Digital health company Well Health entered into an agreement to acquire the EHR, billing and clinical business units from CloudMD for $5.75 million.
The assets will be integrated into Well's provider solutions business unit under Well's EHR and billing platforms. The deal is expected to close in the fourth quarter of 2022, with Well expected to pay $5.1 million in cash at closing, according to the Oct. 11 news release from Well.
Additionally, Well acquired three British Columbia-based primary care clinics. The clinics have a total staff of 20 physicians and will be integrated into Well's existing primary care network.
"This transaction is a win for healthcare practitioners and their patients as it will allow software users and clinicians joining our network to have access to Well's innovative Apps.Health platform, which includes dozens of apps designed by leading third party digital health companies providing advanced physician tools such as an artificial intelligence-powered virtual assistant to premium digital patient engagement tools that can drive significant operating efficiencies for clinics," Well COO Amir Javidan said in the release.