InvestmentPitch Media Video Discusses Reliq Health’s Expansion into Mexico, Anticipates Adding more than 10,000 New Patients to Platform

Rhea-AI Summary

Reliq Health Technologies Inc. has signed its first contract in Mexico, expanding its business into the country. The healthcare organization client will be using Reliq's iUGO Care Remote Patient Monitoring solution, which is expected to add over 10,000 patients to the platform by June 2024. The contract is anticipated to have an average revenue of $50 per patient per month with a 75% gross margin.

Positive

• Reliq Health Technologies Inc. has signed its first contract in Mexico, expanding its business into the country.
• The contract is expected to add over 10,000 patients to Reliq's iUGO Care platform by the end of June 2024.
• The contract is anticipated to generate an average revenue of $50 per patient per month.
• The expected gross margin for the contract is 75%.

Negative

• None.

VANCOUVER, British Columbia, July 07, 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 its first contract in Mexico.

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. 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 excited to be expanding our business into Mexico. Thanks to our success in the Southern US states and our multilingual platform and care management team, we have been able to attract our first client in San Luis Potosi, Mexico. A number of major multinational corporations have operations in San Luis Potosí, including BMW, General Motors and Cummins, and the city has a population of 2.8 million. According to the World Health Organization, Diabetes is one of the leading causes of death in Mexico, where there are also high rates of hypertension, chronic kidney disease and congestive heart failure. The impact of chronic disease on productivity has led many employers in Mexico to offer healthcare coverage focused on preventative care. The two largest providers of public health in Mexico, the Ministry of Health and the Mexican Social Security Institute, have also launched key initiatives aimed at improving the management of chronic disease, creating a significant opportunity for Reliq.”

The new client, a healthcare organization, will be using the company’s iUGO Care Remote Patient Monitoring (RPM) solution, which has been proven to improve health outcomes, increase patient engagement and reduce healthcare costs, even in the most challenging patient populations and environments. This contract is expected to add more than 10,000 patients to the iUGO Care platform by the end of June 2024, at an average of $50 per patient per month with an expected 75% gross margin, with onboarding of new patients to begin next month. Management anticipates an increasing demand for Reliq’s iUGO Care solutions in Mexico going forward.

Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multibillion-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 $0.48. 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.

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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 name of the company that signed the contract in Mexico?

The company that signed the contract in Mexico is Reliq Health Technologies Inc.

What solution will the healthcare organization client be using?

The healthcare organization client will be using Reliq's iUGO Care Remote Patient Monitoring solution.

How many patients are expected to be added to the iUGO Care platform by June 2024?

Over 10,000 patients are expected to be added to the iUGO Care platform by June 2024.

What is the anticipated revenue per patient per month for the contract?

The anticipated revenue per patient per month for the contract is $50.

What is the expected gross margin for the contract?

The expected gross margin for the contract is 75%.