On December 17, 2018, Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) announced that it had signed a binding LOI to acquire all of the outstanding securities of Cloud Practice Inc. On January 10, 2019, Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) solidified this LOI by signing a definitive agreement to complete the transaction…this is a major milestone development for the company.
Premier Health (OTC:PHGRF) (CSE:PHGI) Signs Definitive Agreement for Acquisition of Cloud Practice Inc., a National Medical Software Application Company
Why could this be such a big deal for Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI)? Let’s take a look at what comes with the proposed acquisition:
Cloud Practice Products include:
- Juno EMR, a cloud-based EMR solution
- ClinicAid, a medical billing software
- MyHealthAccess, an online patient portal
Just access to Juno EMR alone would give Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) a big advantage in the market in our opinion. Juno (and now Premier) has access to a system that is currently used by 287 clinics, over 3,000 licensed practitioners, 1,500 staff and 2,870,000 registered patients – yes, nearly THREE MILLION PATIENTS.
But it gets better. ClinicAid, for example, processes upwards of $30,000,000 in payments to over 3000 health providers on a MONTHLY basis. Furthermore, the entire Cloud Practice team will also be coming over to Premier as well. In addition to their potential pharmacy acquisition, this newest buyout would give Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) immediate access to cash flow generation and earnings growth.
Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) not only has a large patient pool and a “foot in the door” with this agreement, but they’ve also got telehealth technology in place to stay at the forefront of this new market directive! Just look at what the MAJOR cannabis companies are starting to do.
“We are very excited to have completed this acquisition and to have the experienced team at Cloud Practice join the team at Premier Health. With this acquisition, we now have a medical 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.
Some Interesting Information
Simply put, size matters when it comes to the medical side of the marijuana industry. Patient portfolios are integral for capitalizing on cannabis market share and for Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI), this acquisition in addition to the other LOI that is in place could open up one of the largest patient pools in North America.
Look at “the big guys” right now:
-Canopy Growth reported 84,400 registered patients at September 30, 2016.
-In its latest financial report, Aurora Cannabis reported that it had 67,484 active registered patients and this was up from roughly 43,000 during the prior quarter.
And who are investing in these companies? Funds* like Vanguard Total Intl Stock Idx Fund, Golden Opportunities Diversified, Vanguard Developed Markets Index Fund, Vanguard FTSE All-Wld ex-US SmCp Idx Fd, iShares Core S&P/TSX Capped Compost ETF, and the two cannabis industry ETFs: Horizons Marijuana Life Sciences ETF & ETFMG Alternative Harvest ETF among others.
Why point this out? Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) has an opportunity through these acquisitions & LOI’s, to access a patient pool that reaches far beyond 3 million patients.
Comparatively speaking, how do these numbers compare to the current “market leaders”?
What Does This Deal Bring To The Table Now After This Acquisition?
- New, Expanded Operations:
- Cloud Practice Inc. products include: Juno EMR, a cloud based EMR solution; ClinicAid, a medical billing software; and MyHealthAccess, an online patient portal
- Hundreds Of Clinics, Staff & Patients:
- The Juno EMR system is currently used by 287 clinics, over 3,000 licensed practitioners, 1,500 staff and 2,870,000 registered patients
- Cloud Practice services over 60 Cannabis Clinics with over 120,000 active patients.
- Potential For Tens Of Millions From Payment Processing & Access To Thousands Of Healthcare Providers
- ClinicAid processes upwards of $30,000,000 in payments to over 3000 health providers on a monthly basis
When we talk about timing and connecting the dots, this is what we’re talking about. For Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) right now could be a pivotal point in time where the company has just completed a definitive acquisition agreement and may further be on the verge of additional deals from its other LOI; something that we believe will be a key focal point for those connecting these dots.
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