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Oct

Dialogue accelerates virtual care market growth strategy with acquisition of Optima Global Health

MONTREAL, October 7, 2020 – Canadian virtual care leader Dialogue announced the acquisition of renowned Canadian workplace health and wellness service provider Optima Global Health. The transaction is part of Dialogue’s accelerated growth strategy, building on its proprietary healthcare technology to address increasing demands for health and wellness services for employers and their teams across the country.

Founded in 1993, Optima Global Health is a leading Canadian provider of Employee Assistance Programs (EAP), vocational rehabilitation and disability management services, with a network of more than 3,000 multi-disciplinary practitioners across the country and more than two million members. The combination of Dialogue’s innovative EAP offering combined with Optima’s 27 years of experience in the field makes it the perfect combination for Canadians to receive the quality experience they deserve.

This year has seen exponential growth in the telemedicine industry, representing an estimated $2 billion market in Canada. The Optima Global Health acquisition represents another step in expanding Dialogue’s market leadership and establishes its virtual care platform as a fully-integrated health and wellness platform for Canadian organizations. 

“Tapping into Optima’s established expertise and leadership is critical to the success of our expansion into Canada’s promising EAP market,” said Cherif Habib, Co-Founder and CEO, Dialogue. “This acquisition places Dialogue among the top EAP providers in the country and puts us in a position to introduce our innovative technology to millions of new users.”

EAPs are funded by employers and provide workers with free and confidential short-term support services, including assessments and counselling to help manage both personal and work-related challenges. With more Canadians feeling the physical and mental impacts of the global pandemic, Dialogue recently announced its intention to transform the EAP experience, with a focus on providing quicker access to virtual multidisciplinary teams of professionals and full continuity of service.

“Optima has always been at the forefront of integrated health and wellness services, and we believe this acquisition is the ultimate way for us to elevate our innovation while continuing to offer the best service to our members,” said François Laflamme, President, Optima Global Health. “We’re excited about Dialogue’s commitment to modernizing EAPs and the opportunity to continue our mission to provide a more streamlined physical and psychological wellness experience for more Canadians.”

In early 2020, Dialogue closed on the acquisition of German Occupational Health and Safety (OHS) services company ARGUMED Consulting Group GmbH, laying the foundation for expansion in European markets. Since its inception, Dialogue has achieved significant operational and technical milestones while securing financial backing from top tier investors. In 2020, Dialogue added hundreds of new employees in 100 days to meet increasing demands for virtual care services in the wake of the global pandemic.

About Dialogue Technologies Inc.

Dialogue is the leading Canadian virtual care provider pioneering online healthcare services dedicated exclusively to organizations who wish to improve the health and well-being of their members and families. Dialogue’s innovative and convenient health and wellness platform provides access to a variety of quality services including primary care, mental health and Employee Assistance Program (EAP) resources to millions of Canadians, offering a multidisciplinary approach and continuity of care.   

About Optima Global Health

Founded in 1993, Optima Global Health is known for its flagship integrated workplace health and wellness approach. Optima’s innovative programs and services help companies reduce their absenteeism-related costs and improve the health of their employees and their organization.

Through their specialization in prevention, intervention and postvention, Optima helps workers in all fields maintain or recover their health, both physical and psychological.

Optima’s integrated expertise helps them act efficiently at all levels: awareness and training, employee assistance program (EAP), manager support, disability management, disability support, early intervention, rehabilitation, healthy lifestyle habit integration, etc.

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    AI STARTUP RUBIKLOUD TO BE ACQUIRED BY OTTAWA-BASED KINAXIS FOR $81.4 MILLION CAD

    OTTAWA, ON, June 15, 2020 – Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, has signed a definitive agreement to acquire Toronto-based Rubikloud, a disruptive, emerging provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.

    Globally-recognized retailers and CPG manufacturers in the health and beauty, household and grocery segments use Rubikloud’s AI-based products today. Their offerings include demand forecasting and automation to manage and optimize trade promotions, pricing and assortment to drive product demand and dramatically improve financial results. Kinaxis will enhance RapidResponse’s demand planning capabilities with the Rubikloud offerings, anticipating initial opportunities in the company’s rapidly-growing CPG customer base and over time for other industries such as life sciences. The acquisition also offers Kinaxis a springboard into the enterprise retail industry.

    “Rubikloud has capabilities and value that we can offer our CPG customers today, leads us into the retail industry with some bellwether accounts, and adds a group of approximately 80 people to an already-impressive AI and machine learning (ML) team here at Kinaxis. Over time, this enhanced group will contribute to new and existing AI-powered capabilities across the full Kinaxis RapidResponse® platform and applications,” said John Sicard, President and CEO of Kinaxis. “This acquisition reflects the growing importance of AI and ML to power intelligent automation and augment human decision-making to better deliver on customer promises, remove waste and increase resiliency for effective risk management.”

    Rubikloud’s SaaS-based ML offerings empower retail and CPG manufacturers to transform their core operations by improving and automating complex, profit-generating decisions. Rubikloud’s proven AI capabilities and intuitive tools enable users to leverage disparate data sources to improve forecast accuracy, site-level allocations, inventory availability and promotion plans by allowing users to run boundless simulations in real time.

    “We founded Rubikloud with the belief that purpose-built AI could be used to solve some of the most complex industry problems and we have spent the last seven years building a fantastic product that receives validation from global customers every day,” said Kerry Liu, CEO, Rubikloud. “We’re excited at the prospect of joining Kinaxis, which helps us bring our innovations to a much broader customer base at a faster pace than on our own. Not only that, being two strong Canadian companies we see great cultural synergy and look forward to working on the complex problems we know RapidResponse and concurrent planning can solve for customers.”

    Terms of Agreement
    Kinaxis will acquire Rubikloud for US$60 million in an all-cash transaction that is expected to close within 60 days. Based on Rubikloud’s current revenue and expense profile, the company’s fiscal 2020 revenue and Adjusted EBITDA guidance, as reiterated in its May 6, 2020 news release, remains unchanged. The transaction is subject to customary closing conditions.

    About Kinaxis Inc. 
    Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, follow us on LinkedIn or Twitter.