Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc announced that it has signed a new contract with another Ontario Paramedic Service to bring remote patient monitoring (RPM) to seniors in the community.
The health data platform technology firm said the contract will begin with 35 Connected Health subscriptions and runs through May 2024, with an estimated value of up to C$35,000.
It is the 12th contract Cloud DX (TSX-V:CDX, OTCQB:CDXFF) has signed with eight separate Community Paramedic Services in Ontario, and the 16th contract or extension announced by the company in 2023 versus 28 contracts announced in all of 2022.
“Cloud DX (TSX-V:CDX, OTCQB:CDXFF) is excited to see continued growth in new contracts, contract extensions and expanded sales orders from the Community Paramedicine for Long-Term Care program,” Cloud DX CEO Robert Kaul said in a statement.
“Caring for seniors in their own homes not only results in fewer ER visits, fewer hospital admissions and better health outcomes, but patients appreciate the chance to stay at home, stating they are very satisfied with Cloud DX Connected Health,” he added.
The company noted that the 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).
Recently the province announced an additional C$174 million in funding to expand the CPLTC program from 2024 onwards, Cloud DX added.
The company also stated that its sales continue to grow on a quarter-over-quarter basis in 2023.
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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