Cloud DX and CBI Health Partnership Alleviates Hospital Occupancy Pressure by Delivering Complex Care at Home

Partnership creates efficiencies for insurers and hospitals to deliver complex care at home and alleviate health system burdens

News in Summary

  • Partnership between Cloud DX remote monitoring and CBI Health at-home care present a Canadian first for hospital at home (H-a-H) use cases.

  • Continuity of care enables patients to be discharged earlier and maintains safe, high quality, reliable care at home.

  • Initial contract will augment and improve care for Cloud DX customer and partner Equitable Life of Canada.

KITCHENER, ON / ACCESSWIRE / September 26, 2022 / Cloud DX (TSXV:CDX) (OTCQB:CDXFF), a leading remote monitoring company, announces a new partnership with CBI Health, a leading community home care provider, to offer a comprehensive home care service to Canadians. This innovative Cloud DX - CBI Health partnership enables patients to go home sooner and more safely after surgery and other complex health presentations, helping alleviate occupancy pressure on Canadian hospitals.

Cloud DX Inc., Monday, September 26, 2022, Press release picture
Cloud DX Inc., Monday, September 26, 2022, Press release picture

The partners' first contract together is the Critical Illness (CI) benefit with insurer Equitable Life of Canada. As previously announced, the leading Canadian financial services company now offers Cloud DX Remote Monitoring free of charge to all approved CI claimants. This Cloud DX offering now expands to include 24/7 monitoring with CBI's National Client Service Center, offering Equitable clients greater access to care and improved convenience.

Cloud DX digital health platform delivers remote monitoring and virtual care solutions that bring patients and care teams closer together. By connecting with CBI Health's high quality home care service network across Canada, this partnership empowers hospitals, insurers, or other stakeholders to access virtual command centers of healthcare professionals to augment remote or virtual care solutions without increasing overhead or workload. Together, Cloud DX and CBI Health streamline virtual care implementation to monitor post-operative care or complex chronic illness patients, meaning patients can go home earlier and care teams can discharge them with confidence in their at-home care.

"We're excited to announce a new partnership between Cloud DX and CBI Health to expand access to quality care at home. Combining our expertise in remote and virtual care with CBI Health's professional and personal healthcare services, hospitals can discharge patients earlier with confidence," says Robert Kaul, CEO and Founder of Cloud DX. "This is great news for patients who need additional support at home, but it's also great news for healthcare systems - the partnership will create system efficiencies that improve patient outcomes, reduce system costs, and can reduce length of stay at hospital. All of which, in turn, can make a difference to both care access and care quality."

Feisal Keshavjee, SVP at CBI Health, states: "Together CBI Health and Cloud DX are a powerful combination of innovation, technology and service excellence that enables patients and clients to manage and measure their health at home. CBI Health is committed to providing the highest quality of care possible and the highest standards of service. To do this, we must provide a range of services that meet the needs of all our clients - whether they need higher-intensity home care, or just some help recovering post-surgery. By partnering with Cloud DX, we can provide these services at home where it's most comfortable for our clients."

Together, this partnership will provide high-quality and high-reliability services for hospitals, health authorities, insurers, or other stakeholders to support their patients.

About CBI Health

For millions of Canadians, CBI Health is where better begins. They are Canada's leading community healthcare provider, reliably delivering innovative rehabilitation and home care programs that help clients achieve their health goals. With 250+ locations supporting more than 800 communities, people are at the heart of what CBI does. Every day, all across the country, 13,000 staff work together to make a meaningful difference in clients' lives and help shape healthcare for the better. Learn more at www.cbihealth.ca

About Cloud DX

Accelerating virtual healthcare, Cloud DX is on a mission to make healthcare better for everyone. The Cloud DX Connected Health™ remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home. Our partners achieve better healthcare and patient outcomes, reduce the need for hospitalization or re-admission, and reduce healthcare delivery costs through more efficient use of resources. Cloud DX is 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." Cloud DX is an exclusive partner to Medtronic Canada, Equitable Life of Canada and Teladoc Health.

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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For media inquiries:
Janine Scott
Marketing Lead
888-543-0944
janine.scott@CloudDX.com

For investor inquiries (Canada):
Jay Bedard
Cloud DX Investor Relations
647-881-8418
jay.bedard@CloudDX.com

For investor inquiries (US):
Gary Zwetchkenbaum
Cloud DX US Investor Relations
516-455-7662
ir@CloudDX.com

Forward Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. In particular, this news release includes certain forward-looking statements concerning the terms of the contract extension, the expected proceeds therefrom, as well as management's objectives, strategies, beliefs and intentions.

Risks, uncertainties and other factors involved with 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 in this news release, the Company has applied several material assumptions, including without limitation, the Company's the ability of the Company to fulfill the terms of and derive the benefits from the contract extension.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as 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.

SOURCE: Cloud DX Inc.



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