CLOUD DX INC - CDXFF STOCK NEWS

Cloud DX Inc. (TSXV:CDX) has announced that insiders holding around 33% of shares will extend their lock-up agreements until October 31, 2022. This voluntary action reflects confidence in the company's growth, as stated by Lead Director Brad Miller. Recent developments include securing $131,000 from the NB Health Research Foundation and new partnerships with Medtronic Canada and others, enabling access to up to 2 million patients. The company aims to achieve EBITDA positivity with a target of 10,000 enrolled patients.

Cloud DX Inc. has updated the terms of its private placement of Convertible Debenture Units, aiming to raise up to $3.45 million. The offering involves 3,000 units priced at $1,000 each, with a potential additional 450 units. Each unit consists of a $1,000 principal amount unsecured convertible debenture and 1,430 warrants. The debentures will mature in 36 months at a 10% interest rate. Proceeds will fund sales, marketing, R&D, and general operations, pending approval by the TSX Venture Exchange.

Cloud DX has secured a funding partnership with the New Brunswick Health Research Foundation (NBHRF), receiving $131,902 to support the clinical evaluation of its Pulsewave 2.0 non-invasive vital sign monitoring device.

This funding will facilitate ongoing R&D for clinical calibration and validation trials at Horizon Health Network. The results aim for Health Canada licensing and FDA clearance, positioning Pulsewave 2.0 as a leading wrist cuff for accurate pulse rate, blood pressure, and respiratory rate measurements in various settings.

Cloud DX has expanded its Patient-First™ program by signing contracts with three new clinics in Illinois for Remote Patient Monitoring (RPM). This partnership with Maxwell Telecare increases the total to five clinics within three months. With RPM potentially impacting 33% of American adults, Cloud DX anticipates approximately $900 CAD in annual recurring revenue per patient under current reimbursement codes. The company aims to achieve cash flow positivity with around 10,000 RPM patients enrolled.

Cloud DX has announced a brokered private placement agreement with Echelon Wealth Partners for up to 3,000 convertible debenture units, aiming to raise up to $3 million. Each unit consists of a $1,000 principal amount unsecured convertible debenture maturing in 36 months with a 10% annual interest rate, and 1,250 common share purchase warrants. The funds will support sales, marketing, research, and general operations, with estimates to close the offering around January 18, 2022. TSXV approval is pending.

Cloud DX has secured a multi-year contract with an Ontario clinic to provide its Connected Health™ platform for at-home pulmonary rehabilitation. Commencing in January 2022, this initiative addresses the rising demand for safe rehabilitation due to chronic obstructive pulmonary disease (COPD) and lasting COVID-19 symptoms. The program includes vital sign monitoring and education for up to 78,000 patients annually. Cloud DX aims to enroll approximately 10,000 patients to reach its break-even goal.

Cloud DX has been selected as the Remote Patient Monitoring (RPM) platform for Hamilton Health Sciences (HHS) Surgical Transitions program, monitoring 200 surgical patients monthly. The program aims to enhance post-surgical outcomes, leveraging Cloud DX's Connected Health™ platform. This initiative follows a successful national study demonstrating the benefits of virtual care. As Cloud DX targets cash-flow positivity at 10,000 monitored patients, this partnership positions it as a pioneer in remote monitoring in Canada.

Cloud DX has announced validation of its Vitaliti™ continuous monitoring wearable through a peer-reviewed study, essential for the ~800,000 surgical patients in Canada annually. The device is compliant with ISO 81060-2:2018, paving the way for regulatory approval in 2022. This technology supports continuous monitoring, allowing timely interventions post-surgery to enhance patient outcomes. A partnership with Medtronic aims to broaden deployment, significantly impacting patient care. CEO Robert Kaul emphasized the innovation in post-surgical monitoring, addressing critical health changes during recovery.

Cloud DX has entered an exclusive agreement with Medtronic Canada to provide advanced virtual healthcare solutions across Canada. This partnership aims to enhance patient outcomes and reduce healthcare costs, leveraging Cloud DX's remote patient monitoring technology. The deployment will involve chronic care and surgical patients using the Connected Health platform, generating recurring revenue through initial kit sales and monthly subscriptions. Medtronic's engagement reflects its commitment to supporting Canada's healthcare system and improving patient care.