Cloud DX (TSX-V:CDX, OTCQB:CDXFF) announced that it has signed a new Master Deployment Agreement with the Ottawa Hospital Research Institute (OHRI), the research arm of The Ottawa Hospital in Ottawa, Ontario.
The company said the five-year agreement will facilitate the deployment of Cloud DX (TSX-V:CDX, OTCQB:CDXFF)’s remote patient monitoring technology for projects, studies and clinical trials at the institute, potentially involving more than 1,000 patients.
It said researchers intend to use Cloud DX Connected Health products and services to facilitate remote patient monitoring, communication via video and text, schedule and compliance management, and improved clinical study efficiencies, which Cloud DX said would lead to higher quality clinical studies.
It added that each order for its technology will be covered by a separate statement of work.
Cloud DX chief operating officer Anthony Kaul said the company was excited to embark on this partnership with OHRI.
“Our research partnerships often lead to large-scale commercial contracts, as was the case with long-term clients Hamilton Health Sciences, The Ottawa Hospital, Alberta Health Services, and others,” Kaul said. “We're confident that our contributions to research at OHRI will continue to improve care for Canadians, and customers in other countries as well."
OHRI clinical investigator and anesthesiologist at The Ottawa Hospital Dr. Sylvie Aucoin added: "Virtual care and remote monitoring technologies have great potential to improve patient care. Our research team looks forward to working with Cloud DX on research in this area."
The company highlighted that it has announced new contracts, renewals or purchase orders valued at more than C$2.8 million since January 1, 2024.
Shares of the company moved higher on the news, up 11.7% to C$0.10 late morning on Wednesday.
Cloud DX’s stated mission is to make healthcare better for everyone. Its 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.