VANCOUVER, British Columbia, May 01, 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 5 new contracts with physician practices and home health agencies in Arkansas, California, Nevada and Texas.
These new contracts are expected to add more than 3,000 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. All five clients will be using the iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules.
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Dr. Lisa Crossley, CEO, stated: “We are very pleased to be expanding into the state of Arkansas. According to the Partnership to Fight Chronic Disease, 5% of the population in Arkansas account for 50% of all healthcare spending in the state due to chronic diseases like high blood pressure, diabetes, congestive heart failure, kidney disease and COPD. Healthcare costs for chronic disease patients in Arkansas are expected to exceed $19 billion annually going forward unless the management of chronic disease in the state is improved. Reliq’s iUGO Care platform has been proven to reduce hospitalizations, improve health outcomes and generate significant cost savings to the healthcare system when used with chronic disease patients, which makes it a perfect fit for clinicians in Arkansas and other states with high rates of chronic disease.”
This initial entry into the Arkansas market could offer significant potential for Reliq as the State reported 1,900,000 people had at least one chronic disease with 787,000 suffering from 2 or more chronic diseases in 2015.
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 $0.58. 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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