(MENAFN- Baystreet.ca) 10:22 AM EST - CloudMD Software & Services Inc. : Announced that it has entered into a Binding Term Sheet to purchase a majority interest in Benchmark Systems Inc., a leading cloud-based provider of fully integrated solutions that automate healthcare workflow processes including revenue management, practice management and electronic records management. CloudMD will purchase 87.5% of Benchmark from Benchmark's parent company and global healthcare and AI leader, AntWorks Inc. AntWorks will retain a 12.5% equity stake and remain a strategic partner for CloudMD both in the U.S. and globally. In consideration for the purchase of 87.5% of the outstanding securities of Benchmark, CloudMD has agreed to pay shareholders aggregate consideration of US$4,375,000 payable in cash. CloudMD Software & Services Inc. shares V.DOC are trading up 6 cents at $2.15.
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