Cloud DX updated investors regarding the terms of the Remote Patient Monitoring Agreement for Cloud DX RPM Services with a British Columbia Provincial Health Services Authority, initially announced on May 7, 2024. On May 17, 2024 BC-PHSA posted the Award of the contract at BCBid.gov.ca, with a value of $9,412,277.06. The contract has a term of 36 months with 2 extensions.

The average contract value of each individual patient subscription is expected to be approximately $1,520 CAD per year which covers the cost of the Connected Health Kit prescribed to each patient, software, and connectivity. Certain additional fees, including customizations and integrations can be added on an as-needed basis. In the most recent financial statements Cloud DX reported a gross margin of 71%.

Cloud DX is now one of the leading suppliers of Remote Patient Monitoring services in Canada. In addition to contracts at the clinic, hospital, institute and municipal government level, Cloud DX has secured 5 Provincial level contracts for RPM including Alberta Health Services, Alberta Primary Care Network, Yukon Health, Health PEI and now BC-PHSA. On June 21, 2023 Cloud DX announced a Master Services Agreement to supply members of the Mohawk Medbuy shared services organization, which manages procurement for over 100 Hospital Systems and provincial authorities across Canada.

In addition to these large contracts the Company supplies RPM solutions to 11 Ontario Community Paramedic Services and over 8 hospital systems including Hamilton Health Sciences, The Ottawa Hospital, the Ottawa Heart Center, Kingston Health Sciences and several more. Further details of this agreement will be released by the client upon publication of the contract award as per provincial regulations. Cloud DX has now announced 26 new contracts and/or contract renewals so far in 2024.

Notable announcements include new contracts with Ontario Paramedics, Ottawa University Research Institute, VHA Home HealthCare and Health PEI. Together the announced value of these contracts now exceeds $14 million CAD, with terms of 12 to 36 months (not including extensions).