CloudMD Software & Services Inc.’s $116 Million Acquisition of MindBeacon Holdings Inc.

Cassels acted for CloudMD in the acquisition of MindBeacon, assisted by Osler, Hoskin & Harcourt LLP.

CloudMD Software & Services Inc. (TSXV: DOC) and MindBeacon Holdings Inc. (TSX:MBCN) had entered into a definitive arrangement agreement under which CloudMD will acquire all of MindBeacon’s issued and outstanding common shares for a combination of cash and shares valued at approximately $116 million. Under the terms of the agreement, each common share of MindBeacon will be exchanged for $1.22 of cash and 2.285 common shares of CloudMD.

CloudMD’s mental health platform, addressing all points of a patient’s healthcare journey, paired with MindBeacon’s clinically-proven iCBT will be one of North America’s leading fully-integrated health offerings, with a clinically-validated, broad continuum of care to address mild, moderate, acute and chronic mental and physical care.

Echelon Capital Markets is acting as an exclusive financial advisor to CloudMD in connection with the transaction.  D Securities Inc. is acting as a financial advisor to MindBeacon, and Credit Suisse is acting as a strategic advisor to MindBeacon, each in connection with the transaction. 

CloudMD is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care.

MindBeacon provides a continuum of mental healthcare that includes self-guided psychoeducational and wellness content, Peer-to-Peer Support, Therapist Guided Programs and Live Therapy Sessions all offered virtually through its secure and private platform. 

The Cassels’ team comprised of Frank P. Arnone, Lindsay Clements, Alexander Pizale, George A. Wowk, Stefan Politano, Maria Christodoulou, Corinne Grigoriu, Jocelyn Arnason, Stephanie Voudouris, Davit Akman, Alex Slota, Eni Silva and Stephanie Fernandes. 

The Osler team consisted of Shahir Guindi, Alex Gorka, Marisa Corona, Bhavish Beejan (Corporate), David Davachi, Taylor Cao (Tax) and Susan Newell (Health).

Involved fees earner: Davit Akman – Cassels Brock & Blackwell LLP; Jocelyn Arnason – Cassels Brock & Blackwell LLP; Frank Arnone – Cassels Brock & Blackwell LLP; Maria Christodoulou – Cassels Brock & Blackwell LLP; Lindsay Clements – Cassels Brock & Blackwell LLP; Corinne Grigoriu – Cassels Brock & Blackwell LLP; Alexander Pizale – Cassels Brock & Blackwell LLP; Stefan Politano – Cassels Brock & Blackwell LLP; Stephanie Voudouris – Cassels Brock & Blackwell LLP; George Wowk – Cassels Brock & Blackwell LLP; Bhavish Beejan – Osler Hoskin & Harcourt; Taylor Cao – Osler Hoskin & Harcourt; Marisa Corona – Osler Hoskin & Harcourt; David Davachi – Osler Hoskin & Harcourt; Alex Gorka – Osler Hoskin & Harcourt; Shahir Guindi – Osler Hoskin & Harcourt; Susan Newell – Osler Hoskin & Harcourt;

Law Firms: Cassels Brock & Blackwell LLP; Osler Hoskin & Harcourt;

Clients: CloudMD Software & Services Inc.; MindBeacon Holdings Inc;

Sonia Carcano

Author: Sonia Carcano