InvestmentPitch Media Video Discusses Reliq Health and its New Contract with Large U.S. Healthcare System, adding more than 1,200 Care Centers across 7 States

Rhea-AI Summary

Reliq Health Technologies Inc. (OTCPink:RQHTF) has secured a contract with a significant healthcare system managing over 1,200 care centers across seven states in the U.S. This includes skilled nursing facilities, hospitals, and home health agencies. The company anticipates onboarding more than 2,000 patients monthly through its iUGO Care platform, generating an estimated US$60 per patient initially and US$65 monthly thereafter, with a projected 75% gross margin. Market research indicates the skilled nursing facility market could reach US$252 billion by 2032. Reliq's platform aims to enhance patient care while reducing healthcare costs.

Positive

• Secured contract with a large healthcare system managing over 1,200 care centers.
• Potential to onboard over 2,000 patients monthly, significantly increasing revenue.
• Estimated revenue of US$60 per patient for first month and US$65 thereafter.
• Projected gross margin of 75% on services.

Negative

• None.

VANCOUVER, British Columbia, March 17, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global healthcare technology company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed a new contract with a large healthcare system with more than 1,200 care centers in the U.S. This client’s care centers are spread across New York, Ohio, Maryland, Virginia, Florida, Kentucky and South Carolina and include Skilled Nursing Facilities, hospitals, home health agencies, hospice agencies and primary care clinics.

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 news about the company along with video comments from Dr. Crossley. 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.

With these first 20 facilities alone, which are Skilled Nursing Facilities, management expects to add more than 2,000 patients per month to its iUGO Care platform at an average revenue of US$60 per patient for the first 30 days post-discharge and US$65 per patient per month for every subsequent month, at an expected 75% gross margin. When you consider these first 20 facilities will be adding more than 2,000 patients per month, represent less than 2% of the 1,200 care centres included in this new contract, it is hard to imagine the full revenue potential from this one contract.

With a Skilled Nursing Facility, trained registered nurses provide the same level of nursing care you receive in a hospital, in a medical setting, under a doctor’s supervision. After an illness, injury or surgery, patients may go from a hospital to a Skilled Nursing Facility to continue recovering, where in addition to skilled nursing, the care may include rehabilitative services from licensed physical, occupational or speech therapists.

Market research firm “Future Market Insights” states that the U.S. skilled nursing facility market is expected to grow at a compound annual growth rate of 3.32%, reaching US$252 billion by 2032. 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, allowing 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 $0.52. 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.

About InvestmentPitch Media

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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 recent contract did Reliq Health Technologies Inc. sign?

Reliq Health Technologies signed a contract with a large U.S. healthcare system managing over 1,200 care centers.

How many patients does Reliq expect to add monthly from the new healthcare contract?

Reliq expects to add more than 2,000 patients per month from the new healthcare contract.

What is the estimated revenue per patient for Reliq's iUGO Care platform?

Reliq anticipates generating approximately US$60 per patient for the first month and US$65 per month thereafter.

What is the projected gross margin for Reliq's services?

Reliq expects a gross margin of 75% from its services through the iUGO Care platform.

What is the future market outlook for skilled nursing facilities?

The U.S. skilled nursing facility market is projected to grow to US$252 billion by 2032.