InvestmentPitch Media Video Discusses Reliq Health’s Signing of Seven New Contracts with Physician Practices and Home Health Agencies in Nevada and Texas and On-Boarding of Patients from First 20 of 1,200 Large Healthcare System

Rhea-AI Summary

Reliq Health Technologies has announced the signing of seven new contracts with physician practices and home health agencies in Nevada and Texas, expanding their presence in the healthcare market. The company's integration of their iUGO Care platform into 20 Skilled Nursing Facilities (SNFs) is expected to onboard over 2,000 patients per month by the end of 2023, generating approximately $60 in revenue per patient for the first month and $65 for subsequent months, with an anticipated 75% gross margin. These facilities represent less than 2% of their new client's total of 1,200 care centers, suggesting significant revenue potential for Reliq. The shares are currently trading at $0.53.

Positive

• Signed seven new contracts with physician practices and home health agencies.
• Onboarding of 20 Skilled Nursing Facilities, increasing patient intake significantly.
• Expected revenue generation of $60 per patient for the first month and $65 thereafter, with a 75% gross margin.
• Only 2% of the total 1,200 facilities contracted have been activated, indicating potential for substantial growth.

Negative

• None.

News Market Reaction – RQHTF

-3.49%

1 alert

-3.49% News Effect

On the day this news was published, RQHTF declined 3.49%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, British Columbia, April 17, 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 seven new contracts with Physician Practices and Home Health Agencies in Nevada and Texas.

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 highlights from Dr. Crossley at Reliq’s latest investor webinar where she provides an update on operations and the outlook for the balance of 2023. 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 continue to add new clients to the platform, particularly in the southern US. 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 the company expects to add more than 2,000 patients per month to the iUGO Care platform by the end of 2023, at an average revenue of $60 per patient for the first 30 days post-discharge and $65 per patient per month for every subsequent month at an expected 75% gross margin. When you consider these 20 facilities represent less than 2% of the 1,200 care centres included in this contract, imagine the full revenue potential from the other 1,180 facilities.

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 $0.53. 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.

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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.

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