Reliq Health Technologies, Inc. Announces New Contract with Leading US Healthcare Company with 75 Locations in Eight States

Rhea-AI Summary

Reliq Health Technologies signs contract with leading US healthcare company, expects to add 25,000 new patients to iUGO Care platform in Kentucky, generating $65 per patient per month at ~70% gross margin.

Positive

• Reliq Health Technologies signs contract with leading US healthcare company
• Expects to add 25,000 new patients to iUGO Care platform in Kentucky
• Revenue of $65 per patient per month at ~70% gross margin

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• None.

HAMILTON, Ontario, Sept. 12, 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 contract with a leading US healthcare company with 75 locations in 8 States. The client provides integrated services across the continuum of care including skilled nursing, rehabilitation, dialysis, long term care, memory care and home health. The client has been recognized by both Newsweek and US News & World Report as having some of the top long-term care and skilled nursing facilities in the US.

“This is a huge win for Reliq that further reinforces our reputation as the gold standard virtual care solution for patients with chronic conditions,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “Our client is consistently ranked among the top providers in the US for both short- and long-term inpatient care. We were able to secure this contract thanks to Reliq’s documented success with our Skilled Nursing Facility clients in Florida, where we have reduced readmission rates by over 80%, enabling our clients to avoid significant financial penalties from Medicare and Medicaid. We will begin our staged roll out with the client’s facilities in Kentucky, a State with very high rates of hypertension and diabetes, particularly amongst seniors. Reliq will be providing Remote Patient Monitoring (RPM), Remote Therapeutic Monitoring (RTM), Chronic Care Management (CCM), Behavioural Health Integration (BHI) and Transitional Care Management (TCM) to patients both in-facility and in the community. We expect to add more than 25,000 new patients to the iUGO Care platform over the first 12 months of this initial deployment in Kentucky, with implementation plans for the facilities in the other seven States to be finalized with the client in the new year. We expect to generate revenue of $65 per patient per month at ~70% gross margin. Onboarding will begin next quarter.”

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.