Mr. Robert Kaul reports

CLOUD DX SIGNS 13TH PARAMEDIC SERVICE CONTRACT FOR REMOTE PATIENT MONITORING

Cloud Dx Inc. has signed a contract with a new Ontario paramedic service to bring remote patient monitoring (RPM) to seniors in the community.

• This is Cloud DX's 13th Community Paramedicine contract announced to date;
• Financing is provided through the Ontario government CPLTC program from the Ministry of Long-Term Care;
• Cloud DX overall sales are expected to approximately double in 2023.

This Community Paramedic group chose Cloud Dx to provide Connected Health kits and remote monitoring services for an already-running RPM program after receiving additional financing through the Ontario government's Community Paramedicine for Long-Term Care program (CPLTC).

For this contract, Cloud Dx Connected Health is once again replacing another vendor. The flexibility of the Connected Health platform allows the customer to continue using some legacy hardware, lowering the cost of switching to Cloud Dx.

The CPLTC program is fully financed by the provincial government to provide additional care for seniors in the comfort of their own homes before admission into long-term care. Recently the province announced an additional $174-million in financing to expand the CPLTC program from 2024 onward.

Peterborough County Paramedics describe in this recent three-minute video how effective Cloud Dx Connected Health is at:

• Reducing frequency of repeat callers;
• Lowering usage rates of 911;
• Decreasing emergency room visits;
• Improving usage rates of more cost-effective care.

Since launching the company's Community Paramedic program Cloud Dx has deployed approximately 975 Connected Health kits, which are expected to generate about $1-million in combined hardware, subscription and service revenue in year one and a further $425,000 in recurring revenue in further years. Cloud Dx's gross margin is approximately 70 per cent.

Cloud Dx chief executive officer and founder Robert Kaul stated: "Cloud DX is gratified to see the continued growth of the Community Paramedicine for Long-Term Care program. This new contract, on top of the recently awarded RFP wins with Mohawk Medbuy, Alberta Primary Care Network and Alberta Health Services, continues the company's drive to deliver award-winning innovation to Canadians. As the leader in Canadian RPM, we hope to see this pioneering Community Paramedic program replicated in other provinces soon."

This is the 13th contract or extension Cloud Dx has signed with eight separate Community Paramedic services in Ontario, and the 22nd contract/extension announced by the company in 2023 versus 28 contracts announced in all of 2022.

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, 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 10 most prominent telehealth providers. Cloud Dx is an exclusive partner to Medtronic Canada, Teladoc Health Canada and leading hospital procurement agent Mohawk Medbuy.

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