Reliq Health Technologies, Inc. Announces New Contracts with Four US Pain Management Clinics

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) has announced contracts with four Pain Management clinics in California, aiming to onboard over 2,000 new patients onto its iUGO Care platform. This expansion targets the large Medicare demographic suffering from chronic pain, with projected revenues of $50 per patient monthly at a 75% gross margin. The initiative is expected to enhance care coordination and reduce healthcare costs by allowing remote patient monitoring, ultimately broadening Reliq's potential patient base to over 60 million.

Positive

• New contracts with four Pain Management clinics in California to onboard 2,000 patients.
• Projected revenue of $50 per patient per month at a 75% gross margin.
• Expansion increases addressable patient population to over 60 million.

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• None.

HAMILTON, Ontario, July 27, 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 new contracts with four Pain Management clinics in California to add at least 2,000 new patients to its platform.

“We are very excited to be welcoming four Pain Management clinics in California as new clients,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “There are over 5 Million Medicare recipients who suffer from life-altering chronic pain. Remote monitoring of symptoms and management of pain medications and underlying chronic conditions can dramatically improve quality of life for chronic pain patients. Proactive management of chronic pain can also reduce the risk of addiction to pain medication and the resulting costs to the healthcare system. The new iUGO Care Pain Management module allows clinicians to provide critical support and services to patients living with chronic pain and further expands Reliq’s addressable patient population to over 60 Million eligible patients. These four clinics are expected to add over 2,000 patients to our platform in the next nine months at an average revenue of $50 per patient per month at 75% gross margin. Onboarding of these patients is expected to begin next month.”

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.

FAQ

What recent contracts did Reliq Health Technologies sign?

Reliq Health Technologies signed contracts with four Pain Management clinics in California.

How many patients will Reliq Health onboard through the new contracts?

Reliq Health Technologies expects to onboard over 2,000 patients.

What is the expected revenue per patient for Reliq Health?

Reliq Health anticipates an average revenue of $50 per patient per month.

What is the significance of the new iUGO Care Pain Management module?

The module allows clinicians to support chronic pain patients and enhances Reliq's market reach.

What is the stock symbol for Reliq Health Technologies?

Reliq Health Technologies trades on OTC under the symbol RQHTF.