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Cloud DX Signs Record-Breaking 20th Contract, on Pace to Double Sales in 2023

Monday, 24 July 2023 10:15 AM

Cloud DX Inc.

News in Summary

  • Western Canadian primary care group awards a new Remote Patient Monitoring (RPM) contract to Cloud DX after a competitive procurement process.
  • The initial deployment of Cloud DX Connected Health will begin with 150 patients in 2 of 12 locations and is expected to grow as additional locations take part.
  • With 20 new contracts or contract expansions announced so far in 2023, the Company expects to approximately double its sales performance versus 2022.

KITCHENER, ON / ACCESSWIRE / July 24, 2023 / Cloud DX (TSXV:CDX)(OTC:CDXFF), a rapidly scaling North American provider of remote patient monitoring services is pleased to announce that it has been awarded a competitive contract by a leading network of 12 primary care clinics in Western Canada to provide its Connected Health™ Remote Patient Monitoring Platform in the region.

This collaboration with primary care physicians will expand the availability of remote patient monitoring to seniors suffering from chronic illnesses such as heart failure, hypertension, COPD, and diabetes. Over 5 million Canadians have been diagnosed with 1 or more of these conditions (Health Infobase Canada).

Published, peer-reviewed research* proving that Cloud DX technology improves patient outcomes, reduces ER visits, decreases the length of hospitalizations, and significantly enhances the provision of care in rural communities contributed to this successful public tender.

The initial stage of the program will enroll up to 150 patients by prescribing Cloud DX Connected Health Kits, patient subscriptions, and extensive support services at 2 locations. The client clinic network expects the deployment to grow across additional locations in the future as patient outcomes improve.

"We're honored to be a partner in advancing healthcare in Canada and excited to see the positive impact that the expanded home monitoring program running on the Cloud DX platform will have on the lives and health outcomes of the patients involved. This program will improve access to care and health equity within the region while driving efficiency into caring for some of the country's most complex and vulnerable patients." stated Anthony Kaul, Co-founder and COO of Cloud DX.

Underlining the accelerating growth in demand for virtual care and remote monitoring, Cloud DX has now announced 20 new contracts or extensions in 2023 year-to-date, representing an impressive increase in sales and revenue compared to 2022.

About Cloud DX

Accelerating digital healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected Health™ 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, winner of "2022 Top Innovator" from 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 leading hospital procurement agent Mohawk Medbuy.

* "Post discharge after surgery virtual care with remote automated monitoring technology" (PVC-RAM) study, McGillion et al, BMJ 2021:374:n2209 Sept 20; "Technology-Enabled Self-Management of Chronic Obstructive Pulmonary Disease", Stamenova et al, JMIR, July 2020; "Evaluating the Use of Mobile Health Technology in Older Adults with Heart Failure", Lefler et al, JMIR-Aging, April 2018.

Cloud DX Investor Site

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.

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Cloud DX Inc., Monday, July 24, 2023, Press release picture

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For media inquiries please contact:

Marketing Enquiries
Phone 888-543-0944
[email protected]

For investor inquiries please contact:

Jay Bedard (Canada)
Cloud DX Investor Relations
Phone 647-881-8418
[email protected]

Gary Zwetchkenbaum (USA)
Plumtree LLC
Phone 718-224-3123
Cell 516-455-7662
[email protected]

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 terms of the contract extension, the expected proceeds therefrom, 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.

À propos de Cloud DX

Accélérant les soins de santé virtuels, Cloud DX a pour mission d'améliorer les soins de santé pour tous. Notre plateforme de surveillance à distance des patients Connected HealthMC est utilisée par des entreprises de soins de santé et des équipes de soins partout en Amérique du Nord pour gérer virtuellement les maladies chroniques, permettre aux gens de vieillir chez eux et fournir des soins post-chirurgicaux de qualité hospitalière à domicile. Nos partenaires obtiennent de meilleurs résultats pour les soins de santé et les patients, réduisent le besoin d'hospitalisation ou de réadmission, et réduisent les coûts de prestation des soins de santé grâce à une utilisation plus efficace des ressources. Cloud DX est co-lauréate du prix Qualcomm Tricorder XPRIZE, lauréate du prix Edison 2021, finaliste du concours « World Changing Idea » de Fast Company et un des dix plus importants fournisseurs de télésanté au Canada.

Site des relations avec les investisseurs de Cloud DX

La Bourse de croissance TSX et son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'assument aucune responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.

Tous les énoncés prospectifs sont assujettis à des risques et à des incertitudes, tels que ceux décrits dans les rapports périodiques de Medtronic déposés auprès de la Securities and Exchange Commission. Les résultats réels peuvent sensiblement différer des résultats anticipés.

SOURCE: Cloud DX Inc.

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