InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, Goes Live with First Clinical Trials This Month and Signs Four New Contracts in Texas and Florida

Rhea-AI Summary

Reliq Health Technologies Inc. (OTCPink:RQHTF) is launching its first clinical trials this month, targeting hypertension and oncology. The trials, utilizing the iUGO Care platform, are expected to enroll over 1,000 patients, generating an average revenue of US$40 per patient monthly with a 75% gross margin. Additionally, Reliq has signed four contracts in Texas and Florida, projected to onboard 2,000 patients by year-end, potentially adding CDN$150,000 monthly in gross revenue. Shares are currently trading at $0.58.

Positive

• Initiation of first clinical trials expected to enroll over 1,000 patients.
• Anticipated revenue of US$40 per patient per month with a gross margin of 75%.
• Four new contracts expected to onboard over 2,000 patients, generating additional gross revenue of CDN$150,000 per month.

Negative

• None.

VANCOUVER, British Columbia, May 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, is going live with its first clinical trials this month and signs four new contracts in Texas and Florida.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Reliq” in the search box.

Dr. Lisa Crossley, CEO, stated: “We are very pleased to be going live in our first clinical trials this month. Our Clinical Research Organization (CRO) client will be using Reliq’s iUGO Care platform to monitor patients in two separate clinical trials focused on hypertension and oncology, respectively. Using iUGO Care for clinical trials allows CROs and trial sponsors to monitor trial-specific metrics such as medication adherence, side effects, safety issues and efficacy. These two trials are expected to add at least 1,000 patients to the iUGO Care platform this year and generate average revenue of US$40 per patient per month at a gross margin of 75%.”

The four new contracts, with two physician practices and two home health agencies, are expected to onboard, starting in June, more than 2,000 new patients in Texas and Florida to Reliq’s iUGO Care platform in 2022. When the more than 2,000 new patients are fully onboarded by the end of the calendar year and generating an average revenue of US$60 per patient per month, the company anticipates generating additional gross revenue of more than CDN$150,000 per month. Onboarding of previous new patients continues to accelerate this quarter.

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 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 $0.58. 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 purpose of the clinical trials launched by Reliq Health Technologies in May 2022?

The clinical trials aim to monitor patients with hypertension and oncology conditions using the iUGO Care platform.

How many patients does Reliq Health expect to enroll in its first clinical trials?

Reliq Health anticipates enrolling at least 1,000 patients in its first clinical trials.

What is the expected revenue per patient per month from the clinical trials?

The expected revenue is US$40 per patient per month, with a gross margin of 75%.

How many new contracts did Reliq Health sign in Texas and Florida?

Reliq Health signed four new contracts in Texas and Florida.

What is the projected gross revenue from the new contracts signed by Reliq Health?

The projected additional gross revenue is over CDN$150,000 per month from onboarding more than 2,000 patients.