Cloud DX is Pleased to Announce $170,000 in Non-Dilutive Funding Towards Commercialization of Vitaliti and Connected Health Innovations

Rhea-AI Summary

Cloud DX has secured $170,000 CAD in non-dilutive funding to advance its AI-powered health technology innovations, including its patented Connected Health platform. The awards, including $120,000 from the Synergy Award by NSERC and $50,000 from the Ontario Centre for Innovation, will support the commercialization of groundbreaking solutions aimed at enhancing healthcare delivery. The funding will enable the company to further research the impact of remote care on patient outcomes and healthcare cost savings, reinforcing its commitment to innovative healthcare solutions.

Positive

• Secured $170,000 CAD in non-dilutive funding for research and commercialization.
• Co-recipient of the $120,000 Synergy Award from NSERC, promoting technological advancement.
• Awarded $50,000 from the Ontario Centre for Innovation, enhancing support for critical health infrastructure.
• Strong commitment to research and innovation, evidenced by a recent publication in a prestigious journal.

Negative

• None.

Kitchener virtual care leader earns competitive $50,000 award from Ontario Centre for Innovation and is co-recipient of prestigious $120,000 Synergy Award from NSERC

News in Summary

- New funding awarded for mobile health research projects totals $170,000 CAD
- Supports commercialization of patented technology, powered by AI and Augmented Reality
- Winning competitive non-dilutive funding to commercialize new products

KITCHENER, ON / ACCESSWIRE / October 23, 2021 / Cloud DX (TSXV:CDX)(OTCQB:CDXFF), Cloud DX's virtual care platform, Connected Health™, has been recognized by the Natural Sciences and Engineering Research Council of Canada (NSERC) as co-recipient of its Synergy Award of Innovation. Presented to Dr. Edwards Sykes of Sheridan College and Cloud DX, the award recognizes the company's patented ‘augmented reality' (AR) platform: ‘The Clinic of the Future', which uses comprehensive vital sign and physiological data from the Vitaliti™ continuous monitoring platform to display real-time patient information in the form of 3D holographic images, offering a fully remote, touchless yet seamless way to interact with patients. This prestigious award provides $100,000 to the college and $20,000 to Cloud DX as the co-winning private vendor to continue commercializing the Clinic of the Future.

The company was additionally just recognized by the Ontario Center of Innovation as a winner of the competitive Ontario Innovation Showcase. Of eighteen competing companies, the Showcase awarded the five winners with $50,000 in direct funding to improve and validate technology that enhances the province's critical health and security infrastructure.

"Cloud DX is very proud to accept these awards to support the commercialization of our patented innovations including Vitaliti™ and Connected Health™, in order to improve healthcare delivery across North America. Cloud DX will use this new funding to further study the impact remote care has on reducing re-admissions, generating sustainable savings for healthcare systems, and improving patient outcomes," says Robert Kaul, CEO and Founder of Cloud DX. "The NSERC and OCI awards are recognitions of Canadian technology excellence that advance our MedTech industry. Research, testing, and published, peer-reviewed studies are leading us to the future - one where we see virtual and remote care, AI, and Augmented Reality embedded throughout the healthcare delivery."

Cloud DX's recent achievements come just weeks after a previously award-winning and funded project (PVC-RAM 1) published its findings on improved outcomes of remote monitoring in the prestigious British Journal of Medicine. Cloud DX continues to strongly support research as a pillar of its business in leading and supporting health technology innovations.

Cloud DX's upcoming investor meeting is set for noon on December 8, 2021. You can register here. Leadership will discuss Virtual Care as a Platform and associated revenue streams.

About Cloud DX

Accelerating virtual 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.

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.

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https://www.accesswire.com/674351/Cloud-DX-is-Pleased-to-Announce-170000-in-Non-Dilutive-Funding-Towards-Commercialization-of-Vitaliti-and-Connected-Health-Innovations