Mr. Jay Bedard reports

CLOUD DX RECEIVES EXPANSION ORDER FROM ONTARIO HEART CENTRE

Cloud Dx Inc. has received a large expansion order for Connected Health remote patient monitoring (RPM) products and services.

News in Summary

• Ontario Heart Centre is expanding its successful remote patient monitoring program first announced on March 7, 2023.
• The expanded deployment of Cloud Dx Connected Health will enroll up to 500 new patients per year and generate $90,000 in additional product and service revenue.
• With 19 new contracts or contract expansions announced so far in 2023, the company expects to approximately double its sales performance from 2022.

The program expects to monitor up to 500 patients in a full year with expected overall revenue of approximately $90,000. Importantly, this new RPM deployment is replacing the services of a previous vendor under an expansion of an existing program which monitors patients at home after serious surgeries.

This new use case is adding postoperative monitoring to the existing deployment of Cloud Dx technology for chronic disease management that was announced on March 7, 2023, bringing the total value of this deployment to approximately $260,000.

Cloud x RPM has been shown in published, peer-reviewed studies to improve patient outcomes, reduce ER visits and reduce medication errors once patients return home from surgery.

For example, in the PVC-RAM study published in the British Medical Journal, Canadian researchers found that by using Connected Health technology for home monitoring, clinicians uncovered the fact that 29 per cent of patients had one or more medication errors. Incidence of severe pain was reduced by 14 per cent, and ER visits were reduced by 5 per cent.

"Cloud DX is excited to see one of our largest clients continue to grow their Connected Health RPM program," stated Robert Kaul, founder and chief executive officer of Cloud Dx. "Throughout 2023 we have recognized increased demand for our cutting-edge RPM products and services, as evidenced by both new and expanded contracts, increased patient enrolment, and success at winning competitive RFPs and public tenders. The company is on track to more than double the number of contracts signed compared to all of 2022. This increase in demand for RPM products and services is expected to continue and accelerate."

About Cloud Dx Inc.

Accelerating digital health care, Cloud Dx is on a mission to make health care better for everyone. Its Connected Health remote patient monitoring platform is used by health care enterprises and care teams across North America to virtually manage chronic disease, enable aging in place and deliver hospital-quality postsurgical care in the home. The company's partners achieve better health care and patient outcomes, reduce the need for hospitalization or readmission, and reduce health care delivery costs through more efficient use of resources. Cloud Dx is the co-winner of the Qualcomm Tricorder XPrize, 2022 Top Innovator by Canadian Business, a 2021 Edison Award winner, a Fast Company World Changing Idea finalist, and one of Canada's 10 most prominent telehealth providers. Cloud Dx is an exclusive partner to Medtronic Canada, Teladoc Health Canada and Equitable Life of Canada.

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