VANCOUVER, British Columbia, June 12, 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 6 new contracts with physician practices in California, Florida and Nevada. These new contracts are expected to add more than 3,000 new patients to Reliq’s iUGO Care platform.
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All 6 practices will go live next month, with all 3,000 plus patients onboarded by the end of March 2024, and generating an average revenue of US$65 monthly per patient at an expected 75% gross margin.
In each of these three states, as the population ages, the number of patients with three or more chronic diseases are expected to grow by 158% to 194% between 2015 and 2030.
Dr. Lisa Crossley, CEO, stated: “We are very pleased with our continued traction in California, Florida and Nevada. 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.”
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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