HAMILTON, Ontario, June 09, 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 six new contracts with physician practices in California, Florida and Nevada. These new contracts are expected to add over 3,000 new patients to Reliq’s iUGO Care platform by the end of Q1 calendar year 2024, at an average revenue of $65 per patient per month.
“We are very pleased with our continued traction in California, Florida and Nevada,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “The southern US states are a particularly attractive market segment for Reliq due to demographics. With many older Americans choosing to move south in retirement, there is a very large population of Medicare-covered patients in these states who are eligible for Reliq’s services. The three states where we have the largest number of patients – California, Florida and Texas – make up over 25% of the total US population, with over 90 million residents. The new clients will be using the iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules to improve health outcomes and reduce the cost of care for their chronic disease patients. We expect to add over 3,000 patients to the iUGO Care platform by the end of March 2024 through these contracts, at an average of $65 per patient per month with an expected 75% gross margin. All six practices will go live next month.”
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.