Cloud DX secures .4M contract with BC-PHSA
Cloud DX has solidified its position as one of the leading suppliers of Remote Patient Monitoring services in Canada. Recently, on May 17, 2024, the British Columbia Provincial Health Services Authority (BC-PHSA) announced the award of a contract valued at .4 million CAD to Cloud DX.
The contract, which was the result of a competitive RFP process, was executed on April 23, 2024, and covers the provision of Remote Patient Monitoring (RPM) products and services province-wide. With a term of 36 months and 2 possible extensions of 12 months each, the average value of each individual subscription is projected to be around ,520 CAD per year. This amount includes the cost of the Connected Health Kit prescribed to patients, software, and connectivity. Additional fees for customizations and integrations can be added as needed. Cloud DX reported a gross margin of 71% in its most recent financial statements.
Cloud DX has been rapidly expanding its reach in the healthcare sector, securing 26 new contracts in 2024 with hospitals, paramedic services, US clinics, and 2 Canadian Provinces, totaling .6 million CAD. This growth trajectory highlights the company’s increasing presence in the industry.
The Founder and CEO of Cloud DX, Robert Kaul, expressed optimism about the future of Remote Patient Monitoring in Canada, stating that the recent contract award from BC-PHSA signifies a significant milestone in the company’s growth. Cloud DX aims to leverage this contract to provide high-quality care to more than 50% of the Canadian population and looks forward to collaborating with Provincial Government partners to enhance healthcare services for all Canadians.
Cloud DX’s Connected Health™ remote patient monitoring platform is utilized by healthcare enterprises and care teams across North America to manage chronic diseases, support aging in place, and deliver post-surgical care at home. The company has received several accolades for its innovative solutions and is a key player in accelerating digital healthcare.
In conclusion, Cloud DX’s continued success in securing contracts and expanding its presence in the healthcare market reaffirms its position as a leading Remote Patient Monitoring service provider in Canada. With a strong focus on improving patient outcomes and reducing healthcare costs, Cloud DX remains at the forefront of transforming the healthcare landscape.
