Reliq Health Technologies, Inc. Announces New Contract with Large Healthcare System with over 1,200 Care Centers across 7 US States
Reliq Health Technologies Inc. (OTC:RQHTF) has signed a significant contract with a large healthcare system operating over 1,200 care centers across several states. The onboarding will commence next month at 20 Skilled Nursing Facilities, projected to add 2,000 new patients monthly to Reliq’s iUGO Care platform by year-end 2023. With an average revenue of $65 per patient per month, this represents a potential gross margin of 75%. Dr. Lisa Crossley highlighted the importance of this contract as validation of Reliq's market position and value proposition in delivering virtual care solutions.
- New contract with a large healthcare system expected to enhance revenue.
- Projection of adding 2,000 new patients per month to the iUGO Care platform.
- Average revenue of $65 per patient could result in significant monthly income.
- Potential gross margin of 75% from the new clients.
- None.
HAMILTON, Ontario, March 16, 2023 (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, is pleased to announce that it has signed a new contract with a large healthcare system with over 1,200 care centers across New York, Ohio, Maryland, Virginia, Florida, Kentucky and South Carolina. Onboarding with this new client will begin next month at 20 of their Skilled Nursing Facilities, which are expected to add over 2,000 new patients per month to Reliq’s iUGO Care platform by the end of 2023, at an average revenue of
“We are very excited to have signed a new client that has such a strong presence across seven US states,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “This client has over 1,200 care centers across New York, Ohio, Maryland, Virginia, Florida, Kentucky and South Carolina including Skilled Nursing Facilities (SNFs), hospitals, home health agencies, hospice agencies and primary care clinics. The healthcare system has more than 10 million patient encounters a year across their network. It is a clear validation of our unique value proposition that Reliq is able to attract such large and well-respected healthcare clients. We will initially begin deploying our iUGO Care platform with 20 of the client’s Skilled Nursing Facilities, providing newly discharged patients with high quality, long term virtual care in the comfort of their own homes using our Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. With these first 20 facilities alone we expect to add over 2,000 patients per month to the iUGO Care platform at an average revenue of
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.
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