Cloud DX Expands Contract with Ontario Hospital

Rhea-AI Summary

Cloud DX has signed an expansion contract valued at $76,000 CAD with an Ontario hospital to provide remote monitoring services for an additional 100 cardiac patients. This new agreement follows the initial deployment of Cloud DX's Connected Health™ program earlier this year. The contract represents the 26th agreement for Cloud DX in 2022, reflecting a 216% increase from 2021. The company continues to grow its partnerships and expand its services within the Canadian healthcare sector.

Positive

• Expansion contract valued at $76,000 CAD enhances revenue.
• Increase of 216% in contracts signed in 2022 compared to 2021.
• Expansion into cardiac care market supports growth strategy.

Negative

• None.

Cloud DX Expands Contract with Ontario Hospital

Additional deployment of Connected Health™ kits for initial 100 cardiac patients

News in Summary

• Cloud DX grows its Connected Health™ deployments at Ontario hospital, adding Cardiac patients alongside existing chronic care program
• The contract, valued at $76,000 CAD, will use virtual care equipment within the hospital's existing environment and purchase additional Connected Health™ kits to serve an initial goal of 100 patients
• Cloud DX's partnership channel continues to grow; this is the second contract with one its leading Canadian partners

KITCHENER, ON / ACCESSWIRE / December 13, 2022 / Cloud DX (TSXV:CDX)(OTCQB:CDXFF), a leading Virtual Care platform, along with one of its global healthcare leader partners, signed an expansion contract with an existing Ontario hospital client to provide remote patient monitoring to an additional 100 cardiac patients. This contract follows a successful initial deployment of Cloud DX's Connected Health™ remote patient monitoring program earlier this year. The 12-month contract value is estimated at $76,000 CAD and includes the procurement of new Connected Health™ kits in addition to the refurbishment of the hospital's existing third-party devices.

"The Ontario healthcare landscape is important to us as a Kitchener, ON based MedTech company," stated Cloud DX COO and co-founder Anthony Kaul. "We're excited to expand our remote patient monitoring services to a growing number of cardiac patients in our community. Cloud DX embraces the quadruple aim in healthcare innovation: making care better for patients, for providers, saving money and improving outcomes at the community level. We're honored to be a leader in delivering virtual care in our local community, across Canada and, increasingly, in the United States."

This contract is the 26^th signed agreement for Cloud DX in 2022 to date, an increase of 216% compared to the 12 contracts signed in 2021. Notable 2022 contracts include major partnerships, US clinics, global distribution agreements, and 6 Ontario Paramedicine Program contracts.

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, 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.

For more information on Cloud DX (TSXV: CDX), visit www.CloudDX.com and follow @CloudDX on Twitter or LinkedIn.

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.}

# # #

Media Contact

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

Investor Relations Contacts

Canada
Jay Bedard
647-881-8418
Jay.Bedard@CloudDX.com

USA

Gary Zwetchkenbaum
519-455-7662
IR@CloudDX.com

SOURCE: Cloud DX Inc.

View source version on accesswire.com:
https://www.accesswire.com/731595/Cloud-DX-Expands-Contract-with-Ontario-Hospital

FAQ

What is the value of the new contract signed by Cloud DX with the Ontario hospital?

The new contract is valued at $76,000 CAD.

How many cardiac patients will Cloud DX be serving with the new contract?

Cloud DX will be serving an additional 100 cardiac patients.

How many contracts has Cloud DX signed in 2022?

Cloud DX has signed 26 contracts in 2022.

What percentage increase in contracts did Cloud DX experience in 2022 compared to 2021?

Cloud DX experienced a 216% increase in contracts in 2022 compared to 2021.

What is Cloud DX's Connected Health™ program?

Cloud DX's Connected Health™ program is a remote patient monitoring platform used to manage chronic diseases.