Cloud DX: Provides Update on Virtual Care Platform Contracts, Partnerships and Deployments So Far in 2022

Virtual Care and Remote Monitoring Leader Cloud DX Signs New Contracts, Contract Renewals and Delivers Industry Firsts, Making First Quarter a Record Quarter

News in a nutshell

  • Cloud DX books over $1.2 million in new contracts and renewals so far in Q1
  • Several 3rd party surveys show over 95% patient satisfaction with Cloud DX
  • The first contract under the pan-Canadian Medtronic partnership is signed in Ontario

KITCHENER, ON/ACCESSWIRE/March 1, 2022/DX Cloud (TSXV:CDX) (OTC:CDXFF), Cloud DX, a digital health innovator providing leading virtual care and remote monitoring solutions in North America, is pleased to share an update on its partnerships, new contracts and contract renewals. Cloud DX’s recent partnerships with Medtronic Canada, Prizm Media and Maxwell Telecare have provided opportunities to accelerate deployments of its chronic care management and post-surgical patient follow-up programs in North America.

As of March 1, 2022, Cloud DX has reserved 1.2 million Canadian dollars in new cases, including in particular its first partner Medtronic chronic obstructive pulmonary disease (COPD) treatment support contract at St. Mary’s General Hospital. Last month’s success also includes a new contract with another pulmonary rehabilitation program in Canada, the renewal and expansion of a Canadian provincial/territorial remote patient monitoring contract for 24 months, the launch of a new innovative critical illness benefit with Equitable Life (a first in insurance in Canada)and a new primary care telemonitoring contract with a large clinic in Massachusetts, USA1. These revenues will be paid out in 2022 and 2023, with the majority this year coming from purchases of new Connected Health™ kits.

Commenting on the company’s traction, Cloud DX Independent Board Director Brad Miller said, “In 2021, Cloud DX laid the groundwork, through contracts and partnership agreements , to grow aggressively in 2022. Patients and healthcare staff love virtual care with Cloud DX’s Connected. Health™. Deployment expertise, innovation and exceptional customer service are all key reasons Cloud DX continues to forge exclusive partnerships with leaders such as Medtronic Canada and Equitable Life. With the traction achieved so far in 2022, this quarter turns into a record quarter for the company. With remote patient monitoring expected to reach over 70 million patients by 2025, Cloud DX expects continued and accelerated growth in 2022.”

Cloud DX currently has access to over 2 million patients and projects to approach cash flow positive once approximately 10,000 patients are enrolled.

The second installment of the announcement previously announced by the company Private Placement of Convertible Debentures is currently open. Term sheets are available upon request, please email: [email protected].

Footnotes: Cloud DX and Medtronic announced their contract with St. Mary’s General Hospital on February 23, 2022. Equitable Life of Canada and Cloud DX announced their partnership and critical illness benefit on February 14, 2022. Cloud Dx announced their contract with an Ontario Pulmonary Rehab Clinic on December 21, 2021. Cloud DX signed a contract with a clinic in Massachusetts, USA in February 2022.

About CloudDX

Accelerating virtual healthcare, DX Cloud is dedicated to improving health care for all. Our connected health MT Remote patient monitoring platform is used by healthcare companies and care teams across North America to virtually manage chronic conditions, enable aging-in-place, and provide post-surgical care of hospital quality at home. Our partners achieve better healthcare and better patient outcomes, reduce the need for hospitalization or readmission, and lower the costs of delivering healthcare through more efficient use of resources. Cloud DX is a Qualcomm Tricorder XPRIZE Winner, 2021 Edison Prize Winner, Fast Company “World Changing Idea” Finalist, and one of the “Top Ten Telehealth Providers in Canada.” In 2021, Cloud DX became an exclusive partner of Medtronic Canada.

Cloud DX Investor Sitehttps://ir.clouddx.com/overview/default.aspx

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For media inquiries, please contact:

Janine Scott
Marketing Manager
888-543-0944
[email protected]

For investor inquiries, please contact:

Jay Bedard
Cloud DX Investor Relations
647-881-8418
[email protected]

Forward-looking statements

This press release contains forward-looking statements and information within the meaning of applicable securities laws. Often, but not always, forward-looking statements and information can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates”. , “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain actions, events or results “may”, “could”, “would”, “could” or “will” occur, occur or be realized. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause results, performance or achievements actual results of the Company may differ materially from any future results, performance or achievements expressed or implied by any forward-looking statements or information contained in this press release. In particular, this press release contains certain forward-looking statements concerning ant the offering, including anticipated proceeds, expected closing date and use of net proceeds, and management’s objectives, strategies, beliefs and intentions.

The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. In making the forward-looking statements contained in this press release, the Company applied several important assumptions, including, without limitation, information regarding the closing of the Offer, obtaining TSX growth, the use of proceeds and the Company’s marketing activities and research and development strategies and the expected benefits thereof.

Although the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information, there may be other factors that cause the results are not those anticipated, estimated or intended. . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“) or any United States securities law and may not be offered or sold in the United States without registration or available exemption from the registration requirements of United States securities law and applicable United States securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy, or any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

THE SOURCE: CloudDX Inc.

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