- Cloud DX (TSXV:CDX) has signed a contract with a provincial health authority for remote patient monitoring
- The contract has a 36-month term with two extensions of 12 months each for a total of 60 months
- This marks the fourth provincial health authority contract for the company, which includes Alberta, Yukon and Prince Edward Island
- Shares of Cloud DX are down 8.33 per cent to C$0.11 as of 10:43 am ET
Cloud DX (TSXV:CDX) has signed a contract with a provincial health authority for remote patient monitoring (RPM), marking the fourth provincial health authority contract for the company.
In a news release, the Kitchener, Ontario-based company stated the contract has a 36-month term with two extensions of 12 months each for a total of 60 months.
It is estimated the average contract value for each patient subscription will total C$1,520 per year, which will cover the cost of the Connected Health Kit prescribed to each patient, software and connectivity.
“This new provincial-level agreement cements Cloud DX as the most trusted supplier of remote patient monitoring services in Canada,” Robert Kaul, CEO and founder of Cloud DX, said in a statement. “Connected Health RPM will now become available to many more Canadians for critical conditions including chronic obstructive pulmonary disease, congestive heart failure, post-surgical monitoring, and even palliative care.”
In addition to its fourth contract with a provincial health authority, its other provincial contracts include those with Alberta, Yukon and Prince Edward Island.
Since the start of the year, Cloud DX has secured 26 new contracts or renewals, including those with Ontario Paramedics, Ottawa University Research Institute, VHA Home HealthCare and Health PEI.
Cloud DX is a remote patient monitoring company that is a Health Canada-licensed, U.S. Food and Drug Administration-registered medical device manufacturer and software developer offering a complete end-to-end virtual healthcare platform called Cloud DX Connected Health.
Shares of Cloud DX Inc. (TSXV:CDX) are down 8.33 per cent to C$0.11 as of 10:43 am ET.
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