Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc has updated shareholders on its partnerships, new contracts, and contract renewals in 2022.
In a statement, the company noted that it recently signed partnerships with Medtronic Canada, Prizm Media, and Maxwell Telecare and has provided opportunities to accelerate deployments of its chronic care management and post-surgical patient monitoring programs in North America.
As of March 1, 2022, Cloud DX said it has booked C$1.2 million in new business, notably including its first Medtronic partner contract for Chronic Obstructive Pulmonary Disease (COPD) therapy support at St. Mary's General Hospital in Ontario.
READ: Cloud DX and Medtronic sign first contract with Ontario Hospital
Other recent successes also include a new contract with another pulmonary rehabilitation program in Canada, a renewal and expansion of a Canadian provincial/territorial remote patient monitoring contract for 24 months, the launch of an innovative new critical illness benefit with Equitable Life (a first in Canadian insurance), and a new primary care Remote Monitoring contract with a large clinic in Massachusetts.
"In 2021, Cloud DX set the basis, through contracts and partnership agreements, to grow aggressively in 2022,” said Brad Miller, Cloud DX's lead independent board director.
“Patients and healthcare staff alike love virtual care with Cloud DX's Connected Health. Expertise in deployment, innovation, and outstanding customer service are all key reasons why Cloud DX continues to secure exclusive partnerships with leaders such as Medtronic Canada and Equitable Life. With the traction achieved so far in 2022, this quarter is shaping into a record quarter for the company. With remote patient monitoring set to grow to over 70M patients by 2025, Cloud DX expects continuing and accelerating growth in 2022."
Cloud DX said it currently has access to over 2 million patients and projects to approach positive cash flow once approximately 10,000 patients are enrolled.
Meanwhile, the second tranche of the company's previously announced convertible debenture brokered private placement is currently open.
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