InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, signs eight contracts, adding more than 5,000 new patients to its healthcare platform

Rhea-AI Summary

Reliq Health Technologies has signed eight new contracts across five states, expanding its reach in the telemedicine sector. These contracts encompass six clinics and two physician practices, adding over 5,000 patients to the company’s iUGO Care platform. Anticipating a gross revenue increase of over CDN$325,000 monthly, the company aims to onboard more than 100,000 patients by the end of 2022. Reliq Health emphasizes addressing healthcare disparities in rural areas, providing high-quality virtual care to improve health outcomes while decreasing costs.

Positive

• Secured eight new contracts, expanding the patient base significantly.
• Anticipates generating over CDN$325,000 in additional monthly gross revenue.
• Plans to onboard over 100,000 patients by the end of 2022.

Negative

• None.

VANCOUVER, British Columbia, Aug. 10, 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 eight new contracts in five states. These contracts with six clinics and two physician practices provide care to patients in Idaho, New Mexico, California, Nevada and Texas.

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.

These eight contracts are expected to add more than 5,000 patients to the company’s iUGO care platform over the next nine months, with onboarding of these patients expected to begin next month. When the more than 5,000 new patients are fully onboarded in the next nine months 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$325,000 per month.

Reliq Health remains on track to onboard more than 100,000 patients by the end of calendar year 2022 and more than 200,000 patients by the middle of calendar year 2023.

Dr. Lisa Crossley, CEO, stated: “We are very pleased to be expanding into Idaho and New Mexico as well as growing our business in states where we already have a significant presence. According to the Chronic Care Policy Alliance, approximately 15% of the population in New Mexico and 13% of the population in Idaho are in Poor to Fair health. Over 46% of the population in New Mexico and Idaho have at least one chronic condition. Access to care is particularly challenging for chronic disease patients living in rural communities in these and other states. Reliq’s iUGO Care platform allows patients to receive high quality virtual healthcare in the comfort of their homes, reducing the disparity in access to care between rural and urban populations, improving health outcomes and reducing healthcare costs.”

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 community-based virtual 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 $0.57. 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.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CEO
bmorgan@investmentpitch.com

FAQ

What recent contracts were signed by Reliq Health Technologies?

Reliq Health Technologies signed eight new contracts in five states, adding over 5,000 patients to their iUGO Care platform.

How much additional revenue is Reliq Health expecting from new contracts?

Reliq Health anticipates generating over CDN$325,000 in additional gross revenue monthly from the new contracts.

When is Reliq Health expected to onboard new patients?

Onboarding of the over 5,000 new patients is expected to begin next month.

How many patients does Reliq Health plan to onboard by the end of 2022?

Reliq Health plans to onboard more than 100,000 patients by the end of calendar year 2022.

Which states are included in Reliq's recent contract expansion?

The recent contracts are in Idaho, New Mexico, California, Nevada, and Texas.