Cloud DX (TSX-V:CDX, OTCQB:CDXFF) has announced a new contract with a prominent Ontario healthcare organization specializing in heart health to establish a remote patient monitoring program for congestive heart failure (CHF) patients.
The company said its state-of-the-art Connected Health devices and data platform will replace the organization’s current heart failure telehealth program. The three-year contract aims to enroll congestive heart failure patients in a three-month remote monitoring program with up to 100 patients onboarded per month.
The contract value is expected to be up to C$171,000 in the first year, Cloud DX added.
Per the Heart and Stroke Foundation of Canada, Cloud DX noted that heart failure is one of the top reasons for hospitalizations in Canada and that CHF is often referred to as a ‘revolving door’ condition since one in five heart failure patients will be readmitted to a hospital within a month of being discharged. By 2030, it said healthcare costs associated with heart failure are expected to reach $2.8 billion per year in Canada.
“At Cloud DX we work with our customers to improve healthcare delivery, provide better care outcomes, and lessen the burden on our national healthcare system,” Cloud DX co-founder and chief operating officer Anthony Kaul said in a statement.
“Peer-reviewed studies show our Connected Health platform successfully lowers hospital readmission rates. Coupled with reported 97% patient satisfaction scores, the remote monitoring for congestive heart failure patients provides high-level specialized treatment along with peace of mind for chronically ill patients in their homes,” he added.
Cloud DX noted that the contract was initiated with it and its exclusive national partner, a global leader in healthcare technology. This is the third contract signed together since the announcement of said partnership and follows the recent announcement of a new cardiac program in Ontario.
The company said this cutting-edge level of care offered by the two partners stands to directly impact over one million Canadians with life-changing support and truly modern healthcare solutions.
Cloud DX’s stated mission is to make healthcare better for everyone. The company’s Connected Health data platform is used by clinics and hospitals across North America to incorporate remote and virtual technology in care delivery.
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