Medtronic selected Cloud DX for virtual and remote patient monitoring (RPM) solutions in exclusive corporate agreement
WATERLOO, ON / ACCESSWIRE / December 1, 2021 /Cloud DX (TSXV:CDX) (OTCQB:CDXFF) has been selected by Medtronic Canada ULC, a subsidiary of Medtronic plc (NYSE:MDT), a global leader in healthcare technology, to provide world-class virtual healthcare to patients across Canada. This partnership advances Medtronic's commitment to improving patient outcomes and lowering overall costs along the care continuum. Cloud DX's remote patient monitoring (RPM) technology and services are exclusive to Medtronic and its Canadian client base, which is spread across Canada. Medtronic Canada delivers care in a broad range of clinical areas, including spinal and cardiac surgeries, cardiology, critical care, diabetes, vascular and renal care. Most clinical areas are expected to improve patient outcomes and satisfaction with some aspect of virtual care in the future. Initially, Medtronic seeks to integrate the Connected HealthTM platform and associated services within both perioperative and complex chronic disease pathways in Canada.
Under the agreement, a typical deployment would involve the enrollment of a chronic care or surgical patient 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 studies1; 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 live up to being recognized and selected by such a leader in the medical technology industry as Medtronic."
Cloud DX's upcoming investor meeting is set for noon on December 8, 2021. You can register here. Leadership will discuss Virtual Care as a Platform and associated revenue streams, including the Cloud DX and Medtronic partnership agreement.
https://www.accesswire.com/675446/Cloud-DX-Selected-by-Medtronic-for-National-Collaboration