Cloud DX Announces 6th Ontario Paramedicine Group Contract

Rhea-AI Summary

Cloud DX has secured its sixth Community Paramedicine contract in Ontario, enhancing its Connected Health program. The latest contract aims to deploy over 1,000 monitoring kits funded by an $82 million program from the Ontario government. The initial funding for the deployment is up to $200,000 CAD over 24 months. This partnership not only aims to lower hospital admissions but also to support at-home care for vulnerable patients. An upcoming earnings call on November 16, 2022 will provide further insights into corporate initiatives and performance.

Positive

• Secured its sixth Community Paramedicine contract, expanding service reach.
• Initial funding of up to $200,000 CAD over 24 months supports deployment.
• Anticipation to deploy over 1,000 Connected Health kits by early 2023.

Negative

• None.

Ontario Paramedic Service is the fifth County to choose Cloud DX Connected Health™ to improve positive patient outcomes as part of its Community Paramedicine Remote Monitoring program

News in Summary

• As hospital-at-home and community remote monitoring programs increase in scale, Cloud DX expects to deploy over 1,000 Connected Health kits for this use case by early 2023.
• Paramedicine deployments are funded through the $82 million Community Paramedicine Long Term Care Program.
• Cloud DX has now announced 6 Community Paramedic Service contracts in Ontario, delivering services to Peterborough, Guelph Wellington, 2 contracts with Oxford, and more.

KITCHENER, ON / ACCESSWIRE / November 2, 2022 / Cloud DX (TSXV:CDX)(OTC:CDXFF), announces a new Ontario County Paramedic Service Group contract to provide Connected Health™ kits and services to vulnerable patients within the community. The award-winning Cloud DX remote patient monitoring platform is becoming standard of care for Ontario Community Paramedicine services seeking to strengthen community connections while residents benefit from greater access to much needed care.

The initial funding envelope for this deployment includes up to $200,000 CAD over 24 months. [JS1] Funding for the program comes from the $82.5M Community Paramedicine for Long Term Care program announced last year by the Ontario government.

Cloud DX COO and co-founder, Anthony Kaul says "This new partnership solidifies Cloud DX as the virtual care platform of choice for Ontario's Community Paramedicine programs. As our Connected Health™ network expands across Ontario, we're reducing the burden on the province's overtaxed 911 system, lowering hospital admissions, keeping residents in their homes longer and giving them more control of their health."

This new contract comes within weeks of Peterborough County Paramedic Group announcing Cloud DX as its partner of choice for its evolving Community Paramedicine Program. Peterborough County Paramedics Deputy Chief Craig Jones says "Our main goal is to support people in their choice to stay at home and do everything we can from a health perspective to facilitate that happening. What Cloud DX does that no other provider offered us was, they do the heavy lifting of the compliance phone calls. We don't need to make reminder phone calls to clients that forgot to take their vital signs for the day. This allows a paramedic to focus on being a clinician and ensure that our residents stay well."

Upcoming Earnings Call

Cloud DX will present Q3 earnings on November 16, 2022 at 12pm. In addition to covering the Q3 results, CEO Robert Kaul will also highlight the corporate initiatives driving momentum throughout the year as well as an update on a number of contracts, partnerships, and technology developments. Register for the call: https://bit.ly/3Nw5srR

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, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers." The company was named 2022 Top Innovator by Canadian Business. Cloud DX is an exclusive RPM partner to Medtronic (NYSE:MDT), Teladoc Health (NYSE:TDOC), CBI Health, and Equitable Life of Canada.

Cloud DX Investor Site https://ir.clouddx.com/overview/default.aspx

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For media inquiries please contact:

Janine Scott
Marketing Lead
888-543-0944
janine.scott@CloudDX.com

For investor inquiries please contact:

Jay Bedard
Cloud DX Investor Relations
647-881-8418
jay.bedard@CloudDX.com

SOURCE: Cloud DX Inc.

View source version on accesswire.com:
https://www.accesswire.com/723555/Cloud-DX-Announces-6th-Ontario-Paramedicine-Group-Contract

FAQ

What is the significance of Cloud DX's recent contract in Ontario?

The recent contract marks Cloud DX's sixth partnership in Ontario's Community Paramedicine sector, aimed at enhancing remote monitoring for vulnerable patients.

How much funding has Cloud DX received for the new contract?

Cloud DX has secured up to $200,000 CAD in funding for the deployment over 24 months.

When will Cloud DX announce its Q3 earnings?

Cloud DX will present its Q3 earnings on November 16, 2022, at 12 pm.

What is Cloud DX's goal with the Connected Health program?

The goal is to improve patient outcomes by reducing hospital admissions and facilitating at-home care for residents in Ontario.

How many Connected Health kits does Cloud DX plan to deploy?

Cloud DX expects to deploy over 1,000 Connected Health kits for community remote monitoring by early 2023.