CloudMD Acquires Aspiria For $3 Million & Launches Mental Health Support Solution

Digital health technology company CloudMD Software & Services Inc. acquired Aspiria Corp. for $3 million; Aspiria provides an integrated employee assistance program (EAP) and a student assistance program (SAP). Aspiria’s EAP and SAP deliver a comprehensive suite of mental health and wellness solutions. It currently serves over 750 organizations, and covers 1 million employees, students, and their families, in Canada and internationally. CloudMD paid $1.2 million in cash, $1.05 million in common shares, and a performance-based earnout of $0.75 million.

With the acquisition of Aspiria, CloudMD now has the fourth largest EAP platform in Canada . . .