CloudMD Software & Services Inc. (CloudMD), a telehealth company seeking to revolutionize the delivery of health care to consumers, announced it has signed a binding term sheet to acquire 100% of Snapclarity Inc. Financial terms of the transaction have not been disclosed.
Snapclarity’s on demand digital platform provides an assessment for an individual’s personal risk of mental health disorders resulting in a personalized care plan, access to online resources, a clinical health care team, and the ability to match to the right therapists. Snapclarity’s product offering is a connected, collaborative model that leaves individuals feeling empowered, motivated, and supported throughout their entire treatment journey.
CloudMD’s acquisition of Snapclarity will create the first and only Canadian telemedicine company that provides a top-tier digital primary care solution integrated with a clinically proven digital mental health care plan. The combination of these two facets of health care addresses an emergent market demand from direct conversations, market intelligence with enterprise clients, insurers, governments, and other payers.
CloudMD is digitizing the delivery of health care by providing consumers with access to all points of their care from their phone, tablet, or desktop computer. The Company offers SAAS based health technology solutions to medical clinics across Canada and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence.
Snapclarity was founded on the belief that they could remove barriers to care in the system, such as wait times, late identification, and accessibility to treatment — ultimately improving mental health outcomes. Driven by their goal to create a preventative mental health care platform and improve the coordination of mental health through innovation and technology, they’ve revolutionized how mental health benefit solutions work.
This was reported by GlobeNewswire on July 16, 2020.