Reliq Health Technologies, Inc. Announces Four New US Contracts, Go-Live with Data Soft Logic
Reliq Health Technologies (OTC:RQHTF) announced new contracts with four physician practices in California and Texas, expected to onboard over 5,000 patients to its iUGO Care platform in the next nine months. The average revenue is projected at $50 per patient, with a gross margin of 75%. Additionally, the company has gone live with its first client through Data Soft Logic, with expectations to add over 50,000 patients annually starting in 2023, generating around $60 per patient, also at 75% gross margin. Reliq aims to reach over 100,000 patients by the end of 2022.
- New contracts with four physician practices to add over 5,000 patients to the iUGO Care platform.
- Projected average revenue of $50 per patient per month with a 75% gross margin.
- Successful onboarding of the first client through Data Soft Logic, with expectations to add over 50,000 patients annually starting in 2023.
- Targeting over 100,000 patients on the iUGO Care platform by December 31, 2022.
- None.
HAMILTON, Ontario, July 19, 2022 (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, today announced that it has signed new contracts with four physician practices in California and Texas to add over 5,000 new patients to its platform. The Company is also pleased to announce that it has gone live with the first client through its partnership agreement with Data Soft Logic. Onboarding with Data Soft Logic is expected to ramp up over the remainder of 2022, adding over 50,000 patients per year to Reliq’s iUGO Care platform in 2023 and beyond.
“We are pleased to be adding four new physician practices in California and Texas,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Together these clients are expected to add over 5,000 patients to our platform in the next nine months at an average revenue of
“We are also very excited to have gone live with our first client through our partnership with Data Soft Logic. Onboarding has already begun with the client. Data Soft Logic is a provider of cloud-based home health and hospice care solutions that include point of care, billing, scheduling, accounting and human resources applications. Their solutions are currently used by over 600 home health and hospice care agencies across the United States. Data Soft Logic’s home health and hospice clients work with over 1,000 primary care physicians who provide care to over 500,000 Medicare and Medicaid patients. As previously disclosed, the Company expects to add over 50,000 patients per year to the platform beginning in 2023 through the partnership with Data Soft Logic, at an average revenue of
About Data Soft Logic
Data Soft Logic Corporation is a cloud-based home health care and Hospice solution offering a suite of applications including Point of Care, Symptom Management, Billing, Scheduling, Accounting and Human Resources. Data Soft Logic software is powerful and meaningful with simplicity of use for superior connected care at point of delivery. We are proud to have partnered with home health, hospice, and therapy agencies for over 10 years. Learn more at www.datasoftlogic.com.
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 sign?
What is the expected revenue per patient for the new contracts?
How many patients does Reliq expect to onboard in 2023 through Data Soft Logic?
What is the target number of patients on the iUGO Care platform by the end of 2022?
