Reliq Health Technologies, Inc. Announces New Contracts in Texas and California

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) has announced the signing of three contracts with orthopaedic practices in Texas and California, aiming to onboard over 2,000 new patients this year. The company will utilize its iUGO Care platform for Remote Therapeutic Monitoring. With projected revenues exceeding $50 per patient monthly, Reliq is poised to benefit from Medicare's expanded virtual care programs. The new contracts underscore the growing demand for remote monitoring in musculoskeletal care.

Positive

• Signed three contracts with orthopaedic practices, increasing clientele by over 2,000 patients.
• Expected revenues of over $50 per patient per month from new contracts.
• Capitalizing on Medicare's expansion of virtual care programs.

Negative

• None.

HAMILTON, Ontario, Feb. 09, 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 three new contracts with orthopaedic practices in Texas and California.

“The demand for Remote Therapeutic Monitoring for orthopaedic patients continues to grow beyond our expectations,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “With Medicare’s recent expansion of their virtual care programs to include Remote Therapeutic Monitoring for patients with musculoskeletal conditions, clinicians are now able to use our iUGO Care platform to track vital signs, movement and medication adherence, update care plans, deliver content including videos of prescribed exercises, coordinate care with allied health providers such as physiotherapists and occupational therapists and conduct virtual visits with their patients who have musculoskeletal issues. We are very pleased to be adding three new orthopaedic practices to our platform. These practices are expected to add over 2,000 new patients to Reliq’s iUGO Care platform this year. These new clients will be using Reliq’s iUGO Care Remote Therapeutic Monitoring (RTM) and Principal Care Management (PCM) software to provide proactive virtual care for their osteoarthritis patients. We expect to begin onboarding new patients this month and to generate revenues of over $50 per patient per month through these contracts.”

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.

FAQ

What recent contracts did Reliq Health Technologies sign?

Reliq Health Technologies signed three new contracts with orthopaedic practices in Texas and California.

How many new patients are expected from Reliq's recent contracts?

Reliq expects to onboard over 2,000 new patients through the new contracts this year.

What is the expected revenue per patient for Reliq's new contracts?

Reliq expects to generate revenues of over $50 per patient per month from the new contracts.

Which healthcare segment is Reliq Health Technologies focusing on?

Reliq is focusing on Remote Therapeutic Monitoring for musculoskeletal conditions.

What platform is used for the new orthopaedic contracts by Reliq?

The iUGO Care platform will be used for Remote Therapeutic Monitoring under the new orthopaedic contracts.