Contracts announced include 2 new agreements with Ontario Family Health Teams and 36-month extension with Oak Valley Health's - Markham Stouffville Hospital. Cloud DX will present at an upcoming webinar, and at 2 Canadian and 2 US-based investor conferences.
News in Summary
- Hanover Family Health Team and Brockton Area Family Health Team each chose the Cloud DX Connected Health platform for Remote Patient Monitoring of palliative patients.
- Oak Valley Health's Markham Stouffville Hospital, one of Cloud DX's oldest continuous RPM deployments, renews their contract for Community Care for an additional 36 months.
- The Company will present at 4 upcoming Investor Conferences, including the AlphaNorth Capital Event on January 20, 2024; at New York City-based Maxim Group Healthcare IT Virtual Conference on January 24, 2024; at the Microcap Conference on January 31, 2024; and at the Whistler Capital Event on February 9, 2024 - details below.
- Investors are invited to a Webinar on January 17, 2024 at 4:00 PM EST to hear CEO Robert Kaul discuss recently announced milestones and outlook for 2024. A link to register is below.
KITCHENER, ON / ACCESSWIRE / January 11, 2024 / Cloud DX (TSXV:CDX)(OTCQB:CDXFF), a leading North American provider of virtual care and remote patient monitoring platforms announces separate new contracts with 2 Ontario Family Health Teams (FHTs).
As part of a Grey Bruce Ontario Health Team palliative care initiative, the Hanover FHT and the Brockton and Area FHT will each deploy Cloud DX Connected Health kits and remote patient monitoring services to patients who are enrolled in palliative care programs.
Cloud DX Connected Health Remote Patient Monitoring (RPM) allows for palliative care and monitoring to be conducted from the comfort of a patient's home. The patient's circle of care has the peace of mind knowing there is a dedicated clinical team monitoring their loved one's wellbeing using weekly surveys, including mESAS, patient satisfaction and PRFS tools (patient functional status tool) to assess the stage the patient's palliative journey. Additionally, where applicable, there is a survey to assess the wellbeing of personal caregivers supporting the patient in addition to the RPM solution. Patients, regardless of palliative stage and technological ability, have been able to confidently participate and feel supported in their health and wellbeing. These contracts were signed on October 23 & 31, 2023 respectively with an initial term of 12 months, with automatic extensions thereafter.
In addition, the Company is pleased to announce that Oak Valley Health's Markham Stouffville Hospital(MSH) has renewed and extended their contract for Cloud DX RPM products and services for an additional 36 months, from December 7, 2023 to December 7, 2026
MSH has deployed Connected Health for community care programs since November 2017, and uses Cloud DX solutions for chronic obstructive pulmonary disease (COPD), heart failure and virtual rehabilitation patients. In addition, The Lung Health Foundation has purchased Connected Health Kits for deployment at MSH. Many MSH patients have continuously used Cloud DX technology for over 65 months and counting.
For palliative care and chronic disease management use cases, Canadian healthcare providers will prescribe Connected Health RPM for essentially the remainder of the patient's life. On average Cloud DX earns approximately $49 CAD per patient per month for this type of deployment, along with additional fees for hardware, wound care, customizations, connectivity, and other related services. As of September 31, 2023 Cloud DX reported gross margins of 77%.
Cloud DX COO and Co-founder Anthony Kaul stated. "The Cloud DX team is excited to extend our Connected Health Platform's palliative care module to serve patients in Southwestern Ontario through the Brockton and Hanover Family Health Teams. Originally developed for our territorial contract with Yukon Health and Social Services, the Cloud DX Palliative Care module brings much needed support for families and caregivers assisting a loved one palliate at home. We are also honored to continue to work with our longest standing Chronic Care Management program through Oak Valley Health's Markham Stouffville Hospital. The MSH COPD program is a Canadian leader in improving patient outcomes through remote monitoring of vital signs and symptom assessments and will continue to be our corporate exemplar of what is possible through the application of well executed digital health strategies by forward thinking care teams!"
INVESTOR WEBINAR
Investors are invited to a Zoom webinar on January 17, 2024 at 4:00 PM Eastern Time (US and Canada). Please register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_KUeLav5_RFeJCn6Bmfa_Lg
After registering, you will receive a confirmation email containing information about joining the webinar.
UPCOMING INVESTOR CONFERENCES
Cloud DX is pleased to inform investors that Founder and CEO Robert Kaul will be presenting at the following investor conferences in the coming weeks:
- The AlphaNorth Capital Event is taking place in Nassau, Bahamas from Friday January 19th to Sunday January 21st, 2024. Investors interested in attending are encouraged to contact Capital Event Management at info@cem.ca
- The Maxim Group will hold their annual Healthcare IT Virtual Conference on Wednesday January 24th and Thursday January 25th. Qualified investors can apply to attend this virtual event at no cost at https://m-vest.com/events/healthcare-it-01242024
- The Microcap Conference will be held in Atlantic City NJ on Wednesday January 31st and Thursday February 1st, 2024. Investors can learn more at https://themicrocapconference.com
- The Whistler Capital Event will take place from Friday February 9th to Sunday February 11th, 2024. Presented by Capital Event Management, investors can find more information at https://cem.ca
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, winner of "2022 Top Innovator" from 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.
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Officer responsible for this Press Release:
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Chief Executive Officer
Phone 888-543-0944
ceo@clouddx.com
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. In particular, this news release includes certain forward-looking statements concerning the terms of the contract extension, the expected proceeds therefrom, as well as management's objectives, strategies, beliefs and intentions.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the Company's the ability of the Company to fulfill the terms of and derive the benefits from the contract extension.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.
À propos de Cloud DX
Accélérant les soins de santé virtuels, Cloud DX a pour mission d'améliorer les soins de santé pour tous. Notre plateforme de surveillance à distance des patients Connected HealthMC est utilisée par des entreprises de soins de santé et des équipes de soins partout en Amérique du Nord pour gérer virtuellement les maladies chroniques, permettre aux gens de vieillir chez eux et fournir des soins post-chirurgicaux de qualité hospitalière à domicile. Nos partenaires obtiennent de meilleurs résultats pour les soins de santé et les patients, réduisent le besoin d'hospitalisation ou de réadmission, et réduisent les coûts de prestation des soins de santé grâce à une utilisation plus efficace des ressources. Cloud DX est co-lauréate du prix Qualcomm Tricorder XPRIZE, lauréate du prix Edison 2021, finaliste du concours « World Changing Idea » de Fast Company et un des dix plus importants fournisseurs de télésanté au Canada.
Site des relations avec les investisseurs de Cloud DX https://ir.clouddx.com/overview/default.aspx
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Tous les énoncés prospectifs sont assujettis à des risques et à des incertitudes, tels que ceux décrits dans les rapports périodiques de Medtronic déposés auprès de la Securities and Exchange Commission. Les résultats réels peuvent sensiblement différer des résultats anticipés.
SOURCE: Cloud DX Inc.
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