VANCOUVER, British Columbia, July 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, has signed contracts with four physician practices in California and Texas to add more than 5,000 new patients to its platform.
When the more than 5,000 new patients are fully onboarded and generating an average revenue of US$50 per patient per month at a 75% gross margin, the company anticipates generating additional gross revenue of more than CDN$300,000 per month. Onboarding with these clients is expected to begin in August.
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The company has also gone live with the first client through its partnership agreement with Data Soft Logic. Onboarding with Data Soft Logic is expected to ramp up over the remainder of 2022, adding over 50,000 patients per year to Reliq’s iUGO Care platform in 2023 and beyond.
California-based Data Soft Logic Corporation (www.DataSoftLogic.com) is a cloud-based home health care and Hospice solution offering a suite of applications including Point of Care, Symptom Management, Billing, Scheduling, Accounting and Human Resources. Data Soft Logic has been partnering with home health, hospice, and therapy agencies for more than 10 years, with its software platform currently used by more than 600 home health and hospice care agencies across the United States.
Dr. Lisa Crossley, CEO, stated: “We are pleased to be adding four new physician practices in California and Texas. We are also very excited to have gone live with our first client through our partnership with Data Soft Logic. Onboarding has already begun with the client. Data Soft Logic’s home health and hospice clients work with over 1,000 primary care physicians who provide care to over 500,000 Medicare and Medicaid patients. As previously disclosed, the Company expects to add over 50,000 patients per year to the platform beginning in 2023 through the partnership with Data Soft Logic, at an average revenue of $60 per patient per month (at 75% gross margin). Reliq remains on track to have over 100,000 patients on our iUGO Care platform by December 31, 2022.”
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.
The 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 $0.445. 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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