Cloud DX (TSX-V:CDX, OTCQB:CDXFF), a provider of remote patient monitoring (RPM) solutions, announced it has secured new Master Deployment Agreements for its RPM services with Beausoleil First Nation Paramedic Service and an Ontario County Paramedic Service.
Funded by the Community Paramedicine for Long-Term Care Program, in Ontario Community Paramedic Services offer RPM to seniors to monitor their vital signs and symptoms and assist in managing conditions such as chronic obstructive pulmonary disease and congestive heart failure.
Patients can interact with paramedics using the Cloud DX (TSX-V:CDX, OTCQB:CDXFF) mobile app, empowering them to manage their own care under paramedics’ close oversight.
The company said its Connected Health RPM products and services allow seniors to extend how long they can live in their homes, reducing pressure on nursing home waiting lists.
"Cloud DX is pleased to continue supporting the very effective Community Paramedicine for Long-Term Care program in Ontario,” Cloud DX chief operating officer Anthony Kaul commented.
“Especially in rural areas, patients with chronic conditions, or patients recovering from surgery may be a long distance from the nearest hospital, which puts additional pressure on paramedics. Home monitoring both keeps patients safer and makes the job of the paramedics easier."
The agreements have a term of 24 months and are valued at approximately C$140,000.
The company highlighted that these new contracts capped off a record first quarter in which it announced 10 new contracts and 14 contract renewals valued at C$4.75 million.
Shares of Cloud DX traded higher on Tuesday afternoon, adding 8.7% shortly before the market close.