Reliq Health Technologies, Inc. Announces Three New US Contracts and New Sales Partnership

Rhea-AI Summary

Reliq Health Technologies (OTC:RQHTF) announced a new sales partnership accessing over 500 physicians and 100,000 patients in the US Mountain and Pacific regions. The partnership is expected to add over 20,000 patients to Reliq's iUGO Care platform in the next year, generating around $1 million in revenue at a 75% gross margin. Additionally, new contracts with two physician practices and a Rural Health Clinic are projected to contribute 4,000 new patients in 2022. The company aims to exceed 100,000 patients by the end of 2022 as it anticipates rapid growth in the second half of the year.

Positive

• New sales partnership to access over 500 physicians and 100,000 patients.
• Expected addition of over 20,000 patients in the next year, generating ~$1 million revenue.
• New contracts with two physician practices and a Rural Health Clinic to add 4,000 patients in 2022.
• Anticipated rapid growth in the second half of 2022, with a target of 100,000 patients on the platform.

Negative

• None.

HAMILTON, Ontario, July 13, 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 a new sales partnership to access over 500 physicians and more than 100,000 eligible patients in the US Mountain and Pacific regions. The Company is also pleased to announce that it has signed new contracts with two physician practices and a Rural Health Clinic (RHC) to add over 4,000 new patients in 2022.

“We are pleased to be adding two new physician practices and a Rural Health Clinic as clients,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “These three clients are expected to add over 4,000 patients to our platform in 2022, at an average revenue of $50 per patient per month at 75% gross margin. We are also very excited to have signed an agreement with a new sales partner who will give us access to over 500 physicians and more than 100,000 patients with eligible chronic conditions. This partnership is expected to greatly expand Reliq’s client base in the US Mountain and Pacific states. The Company expects to add more than 20,000 patients to the platform over the next 12 months through this partnership, at an average revenue of $50 per patient per month (at 75% gross margin). We have already begun onboarding patients for the first client acquired through this partnership. As previously disclosed, the Company expects the second half of 2022 to be a period of rapidly accelerating growth. Reliq remains on track to have over 100,000 patients on our iUGO Care platform by December 31, 2022.”

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 is the recent announcement from Reliq Health Technologies (RQHTF)?

Reliq Health Technologies announced a new sales partnership and contracts that are expected to significantly increase their patient base and revenue.

How many patients is Reliq Health expected to add in 2022?

Reliq Health Technologies expects to add over 4,000 new patients through new contracts and over 20,000 patients through a new sales partnership in 2022.

What revenue is projected from the new patients added to Reliq Health's platform?

The new patients are expected to generate approximately $1 million in revenue at a 75% gross margin.

What is Reliq Health's target for patient numbers by the end of 2022?

Reliq Health aims to exceed 100,000 patients on its iUGO Care platform by December 31, 2022.

What regions will the new sales partnership access for Reliq Health?

The new sales partnership will access the US Mountain and Pacific regions.