InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, Signs Contract with Physician Practice Network in Florida, Adding more than 50,000 Patients to Platform

Rhea-AI Summary

Reliq Health Technologies Inc. (OTCPink:RQHTF) has secured a contract with a Florida physician practice network to onboard over 50,000 patients to its iUGO Care platform. By the end of 2023, this could generate approximately CDN$3.9 million monthly, translating to an average revenue of US$60 per patient per month at a 75% gross margin. The onboarding process is already underway. Reliq aims to enhance healthcare outcomes and reduce costs for Medicare patients with chronic conditions through its comprehensive Virtual Care solutions.

Positive

• New contract signed with a Florida physician network to onboard over 50,000 patients.
• Projected gross revenue boost of approximately CDN$3.9 million per month by end of 2023.
• Average revenue expected at US$60 per patient per month with a 75% gross margin.
• Ongoing onboarding process is indicative of business growth.

Negative

• None.

VANCOUVER, British Columbia, Sept. 08, 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 a new contract with a physician practice network in Florida to onboard more than 50,000 patients to its iUGO Care platform.

When the more than 50,000 new patients are fully onboarded by the end of 2023 and generating an average revenue of US$60 per patient per month at a 75% gross margin, the company anticipates generating additional gross revenue of approximately CDN$3.9 million per month.

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 working with our new client in Florida to improve health outcomes and reduce healthcare costs for over 50,000 Medicare patients with chronic conditions. Reliq will be providing the full suite of iUGO Care software along with care management services as needed. Onboarding of these patients has already begun and is expected to be completed over the next five quarters, by the end of 2023. Our iUGO Care platform is proven to reduce hospitalizations, improve patient quality of life and generate significant new revenues for clinicians. Being selected by a large client like this is a testament to the Company’s strong and growing reputation as a leader in the virtual care space.”

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 $0.56. 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 the new contract for Reliq Health (RQHTF)?

The new contract allows Reliq Health to onboard over 50,000 patients, potentially increasing monthly revenue by CDN$3.9 million by the end of 2023.

How much revenue is Reliq Health expecting per patient in this new contract?

Reliq Health anticipates generating an average revenue of US$60 per patient per month from the new contract.

What platform will be used for the new patient onboarding?

The onboarding will utilize Reliq Health's iUGO Care platform.

When is the onboarding of patients expected to be completed?

The onboarding of the patients is expected to be completed by the end of 2023.