Cloud DX (TSX-V:CDX, OTCQB:CDXFF) has hailed its latest provincial health authority contract as a “critical milestone” after the contract’s value of just over CA$9.4 million was confirmed.
Agreed with British Columbia Provincial Health Services Authority last month, the provider has since firmed up the value of the award, Cloud DX noted on Tuesday.
Cloud DX chief executive Robert Kaul commented this proved the company’s remote patient monitoring had “become a priority with Canadian Provincial Health Authorities”.
Indeed, the contract marks Cloud DX’s fourth with a provincial health authority in Canada, after agreements in Alberta, Yukon and Prince Edward Island.
“The announcement of the Provincial Remote Patient Monitoring contract by the British Columbia PHSA marks a critical milestone in Cloud DX's growth,” Kaul said.
“As the largest supplier of remote patient monitoring in Canada, Cloud DX now has the capability to bring the benefits of this new mode of care to well over 50% of the population.”
Average value per patient is expected to be C$1,520 in the latest award, according to Cloud DX, with the contract lasting 36 months with two extensions.
This takes Cloud DX’s to 26 contracts or renewals for the year so far, boasting a combined value of CA$14.6 million.