Reliq Health Technologies, Inc. Announces New US Contracts, Resumes Onboarding with a Network of 10 Clinics in Dallas, TX

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) has announced the signing of contracts with four new US clients, including physician practices and a long-term care facility. The addition of these clients will introduce over 3,000 patients to Reliq's platform, projected to generate an average revenue of over $50 per patient monthly. Onboarding is set for early 2022, contributing to a revenue run rate expectation of $2 million per month by year-end 2021. This expansion demonstrates Reliq's growth in the healthcare technology sector.

Positive

• Contracts signed with four new clients, enhancing market presence.
• Projected addition of over 3,000 new patients to the platform.
• Expected average revenue of over $50 per patient per month.

Negative

• None.

HAMILTON, Ontario, Dec. 17, 2021 (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 contracts with four new US clients, including three physician practices in Texas and Puerto Rico and a long term care facility in California.

“We continue to onboard new clients and patients even as we approach the holidays,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “We are pleased to be adding three new primary care practices in Texas and Puerto Rico, and a long term care facility in California. In addition, we have resumed onboarding with a previously announced 10 clinic network in Dallas, TX who had paused onboarding early on in the pandemic. These healthcare organizations will be using the iUGO Care remote patient monitoring, chronic care management and behavioural health integration modules, and the long term care facility will also us the iUGO Home emergency alert, fall detection and medication reminder solution. The four new clients will add over 3,000 new patients to our platform in the next six months at an average revenue of over $50 USD per patient per month. Onboarding will begin in the new year. As previously disclosed, the Company expects to exit calendar year 2021 at a revenue run rate of $2 Million/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 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 has Reliq Health Technologies signed?

Reliq Health Technologies has signed contracts with four new clients, including three physician practices and a long-term care facility.

How many new patients will Reliq Health Technologies onboard from the new contracts?

The new contracts will add over 3,000 new patients to Reliq's platform.

What is the expected revenue run rate for Reliq Health Technologies by the end of 2021?

Reliq Health Technologies expects to achieve a revenue run rate of $2 million per month by the end of 2021.

What is the average revenue per patient for Reliq's services?

The average revenue expected per patient is over $50 per month.

When will the onboarding of new clients begin for Reliq Health Technologies?

Onboarding for the new clients will start in early 2022.