VANCOUVER, British Columbia, May 20, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, is going live with its first clinical trials this month and signs four new contracts in Texas and Florida.
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Dr. Lisa Crossley, CEO, stated: “We are very pleased to be going live in our first clinical trials this month. Our Clinical Research Organization (CRO) client will be using Reliq’s iUGO Care platform to monitor patients in two separate clinical trials focused on hypertension and oncology, respectively. Using iUGO Care for clinical trials allows CROs and trial sponsors to monitor trial-specific metrics such as medication adherence, side effects, safety issues and efficacy. These two trials are expected to add at least 1,000 patients to the iUGO Care platform this year and generate average revenue of US$40 per patient per month at a gross margin of 75%.”
The four new contracts, with two physician practices and two home health agencies, are expected to onboard, starting in June, more than 2,000 new patients in Texas and Florida to Reliq’s iUGO Care platform in 2022. When the more than 2,000 new patients are fully onboarded by the end of the calendar year and generating an average revenue of US$60 per patient per month, the company anticipates generating additional gross revenue of more than CDN$150,000 per month. Onboarding of previous new patients continues to accelerate this quarter.
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 technology platform is a comprehensive SaaS solution that allows 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 $0.58. 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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