CloudMD Further Supports Expansion and Growth with Appointment of Global Head, Corporate Development and New Chief Financial ...
20 October 2020 - 5:38AM
CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF,
Frankfurt: 6PH) (the “
Company” or
“
CloudMD”), a telemedicine company revolutionizing
the delivery of healthcare to patients, is pleased to announce that
it has appointed Mena Beshay, the Company’s current Chief Financial
Officer (“
CFO”), to a newly created, more focused
role of
Global Head, Corporate Development, where
he will be responsible for leading the Company’s corporate
development activities which includes global mergers and
acquisitions (“
M&A”) and its organic growth
strategy. Mena’s financial and operational experience will be
valuable in leading the execution of the Company’s growth strategy,
while putting an even greater emphasis on M&A.
CloudMD has appointed Daniel Lee, an experienced
capital markets and technology financial executive as its new CFO.
Daniel’s expertise and financial operations experience are
important for CloudMD’s strategic priorities to scale and grow the
business globally with the proper financial frameworks in place.
The appointment adds strength and depth to CloudMD’s executive team
which is imperative to support the rapid growth and integration of
the business.
Daniel Lee, CFO
Daniel is an accomplished financial executive
with nearly 20 years of experience. Daniel has held senior
leadership positions for publicly-listed technology companies,
including CFO and Corporate Secretary at Photon Control, and
Director of Finance at BSM Technologies and Webtech Wireless. In
these roles, Daniel was instrumental in creating long-term
shareholder value by improving the financial performance of these
businesses, successfully completing numerous M&A transactions,
and building and transforming Finance and Accounting functions and
framework. Daniel is a Chartered Accountant, having earned his
Bachelor of Business Administration degree from Simon Fraser
University, and completed the CFO Leadership Program from the
Rotman School of Management at University of Toronto.
The Company is committed to revolutionizing and
disrupting the current delivery of healthcare with a
patient–centric approach and focus on continuity of care. As
CloudMD continues to grow, its organizational structure is taking
on a more focused approach within departments, and throughout its
leadership team. CloudMD plans to continue building out its
management team by adding proven leaders to help facilitate ongoing
integration and growth. By focusing on key areas, the Company
believes there is a significant opportunity to add shareholder and
partner value by having a defined growth strategy and seamless
integration plan.
Dr. Essam Hamza, CEO of CloudMD
commented, “We are excited to welcome Daniel to our team as CFO.
His extensive experience within the technology sector, coupled with
his expertise in successfully scaling finance and accounting
functions for growth, will be extremely valuable for us. I would
also like to congratulate Mena on his appointment as Global Head,
Corporate Development and look forward to him adding continued
value in this new role. Mena has been an integral part of our
growth over the last two years, and I thank him for that.” He adds,
“As we continue to execute our strategy, it’s absolutely imperative
for us to support the growth with strategic resources, underpinned
by a strong infrastructure. Equally important to our growth
strategy, is our continued investment in our team and the
operational framework to streamline the integration process and
manage our aggressive M&A strategy. Our business is expanding
quickly, and that requires us to focus on our organizational matrix
and key departments, starting at the leadership level. I am proud
of our team and growth to date and I look forward to the future
success under the leadership of our experienced management
team.”
About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare
by providing patients 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 (AI). CloudMD
currently provides service to a combined ecosystem of 376 clinics,
over 3000 licensed practitioners and almost 3 million patient
charts across its servers.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD" Chief Executive Officer
FOR ADDITIONAL INFORMATION CONTACT:
Julia BeckerVP, Investor
Relations julia@cloudmd.ca
Forward Looking Statements
This news release contains forward-looking
statements that are based on CloudMD’s expectations, estimates and
projections regarding its business and the economic environment in
which it operates, including with respect to its business plans and
its intended use of the proceeds of the Offering. Although CloudMD
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore,
actual outcomes and results may differ materially from those
expressed in these forward-looking statements and readers should
not place undue reliance on such statements. These forward-looking
statements speak only as of the date on which they are made, and
CloudMD undertakes no obligation to update them publicly to reflect
new information or the occurrence of future events or
circumstances, unless otherwise required to do so by law.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
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