InvestmentPitch Media Video Discusses Reliq Health and its Signing of 10 Contracts Potentially Adding 5,000 new Patients to its iUGO Platform by Year End

Rhea-AI Summary

Reliq Health Technologies has signed 10 new contracts across the U.S., adding over 5,000 patients to its iUGO Care platform by year-end 2023. The contracts include eight physician practices in Nevada and Northern California, and two home health agencies in Texas. The expected revenue is approximately US$65 per patient monthly, with a gross margin of 75%. This expansion aims to enhance virtual care access, especially for rural Medicare populations in Northern California. Reliq's shares currently trade at $0.50.

Positive

• Signed 10 new contracts expected to add over 5,000 patients.
• Projected revenue of US$65 per patient monthly with a 75% gross margin.
• Expansion into new geographical areas increases market presence.

Negative

• None.

News Market Reaction – RQHTF

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In the trading session that priced this news, RQHTF declined 0.14%, reflecting a mild negative market reaction.

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VANCOUVER, British Columbia, March 31, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global healthcare technology company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed 10 new contracts in the United States. These new contracts, with eight physician practices in Nevada and Northern California, and two home health agencies in Texas, are expected to add more than 5,000 new patients to Reliq’s iUGO Care platform by the end of 2023 and generate an average revenue of US$65 monthly per patient at an expected 75% gross margin.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional news about the company along with video comments from Dr. Crossley. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Reliq” in the search box.

Dr. Lisa Crossley, CEO, stated: “We are pleased to be adding these ten new clients to our platform, and to be expanding beyond our current presence in Southern California to Northern California. Patients in Northern California outside of the large urban centers face significant challenges in accessing care. There is a large rural Medicare population in Northern California and we are excited to be working with their care providers to help provide access to high quality virtual care. In Nevada and California, the physician practices will be providing Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) to their patients. In Texas, the home health agencies will be providing RPM to their patients.”

According to Statista Research, Medicare outlays in the United States amounted to US$868 billion in 2021 and are predicted to more than double to US$1.9 trillion in 2032. Spending on services such as physician services, outpatient services, and physician-administered drugs, accounts for the largest share of Medicare benefit spending. Projected spending growth for Medicare is due in part to growing enrollment in Medicare related to the aging of the population, increased use of services and intensity of care, and rising health care costs.

Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multi-billion dollar healthcare market. The company’s powerful iUGO CARE platform for care coordination and home healthcare integrates wearables, sensors, voice technology with intuitive mobile apps and desktop software for patients, families, clinicians, and healthcare administrators, allowing complex patients to receive high-quality care at home, improving health outcomes, enhancing the 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 emergency room visits.

The shares are trading at $0.50. For more information, please visit the company’s website, www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations in the United States is handled by Ben Shamsian of Lytham Partners, who can be reached at 649-829-9701 or by email at shamsian@LythamPartners.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, including a news release service, to position your company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Reliq Health Technologies has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

CONTACT:
InvestmentPitch Media
Barry Morgan, CEO
bmorgan@investmentpitch.com

FAQ

What recent developments has Reliq Health Technologies announced?

Reliq Health Technologies has signed 10 new contracts in the U.S., expected to add over 5,000 new patients to its iUGO Care platform by the end of 2023.

What is the expected monthly revenue per patient for Reliq Health?

The expected monthly revenue for Reliq Health is approximately US$65 per patient.

How does the new contract affect Reliq Health's market presence?

The new contracts expand Reliq Health's market presence into Northern California, Nevada, and Texas, targeting a rural Medicare population.

What is the current trading price of Reliq Health's shares?

Reliq Health Technologies shares are currently trading at $0.50.