Reliq Health Technologies, Inc. Announces Six New US Contracts and New In-Facility RPM Programs
Reliq Health Technologies Inc. (OTC:RQHTF) has signed six new contracts with healthcare providers across California, Texas, Florida, and Puerto Rico, aiming to onboard over 3,500 patients this year. These contracts, primarily with skilled nursing facilities, leverage new CMS coverage for remote patient monitoring, expected to generate an average revenue of $50 per patient monthly at a 75% gross margin. The company's iUGO Care platform enhances care coordination, improves patient outcomes, and helps manage staffing shortages in the healthcare industry.
- Six new contracts signed, adding over 3,500 patients.
- Average revenue expected at $50 per patient monthly.
- 75% gross margin anticipated on new contracts.
- New revenue stream from remote patient monitoring for skilled nursing facilities.
- None.
HAMILTON, Ontario, June 28, 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 six new contracts with physician practices, home health agencies and skilled nursing facilities in California, Texas, Florida and Puerto Rico that are expected to add over 3,500 patients to Reliq’s platform this year.
“We are excited to announce that we have signed six new contracts with healthcare providers in California, Texas, Florida and Puerto Rico.,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “These clients include three skilled nursing facilities. The Centers for Medicare & Medicaid Services (CMS) introduced coverage for remote patient monitoring of inpatients in long term care (LTC) and skilled nursing facilities (SNF) in 2022. Remote monitoring of these patients can reduce the cost of care and improve health outcomes by identifying patients requiring a medical intervention earlier, helping prevent complications that would require an ER visit or ICU stay. In-facility remote monitoring provides a new revenue stream for long term care and skilled nursing facilities and improves facility workflow. Prioritizing patient interventions improves clinical staff efficiency and helps address chronic staffing shortages in the LTC and SNF industries. Onboarding of these patients will begin in July. These clients are expected to add over 3,500 patients to our platform in 2022, 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.
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