Community Paramedicine for Long-Term Care (CPLTC) program continues to care for Ontario seniors using Cloud DX Connected Health technology.

News in Summary

• This is Cloud DX's 13th Community Paramedicine contract announced to date.

• Funding is provided through the Ontario government CPLTC program from the Ministry of Long-Term Care.

• Cloud DX overall sales are expected to approximately double in 2023.

KITCHENER, ON / ACCESSWIRE / October 4, 2023 / Cloud DX (TSXV:CDX)(OTCQB:CDXFF), a leading North American provider of virtual care and remote patient monitoring platforms announces a contract with a new Ontario Paramedic Service to bring remote patient monitoring (RPM) to seniors in the community.

This community paramedic group chose Cloud DX to provide Connected Health kits and remote monitoring services for an already-running RPM program after receiving additional funding through the Ontario government's Community Paramedicine for Long-Term Care program (CPLTC).


For this contract, Cloud DX Connected Health is once again replacing another vendor. The flexibility of the Connected Health platform allows the customer to continue using some legacy hardware, lowering the cost of switching to Cloud DX.

The CPLTC program is fully funded by the provincial government to provide additional care for seniors in the comfort of their own homes before admission into long-term care. Recently the province announced an additional $174 million CAD in funding to expand the CPLTC program from 2024 onwards.


Peterborough County Paramedics describe in this recent 3 min. video how effective Cloud DX Connected Health is at:

• Reducing frequency of repeat callers
• Lowering usage rates of 911
• Decreasing emergency room visits
• Improving usage rates of more cost-effective care

Since launching our Community Paramedic program Cloud DX has deployed approximately 975 Connected Health Kits, which are expected to generate about $1,000,000 CAD in combined hardware, subscription and service revenue in year 1 and a further $425,000 in recurring revenue in further years. Cloud DX's gross margin is approximately 70%.

Cloud DX CEO and Founder Robert Kaul stated, "Cloud DX is gratified to see the continued growth of the Community Paramedicine for Long-Term Care program. This new contract, on top of the recently awarded RFP wins with Mohawk Medbuy, Alberta Primary Care Network and Alberta Health Services, continues the Company's drive to deliver award-winning innovation to Canadians. As the leader in Canadian RPM, we hope to see this pioneering Community Paramedic program replicated in other provinces soon."


This is the 13th contract or extension Cloud DX has signed with 8 separate Community Paramedic Services in Ontario, and the 22nd contract / extension announced by the Company in 2023 versus 28 contracts announced in all of 2022.



LINKS:

1 long-term-care-program

2

3

4

5

6

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, and leading hospital procurement agent Mohawk Medbuy.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cloud DX Investor Site

Social Links

Twitter
Facebook
LinkedIn
Instagram

For media inquiries please contact:

Marketing Enquiries
Phone 888-543-0944
marketing@clouddx.com

For investor inquiries please contact:

Jay Bedard
Cloud DX Investor Relations
Phone 647-881-8418
investors@clouddx.com

Officer responsible for this Press Release:

Robert Kaul
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

La Bourse de croissance TSX et son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'assument aucune responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.

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.