The first Canadian Hospital contract is announced under the new multi-year contract with Mohawk Medbuy.
News in Summary
- Existing Cloud DX customer St Mary's General Hospital in Kitchener ON is increasing their deployment of Connected Health products and services.
- This is the first deployment to be announced under the Mohawk Medbuy procurement contract announced June 21, 2023.
- This new St Mary's deployment will reach 500 patients and is valued at $1,700,000 CAD with room for additional expansion.
- St Mary's reports success at reducing ER visits and hospital admissions by deploying Cloud DX Connected Health and rapid-response nursing care.
KITCHENER, ON / ACCESSWIRE / July 12, 2023 / Cloud DX (TSXV:CDX)(OTCQB:CDXFF), a leading North American provider of remote patient monitoring services announces that St Mary's General Hospital (SMGH) in Kitchener Ontario is increasing their deployment of Connected Health remote patient monitoring products and services provided by Cloud DX.
This is the first new contract to be delivered under the procurement agreement with Mohawk Medbuy, a national, not-for-profit, shared services organization trusted by hundreds of Canadian hospitals and health care providers to drive value, efficiencies and cost savings on the supplies and services they use, announced on June 21, 2023.
St. Mary's is a current Cloud DX customer and has deployed Connected Health for cardiac patients (https://www.smgh.ca/areas-of-care/cardiac-care/cardiac-clinics) and chronic obstructive pulmonary disease (COPD) patients (https://www.smgh.ca/areas-of-care/respiratory-thoracic-care/outpatient-respiratory-care) so far to date.
This new contract for Connected Health Kits and remote care monitoring services will help St. Mary's support up to 500 new patients annually and is valued at approximately $1,700,000 CAD over the full extended contract. The contract allows support of current programs as well as the potential to expand or offer new remote care monitoring programs in the future. This contract is expected to fall within the $3,000,000 CAD award announced by Mohawk Medbuy for the first 2 Cloud DX contracts.
A statement from St. Mary's General Hospital:
"St. Mary's has gratefully received funding from Ontario Health to continue operating clinical remote care monitoring solutions. This type of monitoring enables us to better support our current patients in the community, as well as expanding service to those patients who are experiencing travel barriers. Cloud DX has been, and will continue to be, instrumental in allowing St. Mary's to provide a user-friendly, high-quality service that supports patients to receive care in their home, reducing the need for hospitalizations and unplanned emergency department visits."
"Recently a post-cardiac-surgery patient, using the Cloud DX Connected Health Kit, reported low blood pressure and dizziness. The Cardiac Surgery Nurse Practitioner called and assessed the patient. During the assessment, the Nurse Practitioner was able to provide medication instructions and requested a Rapid Response Nurse visit for that day. Later in the day the Cardiac Surgery Nurse Practitioner connected with the patient by phone and provided further medication and fluid instructions. The following day the patient successfully captured their weight and blood pressure readings. The Cardiac Surgery Nurse Practitioner followed up and confirmed the patients' blood pressure improved, their weight and symptoms stabilized, and further medication instructions were provided. By using the Cloud DX Connected Health Kit for Remote Care Management, the patient prevented a visit to the ER, a potential hospital admission, and potential harm to the patient."
Cloud DX CEO and Founder Robert Kaul responded, "Cloud DX is very happy to grow our successful relationship with St. Mary's General Hospital in our hometown of Kitchener ON. St. Mary's exceptional remote patient monitoring and rapid response nursing programs are making a positive, life-affirming impact on patient outcomes in the Kitchener-Waterloo region, while providing efficiencies that reduce the overall cost of care. These programs are models for the hundred-plus Mohawk Medbuy members who can now procure Connected Health across Canada".
About St. Mary's General Hospital
For nearly a century, St. Mary's has provided compassionate care to our community serving over 1,000,000 residents locally and beyond each year. We are the second-largest acute care hospital in the St. Joseph's Health System with a team of over 2,000 staff, physicians and volunteers dedicated to ensuring patients receive the highest-quality care possible. As leaders in our field recognized globally for world-class, innovative healthcare, our vision of "Inspiring Excellence. Healthier Together" is not just about our approach to patient-centred care, it's also about our commitment to our staff.
About Cloud DX
Accelerating digital healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected Health TM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home. Our partners achieve better healthcare and patient outcomes, reduce the need for hospitalization or re-admission, and reduce healthcare delivery costs through more efficient use of resources. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, 2022 Top Innovator by Canadian Business, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers." Cloud DX is an exclusive partner to Medtronic Canada, Teladoc Health Canada, and Equitable Life of Canada.
Cloud DX Investor Site https://ir.clouddx.com/overview/default.aspx
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For media inquiries please contact:
For investor inquiries please contact:
Jay Bedard (Canada)
Cloud DX Investor Relations
Gary Zwetchkenbaum (USA)
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. In particular, this news release includes certain forward-looking statements concerning the terms of the contract extension, the expected proceeds therefrom, as well as management's objectives, strategies, beliefs and intentions.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the Company's the ability of the Company to fulfill the terms of and derive the benefits from the contract extension.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.
À propos de Cloud DX
Accélérant les soins de santé virtuels, Cloud DX a pour mission d'améliorer les soins de santé pour tous. Notre plateforme de surveillance à distance des patients Connected HealthMC est utilisée par des entreprises de soins de santé et des équipes de soins partout en Amérique du Nord pour gérer virtuellement les maladies chroniques, permettre aux gens de vieillir chez eux et fournir des soins post-chirurgicaux de qualité hospitalière à domicile. Nos partenaires obtiennent de meilleurs résultats pour les soins de santé et les patients, réduisent le besoin d'hospitalisation ou de réadmission, et réduisent les coûts de prestation des soins de santé grâce à une utilisation plus efficace des ressources. Cloud DX est co-lauréate du prix Qualcomm Tricorder XPRIZE, lauréate du prix Edison 2021, finaliste du concours « World Changing Idea » de Fast Company et un des dix plus importants fournisseurs de télésanté au Canada.
Site des relations avec les investisseurs de Cloud DX https://ir.clouddx.com/overview/default.aspx
La Bourse de croissance TSX et son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'assument aucune responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Tous les énoncés prospectifs sont assujettis à des risques et à des incertitudes, tels que ceux décrits dans les rapports périodiques de Medtronic déposés auprès de la Securities and Exchange Commission. Les résultats réels peuvent sensiblement différer des résultats anticipés.
SOURCE: Cloud DX Inc.
View source version on accesswire.com: