- Cloud DX (CDX) has been selected by Medtronic Canada ULC to provide virtual healthcare to patients across Canada
- Chronic care or surgical patients will be enrolled onto the Connected Health platform
- Cloud DX generates revenue upfront for home monitoring kits and a monthly subscription fee
- Both Cloud DX and Medtronic are taking an innovative approach to improved remote healthcare delivery
- Cloud DX provides a digital and virtual health care platform for patient remote monitoring and post-surgical care
- Cloud DX (CDX) opened trading at C$0.22 per share
Cloud DX (CDX) has been selected by Medtronic Canada ULC to provide virtual healthcare to patients across Canada.
Cloud DX’s remote patient monitoring (RPM) technology and services are exclusive to Medtronic and its Canadian client base across the country. Medtronic Canada delivers care in a broad range of clinical areas, including spinal and cardiac surgeries, cardiology, critical care, diabetes, vascular and renal care.
Initially, Medtronic seeks to integrate the Connected HealthTM platform and associated services within both perioperative and complex chronic disease pathways in Canada.
A typical deployment would involve the enrollment of chronic care or surgical patients onto the Connected HealthTM platform, generating recurring revenue, depending on the length of the monitoring program. Cloud DX generates revenue upfront for kits prescribed to patients for use at home, and then a monthly subscription fee per patient for software, services, and support. Additional revenues could also be generated through customizations, consulting, and special services, as needed.
“Medtronic is committed to partnering with Canada-based SMEs to advance the Canadian life sciences ecosystem,” said Jessica Rudd, National Director of New Partnerships and Solutions at Medtronic Canada.
“More importantly, Medtronic Canada is dedicated to responding to 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 health human resources. However, we can’t do this alone. To that end, we are delighted to enter this exclusive partnership with Cloud DX and scale their innovative technology, thoughtful service model, and excellent track record for delivering results to patients across the country.”
Robert Kaul, CEO and Founder of Cloud DX, added,
“This partnership with Medtronic Canada is an ideal fit; both our companies are taking the lead in our commitments to innovating and creating improved healthcare delivery. This collaboration means remote care will be widely available across Canada. This cutting-edge level of care can directly impact over 1 million Canadians with life changing support and truly modern healthcare solutions. Our Connected HealthTM virtual care platform is preferred by clinicians and has received 100% patient satisfaction scores in multiple studies; we have a proven track record of superior deployment and compliance, and demonstrated unsurpassed expertise in the RPM sector space. The entire Cloud DX team is now ready to be recognized and selected by such a leader in the medical technology industry as Medtronic.”
Proud to serve Canadian healthcare for over 50 years, Medtronic Canada ULC is a subsidiary of Medtronic plc. Medtronic Canada is a leading global healthcare technology company.
Cloud DX provides a digital and virtual health care platform for patient remote monitoring and hospital-quality post-surgical care.
Cloud DX (CDX) opened trading at C$0.22 per share.