KindlyMD has merged with Nakamoto Holdings to refocus its strategy around Bitcoin treasury management, backed by $710 million in new funding.
Healthcare data company KindlyMD has announced a major merger with Nakamoto Holdings. The transaction brought in over $710 million in new funding and positioned the combined firm to pilot a Bitcoin treasury management.
Merger Aims to Put Bitcoin at the Core of Global Finance
According to the announcement, KindlyMD, currently trading on the Nasdaq under the ticker KDLY, has entered into a definitive merger agreement with Nakamoto Holdings Inc., a Bitcoin BTC $119 585 24h volatility: 0.6% Market cap: $2.38 T Vol. 24h: $47.48 B native holding company founded by David Bailey.
It is worth noting that this merger comes as the largest digital asset, Bitcoin, surged past $100,000 for the first time in months.
According to the update, the deal marks a strategic shift for KindlyMD, which currently provides integrated healthcare services. While its clinics will continue to operate, the company is taking a sharp turn toward building a treasury strategy focused on Bitcoin.
hello worldhttps://t.co/UQNX71ra8r
— Nakamoto (@Nakamoto_HQ) May 12, 2025
Bailey, also the founder of BTC Inc. and UTXO Management, will take over as CEO of the merged company. He aims to create a public-facing conglomerate that uses Bitcoin as a core asset.
This new direction is part of the company’s broader effort to offer equity, debt, and hybrid financial instruments backed by Bitcoin and accessible to traditional investors.
As part of the merger, the new entity will hold Bitcoin on its balance sheet and aim to grow BTC yield per share. According to Bailey, Nakamoto wants to list Bitcoin-backed instruments on major global exchanges.
A total of $710 million has been raised to support this strategy. The package includes $510 million through a Private Placement in Public Equity (PIPE) at $1.12 per share and another $200 million via senior secured convertible notes due in 2028.
Over 200 investors from six continents participated in the funding. These include key institutional participants Arrington Capital, Van Eck, Kingsway, and ParaFi. Notable individuals such as Adam Back and Balaji Srinivasan were also involved.
Leadership Signals Bitcoin-Focused Shift
Six Nakamoto appointees and one KindlyMD appointee will be part of the new board of directors. Bailey brings deep industry experience, leading Bitcoin Magazine and organizing major conferences. His team includes seasoned executives with decades of experience in digital assets.
KindlyMD’s CEO, Tim Pickett, will continue overseeing the company’s healthcare division. The clinics will remain focused on addressing the opioid crisis with patient-first, holistic services. They are expected to operate under the same standards and staffing that built their reputation.
Both companies’ boards have unanimously approved the merger. It still requires shareholder approval and is subject to standard closing conditions. Shares will trade under KDLY until a new name and ticker are finalized.
In a related development on Bitcoin, Japan’s Metaplanet has now overtaken El Salvador in Bitcoin reserves after acquiring 1,241 BTC valued at $129 million. This marks the company’s most costly purchase, with each Bitcoin bought at an average price of $101,843.
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