Stocks in play: CloudMD Software & Services Inc.

Announced that it has signed a binding agreement to acquire Oncidium Inc., one of Canada’s leading healthcare providers to employers. Oncidium has built a difficult-to-replicate ecosystem of over 500 clients, more than 1,000 health care providers and medical assessors, and its clients with over 2 million employees across the country. In consideration for the purchase of 100% of the outstanding securities of Oncidium, CloudMD has agreed to pay shareholders of Oncidium: $30 million in cash, subject to applicable working capital adjustments; $38 million in common shares of the Company at a deemed price of $2.30 per common share; and a performance-based earnout of up to $32 million over a 3 year period, which is payable in cash or common shares of the Company, at the sole discretion of CloudMD at the time of the earnout. The common shares will be subject to certain contractual restrictions on trading for a period of up to 30 months from the date of issuance. CloudMD intends to fund the cash portion of the upfront consideration with cash on hand and/or debt. CloudMD Software & Services Inc. shares V.DOC are trading up 4.85 percent at $2.16.

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