Reliq Health Technologies, Inc. Announces Two New Orthopedic Practice Contracts in the US

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) announced two contracts with Texas-based orthopedic practices, leveraging the iUGO Care platform. This initiative aims to manage chronic orthopedic and post-operative patients remotely, providing an average revenue of $50 USD per patient per month. The CEO noted the acceleration of business post-vaccine rollout, with expectations of achieving profitability by the current quarter. The iUGO Care platform enhances patient care, particularly for chronic conditions, while reducing healthcare costs and improving health outcomes.

Positive

• Signed two contracts with orthopedic practices, expanding market segment.
• Expected average revenue of $50 USD per patient per month.
• On track to achieve profitability by the end of the current quarter.
• Increasing revenue growth month over month due to vaccine rollout.

Negative

• None.

HAMILTON, Ontario, April 13, 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 two new contracts with Orthopedic Practices in Texas, leveraging its iUGO Care platform to enable Orthopedic Specialists to manage their chronic orthopedic and post-operative patients at home.

“It is very gratifying to see our business in Texas accelerating so quickly as a result of the successful vaccine rollout in that State,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “The orthopedic specialty represents a new market segment for Reliq and we are already gaining significant traction in this space. Reliq will receive an average revenue of $50 USD per patient per month under these two new contracts. The Company remains on track to achieve profitability by the end of the current quarter, and continues to see increasing revenue growth month over month as our clients return to normal operations thanks to widespread vaccination of frontline healthcare workers and at risk patient populations in the US. We are steadily building momentum in terms of both new client acquisition and patient onboarding, and demand for our Care Management Services in particular has exceeded our expectations.”

iUGO Care’s Orthopedic module can be used by Orthopedic Specialists to provide Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Principal Care Management (PCM) and Behavioural Health Integration (BHI) services to chronic orthopedic patients at home. Using iUGO Care helps orthopedic patients improve health outcomes and reduce symptoms through increased medication adherence and compliance with prescribed physiotherapy exercises. iUGO Care also enables orthopedic patients to receive support for the depression and anxiety frequently experienced by individuals living with chronic pain and mobility issues.

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.

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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".

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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.