Reliq Health Technologies, Inc. Announces New Contract, Expansion into Clinical Trials Market

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) has entered an agreement with a US Contract Research Organization to utilize its iUGO Care software for oncology clinical trials. The oncology market is valued at over $10 billion and is expected to grow significantly. Reliq anticipates onboarding over 3,000 patients, generating approximately $40 per patient per month in recurring revenue. This move marks Reliq's expansion into the clinical trials space, leveraging its innovative healthcare solutions to enhance patient outcomes and monitoring.

Positive

• Signed agreement with a US Contract Research Organization.
• Oncology clinical trial market is valued at over $10 billion and growing.
• Expected recurring revenue of approximately $40 per patient per month.
• Plans to onboard over 3,000 clinical trial patients in 2022.

Negative

• None.

HAMILTON, Ontario, March 24, 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 an agreement with a US Contract Research Organization to use its iUGO Care software and Patient Engagement services to support their oncology clinical trials.

“We are very excited to be moving into the clinical trials space,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “The oncology clinical trial market alone is value at over $10 billion USD and is growing at over 5% per year. Using our iUGO Care platform and Patient Engagement services, Contract Research Organizations (CROs) can monitor trial-specific metrics such as medication adherence, side effects/safety and efficacy, and can also monitor existing comorbidities that must be tightly controlled during clinical trials such as hypertension, diabetes and other chronic conditions. We are very pleased to be working with our new client, a highly respected and experienced CRO that in the last year alone conducted over 1,000 clinical trials involving over 200,000 physicians and more than 600 clinical sites. We will be utilizing a combination of our proprietary solutions for the clinical trials, including iUGO Care, iUGO Home, iUGO Voice and the MiUGO patient portal. This contract is expected to generate recurring revenue of approximately $40 per patient per month. The Company expects to onboard over 3,000 clinical trials patients in 2022 through this contract.”

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 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 is the significance of Reliq Health's new contract for oncology clinical trials?

The contract with a US Contract Research Organization allows Reliq Health to expand its business into the oncology clinical trials market, which is valued at over $10 billion.

How many patients does Reliq Health expect to onboard through the new contract in 2022?

Reliq Health expects to onboard over 3,000 clinical trial patients in 2022.

What kind of revenue can Reliq Health generate from its new contract?

Reliq Health anticipates generating approximately $40 per patient per month in recurring revenue from the contract.

What technology will Reliq Health use for the clinical trials?

Reliq Health will utilize its iUGO Care platform and Patient Engagement services to support the oncology clinical trials.