Reliq Health Technologies, Inc. Announces Go Live in Two Clinical Trials, New Contracts in TX and FL

Rhea-AI Summary

Reliq Health Technologies (OTC:RQHTF) announced that its iUGO Care platform will launch in two clinical trials this month, enrolling over 1,000 patients focused on hypertension and oncology. The company signed four new contracts in Texas and Florida, expected to onboard an additional 2,000 patients by year-end. Revenue generation is projected at $40 per patient per month for the trials and over $60 for new contracts, both at a gross margin of 75%. This expansion underlines Reliq's growth in the healthcare technology market.

Positive

• Launch of iUGO Care platform in two clinical trials with over 1,000 patients.
• Four new contracts expected to add 2,000 patients in Texas and Florida.
• Projected revenue of $40 per patient per month from trials.
• Projected revenue of over $60 per patient per month from new contracts.

Negative

• None.

HAMILTON, Ontario, May 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 its iUGO Care platform will go live in two clinical trials this month involving over 1,000 patients. The Company also announced that it has signed four new contracts with clients in Texas and Florida that are expected to add over 2,000 patients to Reliq’s iUGO Care platform in 2022.

“We are very pleased to be going live in our first clinical trials this month,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Our Clinical Research Organization (CRO) client will be using Reliq’s iUGO Care platform to monitor patients in two separate clinical trials focused on hypertension and oncology, respectively. Using iUGO Care for clinical trials allows CROs and trial sponsors to monitor trial-specific metrics such as medication adherence, side effects, safety issues and efficacy. These two trials are expected to add at least 1,000 patients to the iUGO Care platform this year and generate average revenue of $40 per patient per month at a gross margin of 75%. The Company has also signed four new contracts with two physician practices and two home health agencies that are expected to onboard over 2,000 new patients in Texas and Florida to Reliq’s iUGO Care platform in 2022. Onboarding will begin next month and is expected to be completed by the end of the calendar year. The contracts are expected to generate an average revenue of over $60 per patient per month at 75% gross margin.”

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 is the purpose of the clinical trials involving Reliq's iUGO Care platform?

The clinical trials aim to monitor patients for hypertension and oncology, focusing on metrics like medication adherence and safety.

What are the expected revenue and margins from the new contracts signed by Reliq Health?

The new contracts are expected to generate over $60 per patient per month at a 75% gross margin.

How many patients will be enrolled in the clinical trials for iUGO Care?

Over 1,000 patients are expected to be enrolled in the clinical trials this month.

When will onboarding of new patients for the iUGO Care platform begin?

Onboarding will start next month and is expected to be completed by the end of the calendar year.

What is the stock symbol for Reliq Health Technologies?

Reliq Health Technologies trades on the OTC under the symbol RQHTF.