8th Paramedic Service Chooses Cloud DX to Launch RPM Program
Ontario paramedic group will offer Connected Health™ to vulnerable seniors awaiting long term care
News in Summary
- Funding provided through Ontario government CPLTC program
- Feedback from CPLTC participants show RPM reduces hospital readmissions
- This is Cloud DX's 8th Community Paramedicine contract to date
KITCHENER, ON / ACCESSWIRE / February 9, 2023 / Cloud DX (TSXV:CDX)(OTC:CDXFF), a leading health data platform announces a new contract with another Ontario Paramedic Service to bring remote patient monitoring (RPM) to seniors in the community.
The community paramedic group chose Cloud DX to provide Connected Health™ kits and remote monitoring services for its first ever RPM program after receiving funding through the Ontario government's Community Paramedicine for Long-Term Care program (CPLTC). The new contract will begin with 75 Connected Health™ kits plus services and has an estimated value of up to $110,000 CAD, running through March 2024.
The CPLTC program is fully funded by the provincial government to provide additional care for seniors in the comfort of their own homes before admission into long-term care. The program was piloted in October 2020 and is currently active in 33 communities. Early feedback from participating communities indicates reduction in rates of hospital admissions and an increased integration with primary care.1
Cloud DX CEO and Founder Robert Kaul says, "We are committed to working with community paramedics across Canada to end so-called 'hallway health care'. Connected Health™ remote patient monitoring is designed to provide the very best in connected healthcare with a patient-first focus. In particular, the CPLTC program is a very innovative way to efficiently optimize scare healthcare resources. We hope to see this pioneering program replicated in other provinces soon."
This is the 8th contract signed with Community Paramedics in Ontario and follows the recently announced 200% growth over four months at a previous Ontario Community Paramedicine program using Connected Health™, the Cloud DX RPM solution and data platform.
Cloud DX is pleased to have announced 5 new contracts so far in 2023, after announcing 28 new contracts and extensions in 2022, a 233% YoY increase in new business.
1 https://news.ontario.ca/en/release/1001022/ontario-expands-community-paramedicine-for- long-term-care-program
About Cloud DX
Accelerating digital healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected HealthTM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home. Our partners achieve better healthcare and patient outcomes, reduce the need for hospitalization or re-admission, and reduce healthcare delivery costs through more efficient use of resources.
Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, 2022 Top Innovator by Canadian Business, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers." Cloud DX is an exclusive partner to Medtronic Canada, Teladoc Health Canada, and Equitable Life of Canada.
Cloud DX Investor Site https://ir.clouddx.com/overview/default.aspx
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Marketing Lead 888-543-0944 [email protected]
Investor Relations Contacts
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. In particular, this news release includes certain forward-looking statements concerning the advancement of the Company's business and partnerships, the expected proceeds therefrom, regulatory approvals, as well as management's objectives, strategies, beliefs and intentions. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the Company's the ability of the Company to fulfill the terms of and derive the benefits from the contract extension. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information.
SOURCE: Cloud DX Inc.