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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.
Cloud DX has been selected as one of five leading investment opportunities at the ONE2ONE Investors Forum, hosted by Proactive Events on April 25, 2022. Attendees will have the unique chance to engage with the management team and learn about the company's growth strategies. Cloud DX is a prominent player in the Virtual Care sector, focusing on remote patient monitoring and healthcare solutions. The firm aims to enhance healthcare outcomes while reducing costs, positioning itself as a key innovator in the industry.
Cloud DX (CDXFF) has secured a new contract with a Paramedic Service Provider in Ontario to enhance Remote Patient Monitoring (RPM) for local patients. The initiative is partly funded by the Ontario government's Paramedicine for Long-Term Care program. Cloud DX's Connected Health kits aim to reduce hospitalizations by enabling proactive healthcare delivery. COO Anthony Kaul emphasized the benefits of RPM in minimizing healthcare system strain and improving patient outcomes. Cloud DX continues to innovate in virtual healthcare, partnering with various healthcare providers across North America.
Cloud DX has secured a new contract with a primary care clinic in Erie, Pennsylvania, expanding its Chronic Care Management solutions. With this addition, Cloud DX now has a total of 15 contracts signed in 2022. The clinic serves over 1000 patients with chronic conditions out of a total of 2500 patients. The implementation of Connected Health™ kits will enhance remote monitoring and patient support, aimed at improving outcomes and reducing hospital visits for chronic illness patients.
Cloud DX (CDXFF) has partnered with Sheridan College to advance the Clinic of the Future project, backed by a federal grant from NSERC. This collaboration focuses on developing mobile health and machine learning technologies, aimed at enhancing healthcare delivery through the Medical Metaverse. With the patented Vitaliti device, real-time patient data can be visualized in 3-D holograms, enabling remote interactions between healthcare professionals and patients. This initiative is set to improve access to healthcare and patient outcomes globally.
Cloud DX (OTCQX:CDXFF) has announced the extension of its remote patient monitoring contract with a large Canadian Provincial Health Authority, originally established in May 2021. This agreement continues until September 30, 2023, allowing Cloud DX to provide its Connected Health platform to monitor vital patient data.
The platform aims to enhance patient engagement and reduce healthcare costs through improved care outcomes and early interventions. Cloud DX receives upfront payments for each kit and monthly fees for active accounts, solidifying its revenue stream in virtual healthcare.
Cloud DX has secured a 24-month contract with an Ontario Paramedic Service Provider to implement its Connected Health™ platform for Remote Patient Monitoring (RPM). The deal, valued at approximately $145,000 CAD, involves the deployment of 223 monitoring kits funded by Ontario's $82.5M Community Paramedicine for Long-Term Care program. This initiative aims to enhance community health by enabling paramedics to monitor vital signs at home, potentially reducing emergency visits and hospital admissions. The transition to Cloud DX's platform underscores its commitment to supporting healthcare innovation.
Cloud DX has announced the signing of two new Remote Patient Monitoring (RPM) contracts with Maxwell Telecare clinics in Illinois, bringing the total contracts for 2022 to five. This quarter, the company has achieved a record of twelve signed contracts. The Patient First program will utilize Connected Health technology to improve patient outcomes and reduce hospital visits, benefitting approximately 33% of American adults. The partnership showcases scalable integration and value in RPM for clinics.
Cloud DX has signed a new 12-month contract with a healthcare team in Niagara, Ontario, to provide Connected Health™ kits for up to 85 palliative care patients. This marks the 10th contract secured in the quarter for the company’s Virtual Care platform, which has been operational in various Canadian provinces since 2019. The contract reflects Cloud DX's commitment to enhancing healthcare delivery. The company continues to innovate in the digital healthcare sector while collaborating with industry leaders like Medtronic Canada.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) has successfully closed a non-brokered private placement, raising $260,000 through the issuance of 260 units at $1,000 each. Each unit includes a C$1,000 unsecured convertible debenture and 1,430 common share purchase warrants. The debentures have a maturity date of January 27, 2025 with a 10% interest rate. Funds will be allocated towards sales, marketing, research and development, and working capital. The offering is pending approval from the TSX Venture Exchange.
Cloud DX has announced the issuance of a second patent for its Pulsewave 2.0 Vital Sign Monitor, allowing it to detect blood pressure, heart rate, and respiratory status in a single, clinical-grade reading of 60 seconds. This patent strengthens the company’s position in the Medical Metaverse and enhances data accuracy for telehealth applications. The device operates autonomously and can connect to the internet, facilitating easy data transfer to healthcare providers. This milestone comes during a record-breaking quarter for the company, showcasing its innovative approach to virtual healthcare.
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