With an ecosystem of over 100,000 patients, CloudMD is committed to best in class data protection and privacy.
CloudMD is undergoing rapid growth as patients turn to telemedicine at a never before seen rate and ensuring their personal information is secure, is a pillar of the Company’s business.CloudMD is making a CAD$100,000 investment in Privacy Horizon Inc., a Canadian leader in data protection for the healthcare and financial services industry.VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) — CloudMD Software & Services Inc. (CSE: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telemedicine company revolutionizing the delivery of healthcare to patients, is pleased to announce that it has appointed Patrick Lo, a leading expert on data protection and regulatory privacy matters for the healthcare sector in North America, as a Strategic Advisor.Patrick will act as a Strategic Advisor to the Company’s Corporate Development and Risk Management Committee, which was recently formed to ensure customers and patients are provided with the very best in critical oversight of data protection and privacy matters. The formation of the committee is an important step as CloudMD continues to expand its business across North America through acquisitions and capitalizes on its extensive technologies in provinces such as British Columbia, Alberta, Ontario, and more. Members of the committee include the Company’s Chairman, CEO, President, COO, CFO and SVP, Corporate Development, Ontario.CloudMD is committed to ensuring best practices within data protection and privacy matters as it continues to rapidly grow its patient base both organically, as a result of the accelerated adoption of telemedicine, and through acquisitions. As the Company continues to execute on its growth strategy and deploy new proprietary technologies, it’s especially important that key stakeholders, customers and patients have access to the best resources available to continue managing the protection of personal health information.Patrick brings over 20 years of experience in the field of information privacy and security. He has held a number of executive positions in the public and private sectors focused on the development and implementation of privacy and data protection programs. Currently, Patrick is CEO of Privacy Horizon Inc. and is responsible for developing the Company’s PHI Framework™ (product) and strategic roadmap for providing privacy compliance expertise and practical solutions to early stage, small and medium size healthcare companies.Patrick is also an instructor with the National Institutes for Health Informatics (NIHI) and a faculty member of Digital Health Canada, providing privacy and security education instruction to individuals preparing for the Health Informatics certification exam. He is also one of the instructors for the McMaster University ePrivacy certificate program and Cybersecurity course. Patrick is a Certified Information Systems Security Professional (CISSP) and a Certified Information Privacy Professional/Canada (CIPP/C).As part of CloudMD’s commitment to data protection and privacy within the healthcare sector, the Company has also invested CAD$100,000 into Privacy Horizon Inc. in a convertible debenture private placement. Led by Patrick Lo, Privacy Horizon is a data privacy service provider for small and medium sized businesses in the healthcare and financial services sectors. Through the PHI Framework™, PHI provides the tools, training, and other risk management resources needed to enable organizations to build privacy and security controls into their products and services. The investment represents the importance of privacy and security across CloudMD’s platform and being strategic investors in Privacy Horizon gives the Company access to the PHI Framework™ and additional resources to ensure best in class privacy and security controls.Dr. Essam Hamza, CEO of CloudMD commented, “We are experiencing rapid growth and are thrilled to welcome Patrick as a Strategic Advisor. His experience in data protection and privacy will be extremely valuable as we continue to grow our patient base due to the accelerated rate of telemedicine adoption. Establishing the Corporate Development and Risk Management Committee was an important step for CloudMD as one of our key priorities is having best in class privacy standards across all our telemedicine solutions. Having a committee, with expertise and advice from Patrick, will allow us to maintain and exceed Provincial, State and Federal standards.”Patrick Lo commented, “I am looking forward to working with Mark Kohler, Dr. Hamza, and the rest of the executive committee, to ensure CloudMD builds on its leading position in delivering world class healthcare technologies to its customers. While cyber security is now a baseline activity in any Company’s operations and can be readily procured, it is the appreciation and application of complex privacy regulations and the different approaches used by the North American jurisdictions in which we operate that will enable CloudMD to continue as the leading trusted provider of healthcare technology, and successfully increase shareholder value through its expansion plans.”The Company also announces it has engaged Native Ads, Inc. (“Native Ads”) to provide strategic digital media services, marketing, and data analytics services. The Company has agreed to pay the agency CAD$100,000 in consideration for the services provided. Native Ads will not receive any securities of the Company as compensation for their services.About CloudMD Software & ServicesCloudMD is digitizing the delivery of healthcare by providing patients access to all points of their care from their phone, tablet or desktop computer. The Company offers SAAS based health technology solutions to medical clinics across Canada and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence (AI). CloudMD currently provides service to a combined ecosystem of 376 clinics, over 3000 licensed practitioners and almost 3 million patient charts across its servers.ON BEHALF OF THE BOARD OF DIRECTORS“Dr. Essam Hamza, MD”
Chief Executive OfficerFOR ADDITIONAL INFORMATION CONTACT:CloudMD Software & Services Inc.
investors.cloudmd.ca
Email: investors@cloudmd.caForward Looking Statements
This news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, 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 such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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