09:29 AM EST - CloudMD Software & Services Inc. : Provided an update on its Enterprise Health Solutions Division. Since launching the EHS Division, CloudMD has seen significant organic growth and integration synergies across the platform. CloudMD closed the majority of its EHS business acquisitions in January 2021 and since then, the Company has secured $5 million in new, multi-year customer contracts for mental and physical health solutions. These recurring revenue contracts include organizations of all sizes including large corporate clients like Medavie Blue Cross. Additionally, the EHS Division has identified operational synergies by centralizing marketing, technology and finance functions, enabling a shared services approach with annual cost savings exceeding $500,000. The EHS Division is executing on market share growth, margin expansion, cross-selling and integration of capabilities. The Company expects to continue driving additional profitable, organic growth across the entire division. CloudMD anticipates the continued growth of the EHS Division, with annual pro forma revenue growth rate of over 20% and healthy gross margins exceeding 50%. CloudMD Software & Services Inc.
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