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Shell Summary for May 4, 2020

2020-05-04 20:44 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 2.97 points to 476.06 Monday. John Gamble and Bruce Bent's second capital pool shell, Roosevelt Capital Group Inc. (ROSV: halted), plans to acquire a medical device company called Cloud DX Inc. for the shell's qualifying transaction. The shell, which has 18 million shares issued, will issue 226,890,756 shares to its target's shareholders.

Cloud DX has offices in Kitchener, Ont., and Brooklyn, N.Y. Its main product is a remote patient monitoring system called Connected Health. For patients, the system includes an Android tablet and non-invasive devices for measuring vital signs (such as blood pressure and oxygen saturation in the blood). The patient's Connected Health system is linked to his doctor's own Connected Health system. The doctor receives alerts when his patient's vital signs go beyond normal or specified ranges. Connected Health enables remote doctor-patient communications by video call or text. It also includes a feature for managing electronic medical records. Patients typically acquire Connected Health kits on recommendation from their doctors after being discharged from a hospital stay. The system enables those doctors to monitor their patients postdischarge. Cloud DX notes that remote patient monitoring systems are reimbursible by Medicare and Medicaid in the United States (starting last year). Among Cloud DX's other products is a blood pressure monitor called Pulsewave.

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