Global fears of a “second wave” of the coronavirus may be starting to increase. Just weeks after the world began to reopen, we’ve started seeing new cases and hospitalizations in China, which just reported another outbreak. The country has also begun to limit travel.
India just saw another 2,000 deaths over the last day. Brazil saw 35,000 new cases of the coronavirus. In the U.S., we’re just beginning to see more cases in Alaska, Arkansas, Florida Kentucky, Mississippi, North Carolina, Oregon, South Carolina, and Utah. As that happens, the world may be forced to limit face-to-face contact even more, especially in medical settings. Now, governments around the world are supporting telehealth programs to cut back on in-person appointments in both in-patient and out-patient care settings.
"Telehealth is ideally suited to meet the demands of inpatient care while at the same time reducing virus transmission, stretching human and technical resources, and protecting patients and healthcare workers in the inpatient care setting," Duke University researchers in an article published in the Journal of American Informatics Association, as quoted by Healthcare IT News. As demand for telemedicine rises, some of the top companies leading the charge include CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF), Teladoc Health Inc. (NYSE:TDOC), Humana Inc. (NYSE:HUM), and UnitedHealth Group Inc. (NYSE:UNH).
CloudMD Software & Services Inc. (TSXV:DOC)(OTCQB:DOCRF) BREAKING NEWS: CloudMD Software & Services Inc, a telemedicine company revolutionizing the delivery of healthcare to patients, is excited to announce that it has appointed Dr. Sohal Goyal as Head of Corporate Development in Ontario. Dr. Goyal is currently the Medical Director of West Mississauga Medical and the appointment comes off the recent announcement of CloudMD’s intent to acquire a majority interest in the integrated medical clinic.
Dr. Goyal is a respected healthcare thought leader in Ontario and over his 18-year career has established a vast network of healthcare relationships. Dr. Goyal graduated from the University of Toronto Faculty of Medicine and is a Fellow of the College of Family Physicians. He is an assistant clinical professor with McMaster University Department of Family Medicine and is currently the Lead Physician of one of the largest Family Health Groups, which includes over 130 physicians. Dr. Goyal has held numerous leadership roles with the Ontario Medical Association and is currently chair of both District 5 and the local Primary Care Network. In addition, he has acted as an advisor for many public and private companies.
As part of CloudMD’s expansion plans, it is important to have a secure footprint in each major province and having Dr. Goyal on the ground, with his established network, will be extremely valuable for the Company’s future corporate development.Ontario is the largest province in Canada with a population of 14.6 million, and Dr. Goyal will lead CloudMD’s further expansion into the province. He will liaise with the Ontario medical community, Provincial Government and associations on behalf of the Company. Dr. Goyal will help identify and close strategic acquisitions and opportunities within the province. Additionally, Dr. Goyal will lead recruiting and onboarding of Ontario based physicians and allied health professionals to the CloudMD telemedicine platform.
Dr. Sohal Goyal, Medical Director of West Mississauga Medical commented, “I am excited to work closely with Dr. Essam Hamza and the CloudMD team. This role gives me the opportunity to assist in the integration of virtual medicine and the hybrid clinic model in Ontario and enhance the delivery of healthcare for patients in the province. CloudMD is a patient-centred company and I look forward to working with them to increase Ontario’s access to virtual medicine.”
Dr. Essam Hamza, CEO of CloudMD commented, “We are thrilled to welcome Dr. Goyal as Head of Corporate Development in Ontario. His expertise, and network of healthcare relationships will be extremely valuable for us as we continue our rapid expansion in Ontario and across North America. Our goal is to provide a strong, centralized patient base and footprint across the country, and having Dr. Goyal deeply-rooted in the Ontario Healthcare sector will greatly help us in achieving our goal. Dr. Goyal’s integrated, patient-centric approach to delivering healthcare aligns well with CloudMD’s strategy and we look forward to working together moving forward.”
Pursuant to the policies of the TSX Venture Exchange and the terms of the contractor services agreement (the “Agreement”) with Dr. Goyal, the Company will issue $500,000 in common shares of the Company to Dr. Goyal which equates to 699,301 common shares (the “Shares”). The Shares issued are subject to escrow over a 2-year period and will be released on a quarterly basis. The deemed price of the Shares is $0.715, which was calculated by using the volume weighted average closing share price on the last 10 trading days prior to the date of the Agreement.
All securities issued pursuant to the Agreement remain subject to the approval by the TSX Venture Exchange.
Other related developments from around the markets include:
Teladoc Health Inc. (NYSE:TDOC) announced that it is providing a range of free mental healthcare services, training, and outreach resources to help support the needs of the Black and African American community. The company’s commitment includes $250,000 in direct initiatives and contributions to community-based organizations made available through Teladoc Health’s direct-to-consumer mental health brand, BetterHelp. In addition to providing immediate access to services, the efforts announced will also address known disparities in access to care by supporting further strengthening of mental health infrastructure within the Black and African American community. “As our society moves to confront racial injustice, hatred and violence, we remain committed to standing up for equality and playing a role in driving positive change,” said Jason Gorevic, chief executive officer, Teladoc Health. “Consistent with our values, creating greater access to mental health services for the Black and African American community is a first step in countering disparities that have persisted for too long.”
Humana Inc. (NYSE:HUM) announced new actions it is taking to support participating dental providers – to help them afford the increased costs of doing business during the coronavirus (COVID-19) pandemic. As of June 1, and as more and more dental practices reopen, Humana will pay an additional $7 per Humana member dental claim – for all fully insured Humana dental members.* “Humana understands how the pandemic has impacted so many of the dental practices we work with, and it’s important to us to support them as so many are in the midst of reopening their practices,” said Chris Hunter, President, Humana’s Group & Military Segment. “Our goal with the new actions we are taking is to help ensure that our dental provider partners can afford the Personal Protective Equipment they need to safely treat their patients – our Humana members.”
UnitedHealth Group Inc. (NYSE:UNH) announced a commitment to support Mr. Floyd’s family, help Minneapolis-St. Paul businesses restore operations, and fund efforts to advance equality and inclusivity in the Twin Cities community. In all, UnitedHealth Group and its team members will donate $10 million and 25,000 volunteer hours in response to Mr. Floyd’s tragic death and the ensuing civil unrest. “George Floyd’s death is an unspeakable tragedy. Communities all across America are struggling to make sense of what’s happened and how we as a society pull together to move forward, heal, learn and grow,” said David S. Wichmann, chief executive officer of UnitedHealth Group. “The 325,000 people of UnitedHealth Group remain steadfast in our commitment to not only build a culture of inclusivity and diversity within our own organization, but to ensure our actions help create a more equitable society for the people we serve.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and CloudMD Software & Services Inc., Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for CloudMD Software & Services Inc. We own ZERO shares of CloudMD Software & Services Inc. Please click here for full disclaimer.
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