Reliq Health Technologies, Inc. Announces New Contract with US Physician Network with over 300 Locations and over 750 Physicians Nationwide

Rhea-AI Summary

Reliq Health Technologies signs new contract with physician network, expected to add over 100,000 new patients to platform by end of 2025

Positive

• New contract expected to add 100,000 new patients to platform by end of 2025

Negative

• None.

HAMILTON, Ontario, Sept. 27, 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 physician network with over 300 locations across the United States. The network includes over 750 physicians and is expected to add over 100,000 new patients to the platform by the end of 2025. Onboarding will begin next month.

“This is another substantial new contract for Reliq,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “This new client further expands our nationwide presence in the US with more than 750 physicians and over 300 locations across the US in their network. The contract is expected to add 100,000 eligible patients to our platform over the next two calendar years. The client was referred to us by one of our existing Skilled Nursing Facility network clients, further demonstrating that Reliq has established itself as the gold standard for virtual care for chronic disease patients. Healthcare customers are very conservative due to the highly regulated environment in which they operate and the critical impact their decisions have on the health and safety of their patients. The fact that Reliq acquires so many of our clients through referrals and word of mouth is a testament to our unique value proposition in this market. Our iUGO Care platform is user friendly for both patients and clinicians and has been proven effective in improving health outcomes and reducing healthcare spending. The iUGO Care system has been shown to reduce hospitalizations in onboarded patient populations by over 80%, which translates to dramatic improvements in patient quality of life and significant reductions in costs to the healthcare system. Due to our accelerating traction with large US healthcare clients, we are currently adding multiple Care Managers and Implementation Specialists to support the large deployments that we are initiating in multiple States across the US. This is a period of rapid growth for the Company that is expected to result in record revenue growth in 2024 and beyond. As with all of our large clients we will be using a phased rollout approach, with onboarding with this client to begin with thirteen of the network’s physicians in Florida next month. We expect to generate revenue of $65 per patient per month at ~70% gross margin 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 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

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.