Cloud DX (TSX-V:CDX, OTCQB:CDXFF) announced that it has executed a remote patient monitoring (RPM) agreement with a fourth provincial health authority in Canada alongside Alberta, the Yukon, and Prince Edward Island.
The provider of RPM products and services said the term of its fourth contract is 36 months with two extensions of 12 months each.
CDX said the average contract value of each individual patient subscription is expected to be C$1,520 per year, covering the cost of the Connected Health Kit prescribed to each patient, software, and connectivity.
CEO Robert Kaul said the new provincial-level agreement cemented the company as “the most trusted supplier of remote patient monitoring services in Canada.”
“Connected Health RPM will now become available to many more Canadians for critical conditions including chronic obstructive pulmonary disease, congestive heart failure, post-surgical monitoring, and even palliative care,” Kaul said in a statement.
“Published studies have demonstrated that Cloud DX (TSX-V:CDX, OTCQB:CDXFF) RPM improves health outcomes, reduces the average length of stay in hospital, and drives high levels of both patient and provider satisfaction. These benefits are now available to Canadians from coast-to-coast, and even as far north as the Yukon, delivering much needed efficiency to the whole Canadian healthcare system."
Cloud DX highlighted that in the four months to April 30, 2024, it has announced 26 new contracts with hospitals, paramedic services, US clinics and now Canadian provinces.
Notable contracts include new contracts with Ontario Paramedics, Ottawa University Research Institute, VHA Home Healthcare and Health PEI.