Shares of Cloud DX Inc (OTCMKTS:CDXFF) closed sharply higher on Tuesday after announcing Multi-year contract with Ontario clinic.
Market Reaction
On Tuesday, CDXFF stock soared 29% to $0.2835 with 18k shares, compared to its average volume of 5.07k shares. The stock has moved within a range of $0.2600 – 0.2835 after opening trade at $0.26.
Major News
Cloud DX Inc (OTCMKTS:CDXFF) has tied up with an independent Ontario clinic to supply Connected Health hardware, telehealth connectivity, and remote monitoring services for at-home pulmonary rehabilitation. The agreement is for three years, and was announced on December 21, 2021.
Safe at-home pulmonary rehabilitation for those with severe COPD was very much required before 2020, but the Covid-19 pandemic has accelerated the demand. The province now has tens of thousands of patients in need of care with persistent shortness of breath and lung damage due to COVID.
Connected Health allows rehabilitation sessions to be conducted in the privacy of homes, which includes group classes through a secure app. Important vital signs like pulse oxygen readings will be collected simultaneously and patient success is to be measured accurately and automatically tracked within the Connected Health platform. The plan is to broadcast at least four rehabilitation sessions daily.
Robert Kaul, CEO and Founder of Cloud DX states the company is proud to be able to come to the aid of critical patients by providing this new care modality during the ongoing public health emergency. The program is set to be launched in January 2022 with Connected Health kits deployed to patients on a rotating eight-to-twelve-week basis. An upfront fee will be charged by the company for each kit, with ongoing monthly fees for connectivity and support services.
