Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc has announced 150% year-over-year growth in its contract extensions, expanding five of its existing remote patient monitoring contracts and signing contracts with seven new clients while strengthening its reputation as a top provider of remote patient monitoring in North America.
The health data platform technology company said the sales growth of its Connected Health RPM solutions has been steadily increasing since 2022, with 12 new contracts and extensions executed in 2023, demonstrating a significant ‘run rate' increase from the 28 announced the preceding year.
“The growth of remote patient monitoring is accelerating as healthcare providers put the lessons learned during the pandemic into practice,” Cloud DX (TSX-V:CDX, OTCQB:CDXFF) CEO Robert Kaul said in a statement.
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“Cloud DX (TSX-V:CDX, OTCQB:CDXFF) is pleased to be in a position to offer our customers a best-in-class virtual care platform, very high patient satisfaction and exemplary customer service, resulting in a record number of new contracts so far in 2023,” Kaul added.
Cloud DX (TSX-V:CDX, OTCQB:CDXFF) noted that total contract values to date are expected to be up to C$800,000 in the first year, including up to C$450,000 in hardware purchases, with the remaining revenue assigned to subscription and services lines.
It added that the rate of growth among customers indicates a permanent shift in healthcare delivery, as its clients are growing their remote patient monitoring (RPM) programs to support more patients and additional healthcare conditions.
The Connected Health platform allows healthcare teams to monitor their patients remotely, resulting in more efficient care, fewer hospitalizations, and ultimately better patient outcomes, according to the company.
Cloud DX’s stated mission is to make healthcare better for everyone. The company’s Connected Health data platform is used by clinics and hospitals across North America to incorporate remote and virtual technology in care delivery.
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