Cloud DX announce that it hopes that 100% of clients whose contracts are expiring in the first quarter of 2024 will renew. Of 14 potential renewals, 11 are renewed as of this date with 3 more . Cloud DX executes contracts with several types of healthcare providers. These contracts typically vary in length from 12 months to a maximum of 84 months. Customers typically purchase Connected Health Kits that include approved medical devices and, in many
cases, a customized tablet computer, connected to the internet using WiFi or cellular technology. Patients are prescribed a Connected Health Kit and attached subscription for chronic care management, post-surgical recovery, remote rehabilitation, or palliative care use cases. Using the included medical devices patients gather vital signs, and on the Cloud DX mobile app they answer surveys, receive care plan reminders, and communicate with their care team by text and video chat. The customers renewing their contracts in the first quarter include 3 Canadian hospitals, 2 Alberta primary care clinics, 2 Ontario family health teams, 5 Ontario community paramedic services, the Canadian Lung Health Foundation and a Canadian Provincial health ministry. Together these clients enrolled approximately 2,900 unique patients in 2023. Upon renewal of these contracts the Company has received orders for Connected Health Kits
valued at CAD 96,000. Recurring subscription revenues from these contracts is expected to increase to CAD 575,000 per year for a total of CAD 1.5 million in contract value to December 31, 2025. Cloud DX earns approximately 77% gross margins as stated in the Company's most recent Financial Statements. From January 1, 2024, Cloud DX has announced new contracts or renewals valued at $4.6 Million, along with new Master Deployment Agreements with VHA HomeHealth Care, the Ottawa Hospital Research Institute and a Master Partnership Agreement with Sanrai International that includes distribution opportunities with Sanrai dealers in 65 countries around the world.