- CloudMD stock (TSXV:DOC) was in the green after signing a remote patient monitoring (RPM) contract with a major U.S. regional hospital system
- The contract will expand the company’s reach across the client’s 115 healthcare providers and more than 25,000 Medicare patients
- CloudMD Software & Services is a North American healthcare service provider combining leading-edge technology with a national network of healthcare professionals
- The healthcare stock (TSXV:DOC) opened with a gain of 4.17 per cent trading at $0.125 per share
CloudMD stock (TSXV:DOC) was in the green after signing a remote patient monitoring (RPM) contract with a major U.S. regional hospital system.
The company will serve the client’s 115 healthcare providers and more than 25,000 Medicare patients through its proprietary HealthyLYF patient app and portal. The contract intends to enhance access to preventive care and minimize costly emergency department visits.
CloudMD’s RPM platform integrates with existing technology to monitor and manage patients with chronic diseases, including diabetes, heart disease and respiratory illnesses.
According to Grand View Research, the global RPM market was valued at US$4.4 billion in 2022 and is expected to grow at a CAGR of 18.5 per cent until 2030.
“Our team has created and refined a differentiated RPM program, and this hospital system contract is a testament to that. I am proud of the work we have accomplished and the impact we will have on patients using our technology-enabled healthcare,” Karen Adams, CEO of CloudMD, said in a statement.
“We will continue to invest in RPM and add proprietary technologies such as iCBT and our in-pilot glucose monitoring system. This is foundational for our strategy of U.S. expansion as we continue to build a pipeline of opportunities and innovate to drive health outcomes and evidenced-based treatment,” she added.
CloudMD Software & Services is a North American healthcare service provider combining leading-edge technology with a national network of healthcare professionals. The company’s workplace health and wellbeing solution, Kii, offers a personalized healthcare experience across mental, physical and occupational health. CloudMD also specializes in workplace absence management, as well as health and productivity tools.
The healthcare stock (TSXV:DOC) opened with a gain of 4.17 per cent trading at $0.125 per share.
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