Reliq Health Signs 8 New Physician Clients in CA, NV and TX, adding more than 5,000 Patients to its iUGO Care Platform – Video on InvestmentPitch Media

Rhea-AI Summary

Reliq Health Technologies has signed contracts with eight new physician clients across Texas, California, and Nevada, aiming to expand its iUGO Care platform. These contracts are projected to onboard at least 5,000 new patients over the next two quarters, generating an average revenue of $65 per patient per month with a 75% gross margin. The onboarding process is set to begin this month. CEO Dr. Lisa Crossley highlighted significant improvements in health outcomes, boasting that patients using iUGO Care have over 80% lower hospitalization rates. Reliq's shares are currently trading at $0.60.

Positive

• New contracts with eight physician clients expected to add at least 5,000 new patients.
• Projected average revenue of $65 per patient per month with a 75% gross margin.
• iUGO Care platform demonstrates significant effectiveness in reducing hospitalization rates.

Negative

• None.

VANCOUVER, British Columbia, Jan. 16, 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, continues to add multiple clients in the US to its iUGO Care platform.

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Reliq has signed new contracts with three multi-physician clinics in North Texas and another five single physician practices providing care to patients in California and Nevada. These eight contracts are expected to add at least 5,000 new patients to Reliq’s iUGO Care platform over the next two quarters, at an average revenue of $65 per patient per month with a 75% gross margin. Onboarding of these new patients is expected to begin this month.

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Dr. Lisa Crossley, CEO, stated: “We are very pleased to be continuing to expand our presence in California, Nevada and Texas. Reliq continues to attract new clients through referrals from existing customers who have seen firsthand how effective the platform is at improving health outcomes, reducing hospitalizations and decreasing healthcare costs. The data we’ve collected from client deployments show that patients using iUGO Care have hospitalization rates that are over 80% lower than patients with the same chronic conditions who aren’t using iUGO Care. Hospitalizations are the primary cost driver for this patient population, so this is a very meaningful metric. Particularly during the current RSV-COVID-influenza “tripledemic,” keeping patients at home and out of hospital is critical to reducing the risk of infection with these highly contagious diseases, and to preventing the associated complications in high risk chronic disease patients.”

The company’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for both patients and families while reducing the cost of care delivery.
The platform 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 $0.60. 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 recent developments has Reliq Health Technologies announced?

Reliq Health Technologies has announced contracts with eight new physician clients, which will expand their iUGO Care platform and add approximately 5,000 new patients.

What is the expected revenue impact from the new contracts signed by Reliq Health Technologies?

The new contracts are expected to generate an average revenue of $65 per patient per month, contributing significantly to Reliq's financials.

How does the iUGO Care platform impact patient hospitalization rates?

Patients using Reliq's iUGO Care platform experience hospitalization rates that are over 80% lower compared to those who do not use the service.

What is Reliq Health Technologies' current stock price?

Reliq Health Technologies' shares are currently trading at $0.60.