Reliq Health Technologies, Inc. Announces 10 New Contracts in Nevada, Texas and Northern California
Reliq Health Technologies Inc. has signed 10 new contracts with eight physician practices in Nevada and Northern California, plus two home health agencies in Texas. This expansion will add over 5,000 new patients to the iUGO Care platform by the end of 2023, generating an average revenue of $65 per patient per month with an expected 75% gross margin. The company aims to enhance healthcare access, particularly in rural areas facing care challenges. Reliq's iUGO Care platform facilitates remote patient monitoring and chronic care management, ultimately improving health outcomes and reducing care delivery costs.
- Signed 10 new contracts with eight physician practices and two home health agencies.
- Expected to add over 5,000 new patients to the iUGO Care platform.
- Average revenue of $65 per patient per month.
- Projected 75% gross margin from new contracts.
- None.
HAMILTON, Ontario, March 30, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, is pleased to announce that it has signed 10 new contracts with eight physician practices in Nevada and Northern California, and two home health agencies in Texas. These clients are expected to add over 5,000 new patients to Reliq’s iUGO Care platform by the end of 2023 at an average revenue of
“We are pleased to be adding these ten new clients to our platform, and to be expanding beyond our current presence in Southern California to Northern California,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Patients in Northern California outside of the large urban centers face significant challenges in accessing care. There is a large rural Medicare population in Northern California and we are excited to be working with their care providers to help provide access to high quality virtual care. In Nevada and California, the physician practices will be providing Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) to their patients. In Texas, the home health agencies will be providing RPM to their patients. Through these contracts we expect to add over 5,000 patients to the iUGO Care platform by the end of 2023 at an average revenue of
Reliq Health
Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’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 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 ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN:A2AJTB.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
For further information please contact:
Company Contact
Investor Relations at ir@reliqhealth.com
US Investor Relations Contact
Investor Relations
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
646-829-9701
shamsian@lythampartners.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Reliq Health Technologies Inc. (the "Company") does not intend and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
FAQ
What new contracts did Reliq Health Technologies announce?
How many new patients will be added to the iUGO Care platform?
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What is the expected gross margin from new contracts?
