Health data platform operating company Cloud DX (OTCMKTS:CDXFF) was in focus on Tuesday after a major new announcement. The company announced that it had inked a contract with a major healthcare entity based out of Ontario, Canada which specializes in heart health.
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On Tuesday, CDXFF stock slumped 1.45% to $0.1084 with more than 300 shares, compared to its average volume of 7.64K shares. The stock moved within a range of $0.1084 – 0.1084 after opening trade at $0.1084.
Cloud DX Signs Contract with Heart Centre
As per the contract, Cloud DX would be responsible for setting up a remote patient monitoring program for patients suffering from Congestion heart failure or CHF. The connected health devices and data platform which are offered by Cloud DX would be used to replace the current heart failure telehealth program which had been put in place by the Ontario based organization.
The contract that was signed by Cloud DX was for a duration of three years and would be involved in enrolling patients suffering from CHF in a remote monitoring initiative lasting three months. Each month as many as 100 patients are expected to be brought on board.
In the first year alone, the contract is going to be worth as much as C$171000. In this regard it is also necessary to note that one of the top reasons for hospitalizations in Canada is heart failure as per data from Heart and Stroke Foundation of Canada.
