Cloud DX (OTCMKTS:CDXFF) Stock Surges After Expanding Contract with Ontario Hospital
One of the companies that you could look into this morning is Cloud DX (OTCMKTS:CDXFF) after the virtual care platform operating leader made a significant new announcement today. The company announced today that along with one of its worldwide healthcare partners it had inked an expansion contract with a hospital in Ontario, which is an existing client.
Trading Data
On Tuesday, CDXFF stock gained 14.67% to $0.1079 with more than 25.46K shares, compared to volume of 1.99K shares. The stock moved within a range of $0.1045 – 0.1088 after opening trade at $0.1088.
Cloud DX Expands Contract with Ontario Hospital
As per the provisions of the expansion agreement, Cloud DX would be responsible for providing remote patient monitoring services to 100 more cardiac patients at the hospital. The expansion of the contract came about after the Connected Health remote patient monitoring program deployed initially earlier on in 2022 had proven to be a success. The value of the contract is estimated to be C$72000 for a 12 months period.
The contract also includes the task of procuring Connected Health kits as well as the refurbishment of the third party devices at the hospital. Anthony Kaul, who is the Chief Operating Officer at Cloud DX spoke about the expansion agreement as well.
He noted that the company was excited at the prospect of expanding its remote monitoring services to a larger number of cardiac patients. It may be a good time to start monitoring the stock.
Key Quote
“The Ontario healthcare landscape is important to us as a Kitchener, ON based MedTech company,” stated Cloud DX COO and co-founder Anthony Kaul. “We’re excited to expand our remote patient monitoring services to a growing number of cardiac patients in our community. Cloud DX embraces the quadruple aim in healthcare innovation: making care better for patients, for providers, saving money and improving outcomes at the community level. We’re honored to be a leader in delivering virtual care in our local community, across Canada and, increasingly, in the United States.”
