Medtronic selected Cloud DX for virtual and
remote patient monitoring (RPM) solutions in exclusive corporate
agreement
BRAMPTON, ON, Dec. 1, 2021 /CNW/ - 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 studies[1]; 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.
Sources:
1. 100% patient satisfaction scores in multiple studies: UAMS, MSH,
UNB
About Medtronic Canada ULC
Bold thinking. Bolder
actions. We are Medtronic. Proud to serve Canadian healthcare
for over 50 years, Medtronic Canada ULC is headquartered in
Brampton, Ontario, with regional
offices in Montreal and
Vancouver, and is a subsidiary of
Medtronic plc. We are the leading global healthcare technology
company that boldly attacks the most challenging health problems
facing humanity by searching out and finding solutions. Our Mission
— to alleviate pain, restore health, and extend life — unites a
global team of 90,000+ passionate people. Our technologies and
therapies address 70 health conditions and include cardiac devices,
surgical robotics, insulin pumps, surgical tools, patient
monitoring systems, and more. In everything we do, we are
engineering the extraordinary. Learn more at www.medtronic.ca
About Cloud DX
Accelerating virtual 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, a 2021 Edison Award
winner, a Fast Company "World Changing Idea" finalist, and one of
"Canada's Ten Most Prominent
Telehealth Providers.
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.
Any forward-looking statements are subject to
risks and uncertainties such as those described in Medtronic's
periodic reports on file with the U.S. Securities and Exchange
Commission. Actual results may differ materially from anticipated
results.
SOURCE Medtronic Canada ULC