Welcome to our dedicated page for Cloud Dx news (Ticker: CDXFF), a resource for investors and traders seeking the latest updates and insights on Cloud Dx stock.
The CDXFF news page on Stock Titan provides an organized archive of public announcements and developments related to Cloud DX Inc., a former North American digital health platform and provider of virtual care and remote patient monitoring solutions. These news releases document how the company positioned its Connected Health remote patient monitoring platform, which was used by healthcare enterprises and care teams across North America to manage chronic disease, support aging in place, and deliver hospital-quality post-surgical care in the home.
Through these historical updates, readers can review Cloud DX’s disclosures about contracts with hospitals, community paramedic services, clinics, and provincial or territorial health authorities, as well as its reported role in providing remote patient monitoring products and services. The archive also includes company statements about awards and recognition, such as being the co-winner of the Qualcomm Tricorder XPRIZE, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers."
In addition to growth and contract announcements, the CDXFF news record covers Cloud DX’s restructuring process. Key items include the filing of a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act (Canada) by its material subsidiary, the court-supervised sale of Cloud Diagnostics Canada ULC under a reverse vesting order, and the company’s later disclosure that it ceased operations and transferred all assets to a purchaser. The news flow also documents the Cease Trade Order issued by the Ontario Securities Commission due to the company’s inability to file audited financial statements for its 2024 fiscal year.
By browsing this page, investors and researchers can follow the full narrative arc of Cloud DX Inc. (CDXFF) through its contract wins, financial reporting announcements, restructuring steps, and eventual cessation of operations, using the company’s own news releases as a primary source.
Cloud DX's remote patient monitoring program achieved a 97% satisfaction rate among 204 surveyed patients post-surgery at The Ottawa Hospital. Notably, 89% stated the quality of care was equal to or superior to traditional face-to-face visits. The survey, conducted between May and December 2021, highlighted the program's effectiveness in aiding recovery, with fewer patients requiring hospital readmission. This initiative continues under Ministry of Health funding, with findings supporting enhanced patient outcomes through remote monitoring technology.
Cloud DX Inc. (TSXV:CDX)(OTCQB:CDXFF) announced the completion of the first tranche of its brokered private placement, raising $1,555,000 through the issuance of 1,555 units. Each unit consists of a C$1,000 convertible debenture and 1,430 warrants. The debentures carry an interest rate of 10% and can be converted at C$0.35 per share. The funds will support sales, marketing, R&D, and working capital. Securities issued will be under a four-month hold period until May 28, 2022, pending final approval from the TSX Venture Exchange.
Cloud DX Inc. (TSXV:CDX) has announced that insiders holding around 33% of shares will extend their lock-up agreements until October 31, 2022. This voluntary action reflects confidence in the company's growth, as stated by Lead Director Brad Miller. Recent developments include securing $131,000 from the NB Health Research Foundation and new partnerships with Medtronic Canada and others, enabling access to up to 2 million patients. The company aims to achieve EBITDA positivity with a target of 10,000 enrolled patients.
Cloud DX Inc. has updated the terms of its private placement of Convertible Debenture Units, aiming to raise up to $3.45 million. The offering involves 3,000 units priced at $1,000 each, with a potential additional 450 units. Each unit consists of a $1,000 principal amount unsecured convertible debenture and 1,430 warrants. The debentures will mature in 36 months at a 10% interest rate. Proceeds will fund sales, marketing, R&D, and general operations, pending approval by the TSX Venture Exchange.
Cloud DX has secured a funding partnership with the New Brunswick Health Research Foundation (NBHRF), receiving $131,902 to support the clinical evaluation of its Pulsewave 2.0 non-invasive vital sign monitoring device.
This funding will facilitate ongoing R&D for clinical calibration and validation trials at Horizon Health Network. The results aim for Health Canada licensing and FDA clearance, positioning Pulsewave 2.0 as a leading wrist cuff for accurate pulse rate, blood pressure, and respiratory rate measurements in various settings.
Cloud DX has expanded its Patient-First™ program by signing contracts with three new clinics in Illinois for Remote Patient Monitoring (RPM). This partnership with Maxwell Telecare increases the total to five clinics within three months. With RPM potentially impacting 33% of American adults, Cloud DX anticipates approximately $900 CAD in annual recurring revenue per patient under current reimbursement codes. The company aims to achieve cash flow positivity with around 10,000 RPM patients enrolled.
Cloud DX has announced a brokered private placement agreement with Echelon Wealth Partners for up to 3,000 convertible debenture units, aiming to raise up to $3 million. Each unit consists of a $1,000 principal amount unsecured convertible debenture maturing in 36 months with a 10% annual interest rate, and 1,250 common share purchase warrants. The funds will support sales, marketing, research, and general operations, with estimates to close the offering around January 18, 2022. TSXV approval is pending.
Cloud DX has secured a multi-year contract with an Ontario clinic to provide its Connected Health™ platform for at-home pulmonary rehabilitation. Commencing in January 2022, this initiative addresses the rising demand for safe rehabilitation due to chronic obstructive pulmonary disease (COPD) and lasting COVID-19 symptoms. The program includes vital sign monitoring and education for up to 78,000 patients annually. Cloud DX aims to enroll approximately 10,000 patients to reach its break-even goal.
Cloud DX has been selected as the Remote Patient Monitoring (RPM) platform for Hamilton Health Sciences (HHS) Surgical Transitions program, monitoring 200 surgical patients monthly. The program aims to enhance post-surgical outcomes, leveraging Cloud DX's Connected Health™ platform. This initiative follows a successful national study demonstrating the benefits of virtual care. As Cloud DX targets cash-flow positivity at 10,000 monitored patients, this partnership positions it as a pioneer in remote monitoring in Canada.
Cloud DX has announced validation of its Vitaliti™ continuous monitoring wearable through a peer-reviewed study, essential for the ~800,000 surgical patients in Canada annually. The device is compliant with ISO 81060-2:2018, paving the way for regulatory approval in 2022. This technology supports continuous monitoring, allowing timely interventions post-surgery to enhance patient outcomes. A partnership with Medtronic aims to broaden deployment, significantly impacting patient care. CEO Robert Kaul emphasized the innovation in post-surgical monitoring, addressing critical health changes during recovery.