Reliq Health Technologies, Inc. Announces Contracts with Three New Clients in California

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) announced contracts with three new healthcare clients in California, including a hospice, home health agency, and care management network. These organizations collectively oversee over 200 physician practices and 50,000 Medicare patients. California, with over 4.5 million Medicare beneficiaries, offers high reimbursement rates, exceeding $400 per patient monthly. The Company expects to generate over $65 per patient from these contracts, starting onboarding next month. Reliq's iUGO Care platform enhances patient care at home, reducing hospital readmissions.

Positive

• Contracts signed with three new clients in California, expanding market presence.
• Access to over 50,000 eligible Medicare patients through these contracts.
• Expected revenue generation of over $65 per patient per month.

Negative

• None.

HAMILTON, Ontario, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global medtech company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced that it has signed contracts with three new clients in California including a hospice care organization, a home health agency network and a care management network.

“We are very excited to be expanding our business in California,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “These three healthcare organizations together have over 200 physician practices and over 50,000 eligible Medicare patients throughout the state. California has the largest number of Medicare beneficiaries of any state, with over 4.5 Million Medicare-enrolled residents. As the population ages, the percentage of Californians covered by Medicare will continue to rise faster than the national average. Over 79% of Medicare patients in California or over 3.5 Million individuals have two or more chronic conditions. Medicare reimbursement in California is among the highest in the US, and physician practices in California can receive more than $400 per patient per month from the Centers for Medicare & Medicaid Services (CMS) for services provided using Reliq’s iUGO Care platform. The Company expects to generate over $65 per patient per month through these contracts. Onboarding with the first two physician practices is expected to begin next month.”

Reliq Health
Reliq Health Technologies is a rapidly growing global medtech 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 WKN as 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 recent contracts did Reliq Health Technologies sign?

Reliq Health Technologies signed contracts with three new healthcare clients in California.

How many Medicare patients are associated with Reliq's new contracts?

The new contracts involve over 50,000 eligible Medicare patients.

What is the expected revenue per patient from Reliq's new contracts?

Reliq expects to generate over $65 per patient per month from the new contracts.

What is the significance of California for Medicare patients?

California has over 4.5 million Medicare beneficiaries, the highest in the US, and high reimbursement rates.