Welcome to the Market Herald Video Q&A Podcast.
I’m Brieanna McCutcheon.
Cloud DX is emerging as the partner of choice among the largest global medical technology companies to provide innovative, best-in-class remote patient monitoring (RPM) solutions.
The company recently announced a partnership with the world’s largest telemedicine company, Teladoc Health, integrating Teladoc’s virtual care solution Solo with the award-winning Cloud DX Connected Health platform.
To learn more about this intriguing partnership, we’re joined by Robert Kaul, CEO, Founder & President of Cloud DX.
Hello and welcome, Robert.
TMH: Cloud DX recently announced a partnership with Teledoc Health – who are they and what does that mean?
RK: Teledoc Health is the largest telemedicine company in the world. One of the pioneers of telemedicine, in fact, has been in business for 20 years and they have a terrific footprint around the globe. Teledoc health does business in 175 countries. They have 5,100 employees over a billion US dollars every year in revenue and over 5 billion US market cap on the New York stock exchange. Teledoc health has been a pioneer of telemedicine and they currently serve over 55 million patients every year. So they’re the perfect partner to help a company like Cloud DX grow and scale very quickly.
TMH: What does Cloud DX bring to the table? What can Teladoc Health do for Cloud DX?
RK: What’s exciting for us is that Cloud DX is specialists in a form of remote patient monitoring and virtual care that really helps some of the most serious patients, the folks with the most serious chronic illnesses, people who have had very serious surgeries and this is a group of patients who tend to be older, and in fact, Teledoc health doesn’t have much impact on at the moment. Teledoc Health’s customers typically are large corporations. People have Teledoc health as a benefit from their company, especially in the United States, and so this is a new way for them to reach and make a difference in a large and frankly growing market, which is of course the folks who are getting older over 10,000 US citizens turn 65 every single day, and that’s a startling statistic. So we bring that integrated expertise. We’re integrating Teledoc health technologies into Cloud DX, and together we can really make a difference for this specific group of patients.
TMH: Why did Teladoc choose Cloud DX for Remote Patient Monitoring when they have Livongo?
RK: Teledoc is quite famous for acquiring Livongo several years ago for a large sum of money but again, Livongo overlaps with tele Health’s existing business. Livongo is a benefit offered by employers to employees. Mostly to cover people who have type two diabetes, it’s a community care program. It includes a coaching element and has really no impact on older folks who have acute or serious chronic diagnoses. So we’ve become a bridge beyond Livongo. People may wind up using Livongo when they’re a little younger and still working, but as they get to retirement age and perhaps as their health begins to change and get a little worse, they may graduate from that to Cloud DX and integrate the platforms means that that transition could be quite seamless. I should point out that Livongo already caters to over 900,000 members in the United States, and so that pool of folks who may one day graduate to a cloud DX membership is very large and growing.
TMH: What other partnerships does Cloud DX have, and are they impacted by the Teladoc deal?
RK: We’re very proud to be in addition to Teledoc health, to be exclusive partners to the other very, very large health technology company that has a footprint all over the world and that is Medtronic. People may know the Medtronic name from seeing it in the hospital, Medtronic is a medical technology company. They deliver services to hospitals and to patients in hospitals. They range from neurological operations surgeries on the spine, pacemakers, and many different things that happen in hospitals and so our partnership with med Medtronic means patients will begin their journey being monitored by Cloud DX. And then as soon as they’re finished their surgery, they’ll go home with a Cloud DX, connected health kit that will help maintain their health during their recovery. This is a very important project, a big part of the growth plan for Medtronic, which of course, is similar in size to Teledoc. Medtronic is actually larger when it comes to market cap and does business in the same number of countries. So we’re in fact a preferred partner to the two largest, most successful health technology companies in the world today and I think that really speaks to Cloud DX’s expertise, both as an innovator and from the point of view of customer service, we were recommended to both of these giant partners by our existing customers, and that’s really a big part of the Cloud DX special sauce.
TMH: What does this mean for the future of Cloud DX? How will it impact and help growth?
RK: Cloud DX has been growing very quickly in our organic sales. Our internal sales team is doing a terrific job. We are one of the largest, if not the largest RPM or remote monitoring providers in Canada, we are the only company I know of that has multiple provincial-territorial level contracts and our services and products are available in most of the hospitals across Ontario and growing. So the addition of the partnership with Teledoc and Medtronic now gives us sort of the three legs of the growth stool, if you will. It means that we’re going to get a chance to grow very quickly across north America and also in other parts of the world through these partnerships, in addition to our own organic growth and so it’s really a massive additional rocket booster for Cloud DX’s expansion in the next two to three years.
TMH: Well, thanks again for joining us at The Market Herald Robert. I appreciate it.
Again, we’ve been speaking with Robert Kaul, CEO, Founder & President of Cloud DX.
To stay up to date on Cloud DX. You can find them on the TSXV under the symbol CDX.
I’m Brieanna McCutcheon for The Market Herald Canada. Thanks for watching.
FULL DISCLOSURE: This is a paid article produced by The Market Herald.