MIAMI & TORONTO--(BUSINESS WIRE)--XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations and mobile solutions specifically for service industries including hospitality, personal care and service staff today announced that the Company closed a partner agreement with Virtual Health Care Provider CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF) (“CloudMD”), enabling them to offer on-demand health care and mental health support to their 200,000 Today Program members.
The Company notified employers of the offering via an internal message yesterday and had opt-ins of 70 locations representing close to 5,000 service workers. Individual members will also have the opportunity to opt-in directly through their Today Financial app.
“We are committed to helping to inspire today’s service workers,” said Marilyn Schaffer, XTM, CEO. “Financial wellness is closely linked to physical and mental wellness and to this end, we are thrilled to add virtual health care to our portfolio of inspirational offerings. Helping reduce absenteeism, improve productivity and lessening the anxiety associated with waiting in a walk-in clinic, for example, with your child while you’re supposed to be on-shift are all benefits we want the Today employer and member to embrace. We worked hard to find a partner that would support the mental health aspect of wellness, and enable us to offer this for a small monthly fee that is less than many people spend on a single latte. We found that in CloudMD.”
“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 (“GP”) appointment.”
The new partnership will enable 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.
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions to the completion of the private placement, the receipt of the approval of the Canadian Securities Exchange, and the lack of material changes to general economic, market and business conditions. The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.
