Reliq Health Technologies, Inc. Announces New Contracts with Six US Physician Practices

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) announced contracts with six new US primary care physician practices, set to onboard over 4,000 chronic disease patients to its iUGO Care platform. The average revenue from these contracts exceeds $40 USD per patient monthly. Onboarding is expected to complete by October. The company anticipates its first full profitable quarter this quarter, marking a significant milestone. Reliq's innovative telemedicine solutions aim to improve patient care while reducing healthcare costs.

Positive

• Contracts with six new physician practices signed, expanding market reach.
• Onboarding over 4,000 patients to the iUGO Care platform.
• Average revenue expected to exceed $40 USD per patient per month.
• Anticipation of first full profitable quarter this quarter.

Negative

• None.

HAMILTON, Ontario, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global telemedicine company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced that it has signed contracts with six new US primary care physician practices to provide its iUGO Care platform to their chronic disease patients.

“We are pleased to announce that we are adding six new US physician practices and over 4,000 new patients to our iUGO Care platform,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “These primary care physician practices will be using our iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. The average revenue from these contracts will be >$40 USD per patient per month. Onboarding with all six clients will begin this month and is expected to be completed in October. New client acquisition and patient onboarding has been accelerating significantly through July and we expect to continue to experience rapid growth in the business through the remainder of the year, and for the foreseeable future beyond 2021. The current quarter will be Reliq’s first full profitable quarter, which is a major milestone for the company.”

Reliq Health

Reliq Health Technologies is a rapidly growing global telemedicine 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.

SOURCE: Reliq Health Technologies Inc.

FAQ

What recent contracts did Reliq Health Technologies sign?

Reliq Health Technologies signed contracts with six new US primary care physician practices for its iUGO Care platform.

How many new patients will Reliq Health onboard?

Reliq Health will onboard over 4,000 new patients to its iUGO Care platform.

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

The average revenue from the new contracts is expected to exceed $40 USD per patient per month.

When is Reliq Health expecting to complete patient onboarding?

Patient onboarding with the new clients is expected to be completed by October.

What milestone is Reliq Health anticipating this quarter?

Reliq Health anticipates its first full profitable quarter this quarter.