Why Did Cloud DX Inc (OTCMKTS:CDXFF) Soar 48% On Friday?

It was a fairly great day for investors in Cloud DX Inc (OTCMKTS:CDXFF) this past Friday as the stock came into sharp focus and ended up with gains of as much as 48% amidst heavy interest.

Trading Data

On Friday, CDXFF stock moved up 47.45% to $0.1622 with more than 69.50K shares, compared to its average volume of 3.33K shares. The stock moved within a range of $0.1175 – 0.1622 after opening trade at $0.1200.

Teladoc Health & Cloud DX partner in Canada to enhance remote monitoring solutions for patients across the country.

The remote healthcare company announced this past Friday that it had gone into a strategic partnership with Teladoc Health for the purpose of serving the monitoring demands of patients who are located in Canada. The company noted that the partnership is going to allow the company to allow a much higher number of Canadians to lead healthier lives.

It may now be a good idea to perhaps take a look at the nature of the partnership. CloudDX currently offers RPM services through its platform in Canada, however, through the partnership with Teladoc Health it is going to be further enhanced due to the latter’s virtual care offerings. The CloudDX platform is used by clinics as well as hospitals for the purpose of managing patients who may be suffering from a medically complex condition.

The RPM solution from CloudDX is known as Connected Health and it is meant for tracking the key health indicators of patients. It remains to be seen if the Cloud DX Inc stock continues to add to its gains today or not.

Key Quote

“We’re excited to bring Teladoc Health’s deep expertise in virtual care, chronic care management and mental health care to Canadians via this unique partnership with Cloud DX, giving us the opportunity to empower even more Canadians to live their healthiest lives,” said Dr. Joby McKenzie, Managing Director, Teladoc Health, Canada. “By joining forces with Cloud DX in Canada, we will bring needed scale to reach people across this vast country, who can benefit from remotely monitoring their health conditions at home, all while reducing the strain on hospitals and clinicians” she added.