With $14M + In Contracts YTD Cloud DX Dominates Canada's Remote Patient Monitoring Market

Did you know that artificial intelligence is playing a paradigm shifting role in the future of healthcare?  

Specifically, we all know that hospital care is suffering from a shortage of doctors, nurses and even beds as North American populations get older and grow.

The solution is REMOTE PATIENT MONITORING (a.k.a. virtual care) which allows doctors to monitor and manage non-critical patients from a distance. 

The global market for remote patient monitoring is projected to reach $41.7B in 2026.

“Virtual Care Is Transforming The Future Of Healthcare” Forbes.com

INTRODUCING CLOUD DX

Enter Cloud DX the largest supplier of Remote Patient Monitoring in Canada and a leading North American provider that has been achieving remarkable financial success and even greater growth.

Fiscal Year 2023 Highlights

Revenue:   $1.8M vs $1.17M in 2022  (+55% YoY)

Gross Profit:  $1.28M vs $602K in 2022  (+113% YoY)

Cloud DX AI technology significantly improves patient care by enabling efficient remote monitoring. This innovation helps reduce the burden on healthcare systems and ensures patients receive timely and effective care at home.

Market Dominance

So far in 2024, Cloud DX has announced 26 new contracts with hospitals, paramedic services, US clinics, and 2 Canadian Provinces with a total value of $14.6 million CAD - serving as proof positive the Company has hit an inflection point in it's market acceptance and growth.

User-Friendly and Comprehensive

The Connected Health Kit includes medical devices linked to a tablet, making it easy for patients to monitor their health. Pre-programmed instructions and secure communication with healthcare providers enhance user experience and care quality.

Enhanced Patient EngagementBy enabling secure messaging and telemedicine visits, the system empowers patients to take an active role in their healthcare, leading to improved satisfaction and outcomes.

High-Profile CollaborationsPartnerships with industry giants like Medtronic and Teledoc Health position Cloud DX as a leader in remote patient monitoring. These alliances are crucial for scaling operations and expanding market reach on a global scale in 2024 and beyond.

Substantial Market OpportunityWith an addressable market of over 19 million patients annually, Cloud DX remote monitoring solutions have significant revenue potential. 

Financial Strength and Future Prospects

The launch of their first US command center in San Diego in 2024 marks a significant step in their expansion plans, promising enhanced service delivery and market penetration.

Long-Term Contracts and RenewalsRecord shattering renewal rates of 95% and long-lasting contracts in Canada demonstrate Cloud DX's commitment to customer satisfaction and sustained growth.

AWARDS

In addition to great market acceptance and revenue growth, Cloud DX has received multiple prestigious awards including:

Co-winner of the Qualcomm Tricorder XPRIZE, winner of "2022 Top Innovator" from Canadian Business, a 2021 "Edison Award" winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers.

9.4 MILLION CONTRACT

Founder and CEO Robert Kaul stated:

 "The announcement of the Provincial Remote Patient Monitoring contract by the British Columbia PHSA marks a critical milestone in Cloud DX's growth. With an announced value of $9.4 million CAD this award proves that Remote Patient Monitoring has become a priority with Canadian Provincial Health Authorities. As the largest supplier of Remote Patient Monitoring in Canada Cloud DX now has the capability to bring the benefits of this new mode of care to well over 50% of the population. We look forward to working with all our Provincial Government partners to improve care for all Canadians."

Cloud DX is redefining the future of healthcare with its AI-powered remote monitoring technology. Their impressive track record, strategic partnerships, and substantial market potential make them a compelling opportunity.