Vancouver, British Columbia – (Newsfile Corp. – December 2, 2021) – Cloud DX Inc. (TSXV: CDX) (OTCQB: CDXFF) has been selected by Medtronic Canada ULC, to provide world-class virtual healthcare to Medtronic patients across Canada. Medtronic Canada, (www.medtronic.ca) headquartered in Brampton, Ontario, with regional offices in Montreal and Vancouver, is Canada’s largest medical technology company and a subsidiary of Medtronic plc (NYSE: MDT), a global leader in multi-billion dollar medical technology, providing medical devices and therapy services to more than 72 million people in 150 countries.
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This partnership reinforces Medtronic’s commitment to improving patient outcomes and reducing overall costs across the continuum of care. Medtronic Canada provides care in a wide variety of clinical areas, including spinal and cardiac surgery, cardiology, critical care, diabetes, vascular and kidney care. Most clinical areas are expected to improve patient outcomes and satisfaction with some aspect of virtual care in the future.
Cloud DX’s Connected Health ™ remote patient monitoring platform is used by healthcare companies and care teams across North America to virtually manage chronic disease, enable aging in place and provide hospital-grade post-surgical care at home. Its partners achieve better health care and better patient outcomes, reduce the need for hospitalization or readmission, and lower the costs of delivering health care through more efficient use of resources.
Cloud DX’s remote patient monitoring technology and services are unique to Medtronic and its pan-Canadian customer base. Initially, Medtronic seeks to integrate the Connected Health ™ platform and associated services into the perioperative and complex chronic disease pathways in Canada.
Under the agreement, a typical deployment would involve enrolling a chronic care or surgical patient on the Connected Health ™ platform, generating recurring revenue, depending on the length of the monitoring program. Cloud DX generates upfront revenue for kits prescribed to patients for home use, followed by a monthly subscription per patient for software, services, and support. Additional income could also be generated through customizations, advice and special services, as needed.
Jessica Rudd, National Director of New Partnerships and Solutions at Medtronic Canada, said: “Medtronic is committed to partnering with Canadian-based SMEs to advance the Canadian life sciences ecosystem. Most importantly, Medtronic Canada is dedicated to meeting the needs of our Canadian healthcare system, and we are committed to enabling equitable access to care and patient empowerment and reducing the burden on our precious healthcare human resources. However, we cannot do it alone. To that end, we’re excited to enter this exclusive partnership with Cloud DX and scale their innovative technology, thoughtful service model, and great track record to deliver results to patients across the country.. “
Among its many awards, Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, a winner of the Edison Award 2021, a Fast Company “World Changing Idea” finalist and one of “Canada’s Ten Most Distinguished Telehealth Providers.
The shares are trading at $ 0.195. For more information, please visit the company website www.CloudDX.com, and the company’s investor relations site ir.CloudDX.com/overview/default.aspx, contact Jay Bedard, Investor Relations, at 647-881-8418 or by email at jay.bedard@CloudDX.com.
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