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CloudMD and XTM Bring EAP and Telemedicine to the Service Industry
Monday, May 15, 2023Company Profile | Follow Company
Victoria, BC, May 15, 2023--(T-Net)--CloudMD Software & Services (TSXV: DOC), an innovative health services company, and XTM Inc. (QB: XTMIF / CSE:PAID / FSE:7XT), a Fintech creator of disruptive payment innovations and staff management solutions, today announced a partnership to bring Employee Assistance Program ("EAP") and telemedicine to the historically underserved hospitality and service industry.
"Inspired workers are a win for employers," said Marilyn Schaffer, CEO, of XTM. "Healthcare creates a lot of noise and distraction for service workers who may have difficulty in accessing a family doctor due to scheduling and the shortage of local professional medical experts. Through our partnership with CloudMD, we dignify the service workforce by offering on-call virtual healthcare as well as short-term mental health support. This service will be offered either through employers or by Members' direct opt-in."
"Our partnership with XTM will enable us to empower their members to lead healthier lives," said Adam Kelly, EVP & Chief Commercial Officer of CloudMD. "We know the traditional healthcare system is strained, and through our EAP and telemedicine programs, we can offer faster time to care for both personal and medical challenges. Service industry workers face difficulty in accessing care due to their changing and irregular work shifts. There's no need for them to spend weeks waiting for a General Practitioner appointment."
XTM Offers CloudMD Virtual Health to its Today Program Members (Photo: Business Wire)
The new partnership will allow large chains, individual locations, or individual workers to opt-in at an attractive per-member, per-month cost, enhancing the value of being an XTM member and improving health, wellness, and productivity of participating organizations.
About XTM
XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator founded in the cloud-banking space and further helping businesses inspire their workforce in the hospitality, personal care and services staffing industries. Established as a leader in on-demand pay with many large brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation, XTM continues to innovate with further digital featurization to support businesses to inspire workers to want to work more with shift scheduling and call-outs, staff management, expense management, in-app health and financial wellness; and gamified loyalty programs. XTM's Today Financial is in use through POS and Payroll integrations and directly through web portals by thousands of businesses and their workers across Canada and the United States.
About CloudMD Software & Services
CloudMD is an innovative North American healthcare service provider focused on empowering healthier living by combining leading edge technology with an exceptional national network of healthcare professionals. Every day, our employees and health care providers live our values of delivering excellence, collaboration, connected communication and accountability to solve complex health problems. CloudMD' s industry leading workplace health and wellbeing solution, Kii, supports members and their families with a personalized and connected healthcare experience across mental, physical and occupation health. Kii delivers superior clinical health outcomes, consistent high engagement, and measurable ROI for payers such as employers, educational institutions, associations, government, and insurers. CloudMD is also a market leader in workplace absence management through data-driven prevention, intervention and return to work programs.
In addition, the Company sells health and productivity tools to hospitals, clinics, and other healthcare service providers to empower them to deliver better care. Visit www.cloudmd.ca to learn more about the Company's comprehensive healthcare offerings.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING STATEMENTS This press release contains "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities laws. Forward-looking statements in this press release include, but are not limited to, statements with respect to the impact and benefits of the transaction, the mailing of the information circular, anticipated timing for completion of the transaction and receiving the required regulatory, court and shareholder approvals. [ MORE ] |
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