InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, Contracts with 4 New Physician Practices, adding 5,000 Patients, Goes Live with First Client in Data Soft Logic Partnership

Rhea-AI Summary

Reliq Health Technologies (OTCPink:RQHTF) has signed contracts with four physician practices in California and Texas, adding over 5,000 new patients to its telemedicine platform. With anticipated onboarding starting in August, the company expects to generate over CDN$300,000 in additional gross revenue monthly, at an average of US$50 per patient. The initial client via its partnership with Data Soft Logic is live, aiming to onboard over 50,000 patients annually from 2023. Reliq is on track to exceed 100,000 patients on its iUGO Care platform by year-end.

Positive

• Contracts signed with four physician practices, increasing patient base by over 5,000.
• Projected additional gross revenue exceeding CDN$300,000 monthly.
• Onboarding for 50,000+ new patients per year expected to commence through Data Soft Logic partnership.

Negative

• None.

VANCOUVER, British Columbia, July 20, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed contracts with four physician practices in California and Texas to add more than 5,000 new patients to its platform.

When the more than 5,000 new patients are fully onboarded and generating an average revenue of US$50 per patient per month at a 75% gross margin, the company anticipates generating additional gross revenue of more than CDN$300,000 per month. Onboarding with these clients is expected to begin in August.

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The company has also gone live with the first client through its partnership agreement with Data Soft Logic. Onboarding with Data Soft Logic is expected to ramp up over the remainder of 2022, adding over 50,000 patients per year to Reliq’s iUGO Care platform in 2023 and beyond.

California-based Data Soft Logic Corporation (www.DataSoftLogic.com) is a cloud-based home health care and Hospice solution offering a suite of applications including Point of Care, Symptom Management, Billing, Scheduling, Accounting and Human Resources. Data Soft Logic has been partnering with home health, hospice, and therapy agencies for more than 10 years, with its software platform currently used by more than 600 home health and hospice care agencies across the United States.

Dr. Lisa Crossley, CEO, stated: “We are pleased to be adding four new physician practices in California and Texas. We are also very excited to have gone live with our first client through our partnership with Data Soft Logic. Onboarding has already begun with the client. Data Soft Logic’s home health and hospice clients work with over 1,000 primary care physicians who provide care to over 500,000 Medicare and Medicaid patients. As previously disclosed, the Company expects to add over 50,000 patients per year to the platform beginning in 2023 through the partnership with Data Soft Logic, at an average revenue of $60 per patient per month (at 75% gross margin). Reliq remains on track to have over 100,000 patients on our iUGO Care platform by December 31, 2022.”

Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multi-billion dollar healthcare market. The company’s powerful iUGO CARE platform for care coordination and home healthcare integrates wearables, sensors, voice technology with intuitive mobile apps and desktop software for patients, families, clinicians, and healthcare administrators.

The technology platform is a comprehensive SaaS solution that allows complex patients to receive high-quality care at home, improving health outcomes, enhancing the quality of life for patients and families, and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and emergency room visits.

The shares are trading at $0.445. For more information, please visit the company’s website, www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations in the United States is handled by Ben Shamsian of Lytham Partners, who can be reached at 649-829-9701 or by email at shamsian@LythamPartners.com.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Reliq Health Technologies has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the significance of Reliq Health's new contracts signed on July 20, 2022?

The contracts will add over 5,000 new patients, significantly increasing Reliq Health's revenue potential.

What revenue does Reliq Health expect from the new patients?

Reliq Health anticipates generating more than CDN$300,000 in additional gross revenue per month.

How many patients does Reliq Health expect to onboard in 2023?

Reliq plans to onboard over 50,000 patients annually through its partnership with Data Soft Logic.

What is the current trading price of Reliq Health shares?

Reliq Health shares are currently trading at $0.445.

What platform is Reliq Health using for remote patient monitoring?

Reliq Health utilizes its iUGO Care platform for managing patient care and remote monitoring.