HAMILTON, Ontario, March 08, 2023 (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, is pleased to announce that it has signed 40 new Skilled Nursing Facility (SNF) clients in California, Florida and Pennsylvania. These clients are expected to add over 4,000 new patients per month to Reliq’s iUGO Care platform by the end of 2023, or over 48,000 patients per year at an average revenue of $65 per patient per month.
“We continue to see tremendous growth in Reliq’s business in the Skilled Nursing Facility (SNF) space,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “SNFs are very attractive clients for the Company because the facilities’ staff along with Reliq’s implementation team are able to train patients on the system prior to discharge from the SNF. This helps ensure that patients are comfortable and confident in their use of the iUGO Care platform before they even leave the facility. As a result, we have already documented >70% adherence in these patients post-discharge, with adherence expected to reach an average of >80% over time as patients gain further experience with the platform. By the end of this calendar year, we expect to be adding 4,000 patients per month to the iUGO Care platform through these facilities, at an average revenue of $65 per patient per month at 75% gross margin.”
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
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SOURCE: Reliq Health Technologies Inc.