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Cloud DX (CDXFF) is a prominent North American digital health platform and provider of remote patient monitoring solutions. The company saw a significant increase in total revenue, subscription revenue, and gross profit in FY2023. Cloud DX offers a Connected Health remote patient monitoring platform that is used by healthcare enterprises to manage chronic diseases, enable aging in place, and deliver post-surgical care at home. The company has secured multiple contracts with provincial health authorities in Canada, including Ontario, Yukon, Prince Edward Island, and British Columbia, highlighting its growing presence in the digital healthcare space.
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Cloud DX Inc. announces a non-brokered private placement to raise up to $2.8 million through the issuance of units at $0.12 per unit. The company may oversubscribe by an additional $500,000. Insider participation is possible, and proceeds will be used for general working capital. Investors have converted $3,187,000 CAD into common shares at $0.154 CAD per share.
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Cloud DX reports a high 2024 contract renewal rate, with 11 contracts renewed for Connected Health products and services generating $1.25 million CAD revenue. The company aims for 100% client contract renewal in Q1 2024, with 16 new contracts announced since January 1, 2024, totaling over $4.0M CAD.
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A group of investors, including board directors, converts $4.2 million in debt to shares at a premium price of $0.154/share. 97% of shares, totaling 26,411,896, are pooled and escrowed for 24 months. Shareholders can't sell unless price exceeds $0.50/share for 10 consecutive days.
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Cloud DX (CDXFF) signs a 5-year Master Deployment Agreement with the Ottawa Hospital Research Institute to provide remote patient monitoring technology for research projects, studies, and clinical trials. The agreement aims to streamline the purchase of Cloud DX Connected Health products and services for over 1,000 patients involved in various projects. Cloud DX has secured contracts worth over $2.8M CAD since January 1, 2024, and partnered with VHA Home HealthCare and Sanrai International.
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Cloud DX announces new contracts worth $2.8 million CAD in 2024, including a 24-month agreement with Dr. Lee S. Freedman for remote patient monitoring services. The agreement values at $230,000 CAD and aims to enroll 125 patients with chronic conditions. Cloud DX's gross margins are reported at 77%.
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Cloud DX partners with Sanrai International to distribute Connected Health products in 65 countries, securing over $2.5 million CAD in new business. The partnership aims to focus on chronic illness and post-surgical recovery, leveraging Cloud DX's remote monitoring technology.
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Cloud DX appoints technologist and angel investor Mr. Konstantin Othmer to the Board, replacing Mr. Neil Fraser. Othmer brings 40 years of experience in technology and investments, having worked with Apple Inc. and invested in market leaders like Android and Tesla. The appointment is subject to approval by the Toronto Venture Exchange.
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Cloud DX (TSXV:CDX)(OTCQB:CDXFF) received a purchase order for up to 300 Vitaliti™ Continuous Vital Sign Monitor Systems valued at approximately $770,000 CAD. The order includes a 50% deposit, with the balance paid on delivery in Q2 2024. The systems will be used in a groundbreaking multi-site academic study of post-surgical patients, and the company has announced over $2.5 million CAD in new business since January 1, 2024. The CEO stated that this deployment will move forward the state of the art in virtual care while also gathering data required for Health Canada and FDA regulatory approvals.
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Cloud DX Inc. (CDXFF) to participate in The Microcap Conference, with CEO Robert Kaul presenting. The event will take place on January 30, 31, and February 1, 2024, at Caesars Atlantic City Hotel & Casino in Atlantic City, NJ. Interested parties can register to attend and have one-on-one meetings with the management team.
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Cloud DX (TSXV:CDX)(OTCQB:CDXFF) announces a new contract with VHA Home HealthCare, a not-for-profit provider of home care nursing, rehab, and personal support services in Ontario. The contract includes the deployment of Cloud DX Connected Health remote care monitoring (RCM) services to a significant proportion of eligible clients, with an initial term of 24 months and mutually agreed extensions thereafter. Cloud DX also reported gross margins of 77% as of September 31, 2023.
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FAQ
What is the current stock price of CLOUD DX (CDXFF)?
The current stock price of CLOUD DX (CDXFF) is $0.084 as of May 30, 2024.
What is the market cap of CLOUD DX (CDXFF)?
The market cap of CLOUD DX (CDXFF) is approximately 8.7M.
What is Cloud DX?
Cloud DX is a North American digital health platform and provider of remote patient monitoring solutions.
What are some key highlights of Cloud DX's performance?
Cloud DX saw a significant increase in total revenue, subscription revenue, and gross profit in FY2023.
What products does Cloud DX offer?
Cloud DX offers a Connected Health remote patient monitoring platform used by healthcare enterprises to manage chronic diseases, enable aging in place, and deliver post-surgical care at home.
Which provincial health authorities in Canada has Cloud DX partnered with?
Cloud DX has secured contracts with provincial health authorities in Ontario, Yukon, Prince Edward Island, and British Columbia, showcasing its expanding presence in the digital healthcare sector.
What is the mission of Cloud DX?
Cloud DX is on a mission to make healthcare better for everyone by providing efficient remote patient monitoring solutions that improve healthcare outcomes and reduce delivery costs.
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