Reliq Health Technologies, Inc. Announces Expansion of Contract with a Large US Healthcare Group to add over 30,000 New Patients to iUGO Care
Reliq Health Technologies has expanded its contract with a large US healthcare group, potentially adding over 30,000 new patients to its iUGO Care platform by the end of 2025. The client, originally using Reliq's services in Florida, will now include facilities in Pennsylvania. This expansion is expected to generate an average revenue of $65 per patient per month. The healthcare group manages over 80,000 patients across Florida, Pennsylvania, Illinois, and Michigan. Reliq's iUGO Care platform offers solutions for remote patient monitoring, chronic care management, and behavioral health integration, which aim to improve health outcomes and reduce care costs.
- Expansion agreement potentially adds over 30,000 new patients to iUGO Care.
- Average revenue of $65 per patient per month.
- Client operates in multiple states including Florida, Pennsylvania, Illinois, and Michigan.
- Reliq Health services will expand to the fifth largest state, Pennsylvania.
- iUGO Care platform enhances quality of life and reduces care delivery costs.
- Expansion completion is projected by the end of 2025, which may be a long timeline for immediate impact.
- No specific financial figures disclosed for initial implementation costs.
HAMILTON, Ontario, May 17, 2024 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a 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 expanded a previously announced contract with a large US health group. The original contract involved Skilled Nursing Facilities (SNFs) in Florida, and the client has now chosen to expand its use of Reliq’s software and services into their facilities in Pennsylvania. The client operates a network of SNFs in FL, PA, IL and MI and has over 80,000 patients under contract. The expansion is expected to potentially add over 30,000 new patients to Reliq’s iUGO Care platform by the end of 2025 at an average revenue of
“We are very pleased that our client has asked to expand their deployments to include Pennsylvania, the fifth largest State in the US by population,” said Chris Shields, CEO at Reliq Health Technologies, Inc. “Our client is a large US health group that takes a proactive approach to patient care in order to improve health outcomes and reduce costs. The iUGO Care Remote Patient Monitoring, Chronic Care Management and Behavioral Health Integration solutions Reliq will be providing will enable effective preventative care, allowing our client to achieve their cost and quality of care objectives.”
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
“Chris Shields”
Interim CEO
For further information please contact:
Company Contact
Investor Relations at ir@reliqhealth.com
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SOURCE: Reliq Health Technologies Inc.
FAQ
What is the impact of the contract expansion on Reliq Health Technologies' patient count?
Which states are involved in Reliq Health Technologies' expanded contract?
How much revenue is Reliq Health Technologies expected to generate per new patient?
What solutions does Reliq Health Technologies provide through its iUGO Care platform?
What is the anticipated completion date for the contract expansion?
