Equitable Life Signs Cloud DX to Deliver New Remote Monitoring Benefits for Critical Illness Clients

Insurer is the first in Canada to offer health and medical monitoring through Cloud DX to its individual life critical illness clients

News in Summary

– Equitable Life® has chosen Cloud DX to provide remote patient monitoring services to critical illness insurance clients

– Eligible claimants will receive a Cloud DX Connected Health™ kit and monitoring services for up to six months, covered by Equitable Life®, after which continue service would be user paid

– Equitable Life® is the first insurer in Canada to offer health and medical monitoring through Cloud DX to its individual life critical illness clients.

KITCHENER, ON / ACCESSWIRE / February 14, 2022 / Cloud DX (TSXV:CDX) (OTCQB:CDXFF) and Equitable Life of Canada®, have announced an agreement to leverage Cloud DX’s Connected Health Kit to deliver a remote patient monitoring benefit to eligible Equitable Life® critical illness insurance claimants through the insurer’s EquiLiving® product, making Equitable Life® the first insurer in Canada to offer health and medical monitoring through Cloud DX to all of its individual life critical illness clients.

“We care deeply about the health of our clients and are pleased to be the first insurer in Canada to offer direct access to leading virtual and remote care to clients at a time when they need it most, during the treatment of and recovery from a critical illness,” says Donna Carbell, Senior Vice President Individual at Equitable Life. “Cloud DX is a proven and effective way to support our clients who are in recovery. Through this new offering, our critical illness clients will benefit from the ability to monitor their vitals and receive educational information and important care support during their treatment and recovery, while supported by their critical illness insurance policy which provides financial benefits. This is a game-changing value-added benefit that is only available today through Equitable Life.”

Under the agreement eligible Equitable Life claimants* will have direct and daily access to Cloud DX’s industry-leading virtual and remote care monitoring services. Cloud DX offers users the ability to take clinical vital sign measurements and participate in two-way feedback via surveys, text messaging, and video calls with a healthcare professional, complete with daily reminders and notifications. Available through a user’s smartphone or tablet, CLOUD DX gives the user and their assigned care team information about their condition in real-time.

Eligible Equitable Life claimants who have been approved for a full benefit critical illness insurance claim will have access to Cloud DX for up to six months at no cost (fees to be covered by Equitable Life). Users will have an option to continue with the remote monitoring service after six months for a monthly fee payable directly to Cloud DX.

“We are incredibly proud to support Equitable Life in this exciting and innovative initiative – a first for the insurance sector,” says Robert Kaul, CEO and Founder at Cloud DX. “Life altering critical illnesses such as cancer or heart disease affect an individual’s life, relationships, mental wellbeing, and their ability to generate income. Insurers such as Equitable Life play a vital role in helping people manage financially through their illness, get back on their feet and manage the long-lasting effects of their illness. Our technology will play a vital role in providing medical support to clients when they need it the most and in improving their health outcomes and quality of life.”

About Equitable Life

Canadians have turned to Equitable Life since 1920 to protect what matters most. We work with independent advisors across Canada to offer individual insurance, savings & retirement, and group benefits solutions to meet your needs.

Equitable Life is not your typical financial services company. We have the knowledge, experience and ability to find solutions that work for you. We’re friendly, caring and interested in helping. As a mutual company, we are not driven by shareholder pressures for quarterly results. This allows us to focus on management strategies that foster prudent long-term growth, continuity and stability. We are dedicated to meeting our commitments to clients – now and in the future.

Equitable Life of Canada, Equitable Life and EquiLiving are registered trademarks of The Equitable Life Insurance Company of Canada. *To be eligible for the Cloud DX offering, a claimant must be age 12 or older and have received payment on or after February 12, 2022 for a covered critical condition benefit under an individual critical illness insurance policy issued by Equitable Life. An early detection benefit payment does not qualify. Cloud DX is a non-contractual benefit and may be withdrawn or changed by Equitable Life at any time.

About Cloud DX

Accelerating virtual healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected Health^TM 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 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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SOURCE: Cloud DX Inc.

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