Premier Health Announces Closing of Cloud Practice Inc.. Acquisition


Premier Health Group Inc. (CSE: PHGI, OTCQB: PHGRF, Frankfurt: 6PH) (the “Company” or “Premier Health”-RRB-, a Company focused on developing innovative approaches that unite human skill based expertise with emerging technologies for the healthcare industry, is pleased to announce, further to its news release dated January 10, 2019, the Company has acquired all the outstanding securities of Cloud Practice Inc. (“Cloud Practice”-RRB-.

Cloud Exercise ’s founders, including CEO Jordan Visco, and complete support group, comprising several software developers and sales staff, will combine and work together with the Premier Health team to offer resources and tools providing for improved efficiency on a day-to-day foundation for both doctors and customers. Cloud Practice ecosystem and the combined Premier consists of patients.

“We are very excited to have completed this acquisition and to have the group is joined by the experienced team at Cloud Practice at Premier Health. With this acquisition, we now have a software company with national reach. Thus, enabling us to build on our patient centric technology platform that will integrate telemedicine, online booking and other premium services with our electronic medical records (EMR) system,” said Dr. Essam Hamza, CEO of Premier.

CEO of Cloud Practice, jordan Visco, said: “We are thrilled to be joining a progressive group such as Premier Health. We are focused on delivering quality service to Canada’s healthcare industry and we are confident that with rsquo Cloud Practice &; s offerings long-term vision and expertise, we can achieve success. ”  

In consideration for the acquisition of all the outstanding Cloud Practice securities, Premier will pay to the Cloud Practice shareholders total consideration of up to $5 million, $2 million dollars in cash to be paid out as follows: (I) $500,000 paid in cash on signing of the binding LOI as a refundable deposit, (ii) $500,000 in cash payable on closing, (iii) $500,000 in cash payable 90 days after closure, (iv) $500,000 in cash payable within six months of this LOI subject to the satisfaction of certain milestones related to the integration of the Juno EMR, and $3 million payable in common shares of Premier at a deemed price of $0.76 per share.

All shares issued in the transaction are subject to a restricted period of one day and four weeks. There were no finder&rsquo fees paid in connection with the Transaction.


Chief Executive Officer

Premier Health is a company that is strategically poised to take advantage of business opportunities in the healthcare industry that is worldwide. We are developing health care approaches that unite human skill based expertise with technologies that are emerging, with the objective of setting the gold standard for solutions in locations of interest globally. Premier Health’s subsidiary, HealthVue is focused on developing proprietary technologies to deliver quality health care through the combination of connected main care clinics with telemedicine and artificial intelligence (AI). We have an ecosystem of over patients and also have plans to rapidly increase that number both domestically and globally. The HealthVue group has a strong track record of successfully creating value in health care and technology enterprises. The Management team has a passion for improving health care for all patients and profound financial, clinical and operational expertise.

About Cloud Exercise

Cloud Practice is a software solutions company focused on streamlining practice. They offer three products including MyHealthAccess, ClinicAid and Juno EMR. Juno EMR, a modified branch of an open-source electronic medical records (EMR) software which was originally released by McMaster University, is hosted in the cloud and can be accessed anywhere, anytime. ClinicAid is Canada’s medical billing program that is easiest. MyHealthAccess is an online patient portal which puts patients back through connecting with appointments and their practices online.

This news release includes forward-looking statements which derive from Premier Health’s expectations, estimates and projections concerning its business and the economic environment in which it operates, including with respect to its business plans, completion of its acquisition of Cloud Practice, and the timing thereof, the anticipated benefits to the Company after the integration of Cloud Practice’s software and the anticipated implementation of new software, including the timing thereof, the expect growth to Cloud Practice’s business and the expected synergies resulting from the Company’s acquisition of Cloud Practice. Although Premier Health believes the expectations expressed in these forward-looking statements are based on assumptions that are reasonable, 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 these statements. These forward-looking statements speak only as of the date on which they’re created, and Premier Health undertakes no obligation to update them to reflect the occurrence of circumstances or future events or new information, unless required to do so by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. 
Mail: [email protected]

Released at Tue, 29 Jan 2019 13:28:26 +0000

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