Calian Expands Digital Healthcare and Cybersecurity Offerings with Cloud Life Cycle Management, Systems Integration Services, and Virtual Care

Calian Expands Digital Healthcare and Cybersecurity Offerings with Cloud Life Cycle Management, Systems Integration Services, and Virtual Care

by | Feb 22, 2021 | Company News, News

Calian Expands Digital Healthcare and Cybersecurity Offerings with Cloud Life Cycle Management, Systems Integration Services, and Virtual Care

Healthcare organizations have urgent need to securely modernize their digital infrastructures; Calian acquires Dapasoft to bolster capabilities and address market needs

  • Transaction represents Calian’s largest acquisition to date
  • Transaction value of up to $83M; $50M at closing represents an EBITDA multiple of 8.0x based trailing performance
  • Facilitates Calian’s next chapter of growth and expands its opportunity to further bolster the delivery of its Healthcare, IT Services and Cybersecurity solutions to its clients
  • Multiple cross-sell and up-sell opportunities across combined client base
  • Increases Calian’s recurring revenue base
  • Immediately accretive on an EBITDA and Adjusted Net Income basis

OTTAWA, February 22, 2021 – Calian® Group Ltd., (TSX: CGY) a provider of trusted products and solutions, extends digital healthcare and cybersecurity offerings through the acquisition of Dapasoft Inc, a leading provider of innovative systems integration, cloud lifecycle management and cybersecurity solutions, which enable clients to securely implement digital transformation initiatives. The acquisition adds depth and breadth to Calian’s core capabilities, thereby accelerating its go-to-market strategy in the rapidly growing digital healthcare industry.

“We see demand from organizations of all sizes to modernize their healthcare infrastructure and manage cyber risk and they are looking for a trusted partner in this endeavour.” says Kevin Ford, Calian CEO. “The addition of Dapasoft’s people, products, and services broadens and deepens the digital healthcare offerings of our IT and Cyber Solutions division.”

Michael Lonsway, President of Dapasoft adds, “The acquisition could not come at a more opportune time. Together we can scale to meet accelerated demand for migration to the cloud and virtual care. Our innovative Dapasoft Corolar Virtual Care solution meets the needs of today’s healthcare organizations and their patients, while addressing ever-evolving security and regulatory requirements.”

Dapasoft, a Microsoft Gold Partner, and its wholly owned subsidiary, iSecurity, came together in 2019 to provide full-service cloud lifecycle management and cybersecurity solutions. Their Corolar integration engine has been deployed in over 30 healthcare institutions across Canada, and their proprietary cybersecurity solutions are used by customers in healthcare, financial services and critical infrastructure across North America.

“My co-founder, Kees Pouw, and I are pleased to combine our business with Calian. Leveraging the powerful Calian brand will enable us to offer a greater range of cybersecurity solutions and managed security services to build more and deeper customer relationships,” said Raheel Qureshi, co-founder, iSecurity.

“Dapasoft and iSecurity will enable us to offer a greater range of cloud migration, cybersecurity, and managed security solutions to our entire customer base,” says Sandra Cote, President of Calian IT and Cyber Solutions (ITCS). “Calian has the bench strength to scale Dapasoft and iSecurity offerings to meet customer digital transformation demand.”

The acquisition of Dapasoft and its subsidiary, iSecurity, aligns with two pillars of the Calian growth strategy: Customer Diversification and Innovation. The definitive agreement is valued at up to CDN$83M. Amount paid on closing is $50M, consisting of $43M cash and $7M in Calian shares. Contingent consideration over two years is based on certain EBITDA growth targets ($14.5M payable in cash and $18.5M payable in Calian shares).

The combined entities generated revenues of $27M in their most recent fiscal year, with Gross Margin and EBITDA percentages well above Calian’s consolidated levels. The Company expects this transaction to be immediately EBITDA accretive.

Origin Merchant Partners acted as financial advisor to Dapasoft in connection with the transaction. CIBC Capital Markets acted as financial advisor to Calian in connection with the transaction.

As a result of this acquisition, we have updated and raised our guidance to reflect the impact of Dapasoft for the remaining seven months of our fiscal year. Our guidance also reflects one-time transaction costs associated with the completion of the acquisition.

GUIDANCE

Low High
Revenue $ 476,000 $ 516,000
Adjusted EBITDA $ 45,000 $ 49,000
Adjusted net profit $ 29,350 $ 32,650

About Dapasoft and iSecurity

Dapasoft is pioneering the future of healthcare applications and health data interoperability. Headquartered in Toronto, Dapasoft is trusted by North American healthcare providers, payors, and application developers to power their solutions every day, integrating a wide variety of EHR, EMR, and other clinical and analytics systems Dapasoft’s wholly owned subsidiary, iSecurity delivers world-class enterprise solutions that manage cybersecurity risk while addressing unique regulatory requirements and critical infrastructure. Its team is comprised of senior and fully accredited Cybersecurity Advisors (CISSP, CICA, CISM), Enterprise Architects (TOGAF, Zachman, SABSA) along with a 24/7 managed security and incident response services.

About Calian IT and Cyber Solutions

Calian’s IT and Cyber Solutions support customer requirements for subject matter expertise in the delivery of their complex IT solutions. With a primary focus on cloud migration, IT development, support services, SAP consulting and cybersecurity solutions, Calian supports customers at all levels of government and the private sector in the domestic market. Calian Cybersecurity solutions provide public and private sector organizations with the right people, processes and technology to build actionable plans and keep their environments safe and secure.

About Calian

Calian employs over 4,400 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company’s diverse capabilities are delivered through: Advanced Technologies, Health, Learning, and IT and Cyber Solutions. Advanced Technologies provides innovative products, technologies and manufacturing services and solutions for the space, communications, defence, nuclear, government and agriculture sectors. Health manages a network of more than 2,000 health care professionals delivering primary care and occupational health services to public and private sector clients across Canada. Learning is a trusted provider of emergency management, consulting and specialized training services and solutions for the Canadian Armed Forces and clients in the defence, health, energy and other sectors. IT and Cyber Solutions supports public- and private-sector customer requirements for subject matter expertise in the delivery of complex IT and cyber security solutions. Headquartered in Ottawa, the Company’s offices and projects span Canada and international markets. For further information, please visit our website at www.calian.com.

Product or service names mentioned herein may be the trademarks of their respective owners.

DISCLAIMER

Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

Dapasoft, A Microsoft Gold Partner serving healthcare, Releases Corolar Virtual Care (CVC) 2.0

by | Dec 9, 2020 | Company News, News

TORONTO, ONTARIO—(Dec 9, 2020) 

Dapasoft Inc., a trusted leader in healthcare IT providing health data interoperability and clinical systems integration, announced the release of Corolar Virtual Care, version 2.0, for the Microsoft Teams platform. Corolar Virtual Care 2.0 is a Microsoft Teams native application for providers to quickly setup walk-in and scheduled virtual visits for infectious diseases and chronic diseases. Besides virtual COVID assessment clinics, CVC is ideal for Pre-Operative clinics as health systems ramp up services for elective surgeries. 

“We are excited to release CVC 2.0 on Microsoft Teams platform,” said Michael Lonsway, Dapasoft’s President. “With upgrades such as multilingual support, on-demand appointment reminders via SMS, and integration to EHRs and scheduling systems, CVC is the quickest path for providers to roll out virtual care on Teams.  CVC reflects our commitment to serving healthcare customers on Microsoft’s fast-growing Teams platform.” 

Key Facts: 

  • Health systems can setup walk-in, scheduled, and group session virtual clinics on Teams 
  • Using CVC, providers can set up clinic specific intake forms, care pathways and users 
  • CVC supports multiple languages, including English and French, for patients and providers 
  • CVC supports multiple modes of virtual consultations – telephone or video – for each clinic 

About Dapasoft Inc. 

Dapasoft is pioneering the future of healthcare applications and health data interoperability. Headquartered in Toronto, Dapasoft is trusted by North American healthcare providers, payors, and application developers to power their solutions every day, integrating a wide variety of EHR, EMR, and other clinical and analytics systems. 

About Corolar Virtual Care (CVC) 

Corolar Virtual Care (CVC) is a virtual care solution running on Microsoft Teams platform. CVC is for acute care providers and health systems using Teams and wants to enable virtual walk-in and scheduled consultations without changing the existing patient scheduling process.   

For further information: 

Dapasoft Inc. 

Jijesh Devan, +1 416-847-4080 ext. 1070 

jdevan@dapasoft.com 

New Microsoft Teams Features To Help Reduce Stress and Improve Collaboration

New Microsoft Teams Features To Help Reduce Stress and Improve Collaboration

by | Sep 25, 2020 | Health IT, News

Microsoft showcased a string of important new updates and features for its Teams Collaboration app at the Virtual Ignite 2020 conference. These not only included user facing features such as new Together Mode backgrounds but also Teams Management capabilities that are useful for IT professionals. Here, let’s take a look at some of the Microsoft Teams features and updates coming out of Microsoft Ignite 2020:

1. New together Mode Scenes in Meetings

The feeling of isolation when working remotely can sometimes hamper productivity. Because of this, the new Together Mode scenes is designed to help participants feel closer together even when joining remotely. Using this feature, you can transport your team to a variety of settings thereby setting the tone and create good experiences for the meetings. The new together mode scenes are coming this calendar year.

2. Custom Layouts for Content

Custom layouts are designed for dynamic content viewing and providing immersive experiences for participants during the meetings. Through custom layouts in Microsoft teams, the participants will be able to see the presenter’s video feed transposed onto the foreground of the slide they are showing. These new layouts will be available later this year on Teams.

3. Meeting recap

Microsoft is elevating how participants keep a track of the work done through the meeting recap feature. Later this year, a recap with the meeting recording, transcript, chat, and shared files will be automatically shared in the meeting Chat tab and viewable in the Details tab for each meeting. The recap will also be available in the meeting event in the Outlook Calendar.

Apart from these features, Microsoft Teams will also be stacked with important well-being features and productivity insights through Workspace Analytics. Workspace analytics provide an overview of employee’s work and communication patterns to help identify actionable insights into managing their role. Incrementally, Teams will also receive emotional check-in experience and integration with Headspace, a meditation guidance app, next year. With these important changes, the personal workspace on Microsoft Teams is bound to become a little bit better.

Online Direct Appointment Scheduling Portals Lower No-Show Rates and Improve Health Outcomes

Online Direct Appointment Scheduling Portals Lower No-Show Rates and Improve Health Outcomes

by | Aug 31, 2020 | Health IT, News

Online patient portals provide improved access for patients to their health information. Many electronic health record vendors now come equipped with important administrative functions like online appointment scheduling. It not only improves access to healthcare but also promotes transparency in physician availability. It is therefore interesting that a recent study of more than 134,000 primary care visits now shows that most directly scheduled visits were done with the patient’s own primary care physician.

“Direct scheduling is intended to improve patient convenience while reducing administrative burden for practices,” wrote the researchers. “This offering may have additional benefits, especially in the primary care setting, such as promoting continuity with one’s usual primary care physician.”

“Conversely, direct scheduling might worsen disparities in access to care via the so-called digital divide,” they added.

The results, according to the study, suggest that direct scheduling could be a pivotal factor in continuity and access, which in turn are associated with better health outcomes and lower costs.

“We also found evidence that patients might find direct scheduling more convenient than usual scheduling: Most directly scheduled visits were scheduled during usual business hours, when patients could have called the office, yet chose to schedule online,” wrote the researchers.

A move towards patient portals and online scheduling applications is fiscally prudent for any healthcare organization especially considering that it also improves efficiency and engagement while lowering no-show rates. However, as the latest study notes, ‘the disproportionate use of direct scheduling by younger patients could “crowd out visit access” for older patients who may have historically decreased access to primary care.

Dapasoft recognized as the winner of the 2020 Microsoft Canada Application Innovation IMPACT Award

by | Jul 22, 2020 | Company News, News

Toronto, Canada — July 22, 2020 – Dapasoft is proud to announce it has won the 2020 Microsoft Canada Application Innovation IMPACT Award. These annual Canadian awards recognize Microsoft partners that have focused on bettering the lives of Canadians, aligned their efforts with customer excellence, and who have created innovative solutions leveraging Microsoft products, service and technology.

Michael Lonsway, President of Dapasoft, explains, “The adoption of Microsoft Teams and interest in Corolar ConnectedCare App has far exceeded any of our expectations. Until now, the market has not met Healthcare Enterprise customers’ demand for a solution that provides easy access to patient records from EHRs such as MEDITECH, EPIC, Cerner etc in Microsoft Teams.  Coupled with our Corolar Cloud solution, we are continuing to develop Corolar ConnectedCare App to fully support the needs of clinicians for care coordination and collaboration.”

Microsoft Canada presented these awards in 18 categories on July 22, 2020 at the first-ever virtual Microsoft Inspire conference. Winners were selected based on the outstanding work the companies provided to their customers and community.

“We are honoured to recognize Dapasoft for the Application Innovation IMPACT Award at this year’s IMPACT awards,” said Suzanne Gagliese, Vice President, One Commercial Partner, Microsoft Canada. “Even throughout a challenging year, Dapasoft has proven to be an outstanding partner committed to the highest levels of innovation and customer excellence empowering organizations across Canada with industry-leading solutions to achieve more.”

About Dapasoft

Headquartered in Toronto, Ontario, Dapasoft is pioneering the future of healthcare apps and data interoperability. Dapasoft’s integration platform as a service (iPaaS) on Azure enables legacy IT systems and independent SaaS apps to work together seamlessly, improving quality and cost of care. The platform has pre-built and highly customizable adapters ideal for easily building and quickly deploying custom healthcare integration solutions. Dapasoft brings over 14 years of healthcare integration expertise on HL7, C-CDA, FHIR, focused on streamlining business processes quickly and cost-effectively in the Cloud, on-premises, or a hybrid environment.

For additional information:

Jijesh Devan, Dapasoft
416-846-4080 x 1070
jdevan@dapasoft.com

Product or service names mentioned herein may be the trademarks of their respective owners.

About Microsoft Inspire

Microsoft Inspire provides Microsoft’s partner community with access to key marketing and business strategies, leadership, and information regarding specific customer solutions designed to help partners succeed in the marketplace. Microsoft Inspire provides partners with informative learning opportunities covering sales, marketing, services and technology. More information can be found at https://partner.microsoft.com/en-us/inspire.

Telehealth: A Quarter-Trillion-Dollar Opportunity for Post-COVID Era

Telehealth: A Quarter-Trillion-Dollar Opportunity for Post-COVID Era

by | Jun 3, 2020 | Health IT, News

COVID-19 has redefined the rules of the game when it comes to how healthcare is provided and delivered throughout the world. A McKinsey survey has now confirmed that telehealth visits have increased from 11% pre-COVID to almost 46% of all consumer visits (to make up for cancelled appointments and walk-ins). With this massive move to digital health, it is being projected that up to $250 billion of current US healthcare spend can be virtualized in the post-COVID era.

The provider healthcare ecosystem in North America has been on the cusp of change for some time now and it will suffice to say that COVID-19 has provided the final push for the implementation of an integrated digital health strategy. Not only does an integrated virtualized healthcare system provide improved convenience and better access to care, it also greatly improves patient outcomes and makes the care-continuum more efficient.

However, challenges related to adoption of virtual care still remain. While 76% of the consumers surveyed are now interested in using telehealth, only 46% have used it. This may be attributed to evolving healthcare needs during the pandemic, a general lack of awareness of telehealth offerings, or even ambiguity in claiming insurance coverage.

On the providers’ side, concerns about security, privacy, integration needs for existing disparate systems, and other concerns around effectiveness and financial reimbursement may impact the adoption of virtual health in the post-COVID era.

And while investments and acceleration in the use of digital health may still prove to be a watershed moment in the history of healthcare in this part of the world, there’s a long way to go before access to care through virtualized systems becomes embedded in our care delivery systems.