InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, has Signed 5 Contracts with Three Physician Practices and a Home Health Agency in California, Nevada and Texas and a Rural Health Clinic in the US Virgin Islands

Rhea-AI Summary

Reliq Health Technologies Inc. (OTCPink:RQHTF) has signed five new contracts with three physician practices and a home health agency across California, Nevada, Texas, and the US Virgin Islands. The onboarding is set to add 5,000 patients to the iUGO Care platform, with anticipated gross revenue of approximately CDN$400,000 monthly once fully operational. The company aims to onboard over 100,000 patients by the end of 2022 and monetize anonymized patient data by late 2023. Shares currently trade at $0.54.

Positive

• Signed 5 new contracts expanding services in multiple states and territories.
• Expected onboarding of 5,000 new patients, generating potential gross revenue of CDN$400,000 monthly.
• Aims to onboard over 100,000 patients by the end of 2022, enhancing revenue potential.

Negative

• None.

VANCOUVER, British Columbia, Oct. 07, 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 5 new contracts with three physician practices and a home health agency in California, Nevada and Texas and a Rural Health Clinic in the US Virgin Islands.

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, along with video comments by Bruce Campbell, President and Portfolio Manager at StoneCastle Investment Management. 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.

The company has already begun onboarding these clients and expects to add 5,000 new patients to its iUGO Care platform. When these 5,000 new patients are fully onboarded by the end of June 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$400,000 per month.

Dr. Lisa Crossley, CEO, stated: “It is very gratifying to continue to see strong and growing demand for Reliq’s virtual care solutions in California, Nevada and Texas. We are also very excited to be expanding in the US Virgin Islands with another Rural Health Clinic client. The Company will be providing the full suite of iUGO Care software and care management services (as needed) to these clients. The Company remains on track to onboard over 100,000 patients by the end of December 2022 and over 200,000 patients by the middle of 2023. With this large patient population on the platform in 2023, Reliq expects to start monetizing its database of anonymized patient data in late 2023, introducing a significant new source of revenue for the business.”

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 $0.54. 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 new contracts did Reliq Health Technologies sign?

Reliq Health Technologies signed five new contracts with three physician practices and a home health agency.

How many new patients is Reliq Health expected to onboard?

Reliq Health expects to onboard 5,000 new patients to its iUGO Care platform.

What is the projected revenue from the new patients?

The projected revenue from the new patients is approximately CDN$400,000 per month.

When does Reliq Health expect to monetize its patient data?

Reliq Health anticipates monetizing its anonymized patient data by late 2023.

What is the stock price of Reliq Health Technologies?

Reliq Health Technologies shares are currently trading at $0.54.