCN) (“MindBeacon”), jointly announce they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) under which CloudMD will acquire all of MindBeacon’s issued and outstanding common shares for a combination of cash and shares valued at approximately $116 million.  Under the terms of the Arrangement Agreement, each common share of MindBeacon will be exchanged for $1.22 of cash and 2.285 common shares of CloudMD (the “Exchange Ratio”). The implied offer price of $4.78 and premium of 49% is based on the 7-day volume weighted average price (“VWAP”) of the common shares of MindBeacon as of November 12, 2021. 

MindBeacon is a leading digital mental healthcare platform that provides a continuum of care, focusing on iCBT, which is an effective therapy provided through a computer or a mobile device. iCBT has become a fast-growing intervention channel compared to conventional psychotherapy. MindBeacon’s platform provides a cost-effective, stigma-reducing avenue to deliver mental health therapy that complements CloudMD’s holistic, integrated offering. MindBeacon has established relationships across a broad spectrum of B2C and B2B distribution channels, including healthcare providers, employers and governments. MindBeacon delivers positive outcomes, with 82% of iCBT clients reporting self-improvement in mental health, and 67% reporting clinically significant improvement.

Combined digital health platform will be one of North America’s leading fully-integrated health offerings, with a clinically-validated, broad continuum of care to address mild, moderate, acute and chronic mental and physical care
CloudMD’s already established mental health platform offering assessment and navigation paired with MindBeacon’s clinically-proven iCBT and other solutions provide users with streamlined access to effective stepped care
CloudMD’s Digital Health Services division and network of over 20,000 regulated healthcare professionals complements and accelerates the adoption of MindBeacon’s “Beacon in a Box” white label internet-based cognitive behavioural therapy (“iCBT”) SaaS offering
Accelerates U.S. expansion through additional capabilities, modalities, cross selling synergies and MindBeacon’s recent acquisition of a U.S.-based mental health provider
One of the fastest growing healthcare segments, the global behavioural healthcare market is expected to grow to US$242 billion by 2027, with CAGR growth of 5.02% between 2020 and 2027[1]
Adds scale and strengthens CloudMD’s financial profile – combined company will have annualized revenues of approximately $185 million (a 19% increase from CloudMD’s current revenue run rate of $155 million), as well as improved gross margin of 35%
CloudMD to offer $4.78 in cash and share consideration per MindBeacon share, resulting in an implied purchase price of $116 million
The implied transaction enterprise value is approximately $62 million, representing an enterprise value to 2022 expected revenue multiple of 1.9x
CloudMD is projected to have cash on hand exceeding $60 million, post-close

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