Reliq Health Technologies, Inc. Announces Seven New Contracts and Go-Live with Large Healthcare System
Reliq Health Technologies Inc. (OTC:RQHTF) announced the signing of seven new contracts with physician practices and home health agencies in Nevada and Texas. The company has begun onboarding patients at 20 Skilled Nursing Facilities (SNFs) associated with a large healthcare system client. By the end of 2023, Reliq expects to add over 2,000 new patients per month to its iUGO Care platform, generating an average revenue of $65 per patient per month, with a projected gross margin of 75%. This expansion is indicative of Reliq's focus on the growing virtual care market, particularly in regions with significant populations of chronic disease patients.
- Signed seven new contracts with physician practices and home health agencies in Nevada and Texas.
- Onboarding initiated at 20 Skilled Nursing Facilities, projecting over 2,000 new patients per month by end of 2023.
- Expected average revenue of $65 per patient per month, indicating strong revenue growth potential.
- Projected gross margin of 75%, highlighting profitability.
- None.
HAMILTON, Ontario, April 14, 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 seven new contracts with physician practices and home health agencies in Nevada and Texas. The Company is also excited to announce that it has gone live with its previously disclosed large healthcare system client. Onboarding has begun at 20 of the client’s Skilled Nursing Facilities and is expected to add over 2,000 new patients per month to Reliq’s iUGO Care platform by the end of 2023, at an average revenue of
“We continue to add new clients to the platform, particularly in the southern US,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Due to large concentration of retirees in these states, there are millions of chronic disease patients in this region who can benefit from Reliq’s proactive, preventative approach to virtual care. We have also started onboarding patients with 20 Skilled Nursing Facilities (SNFs) that belong to a previously disclosed new client, a large healthcare system with over 1,200 care settings across seven states. The SNF patients will be using the iUGO Care Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. With these first 20 facilities we expect to add over 2,000 patients per month to the iUGO Care platform by the end of 2023, at an average revenue of
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 new contracts did Reliq Health Technologies sign in April 2023?
What is the expected revenue impact from the new patients added to the iUGO Care platform?
How many Skilled Nursing Facilities is Reliq onboarding in 2023?
What is the projected gross margin for Reliq's services?
What markets is Reliq Health Technologies focusing on for its expansion?
