VANCOUVER, British Columbia, Aug. 10, 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 eight new contracts in five states. These contracts with six clinics and two physician practices provide care to patients in Idaho, New Mexico, California, Nevada and Texas.
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These eight contracts are expected to add more than 5,000 patients to the company’s iUGO care platform over the next nine months, with onboarding of these patients expected to begin next month. When the more than 5,000 new patients are fully onboarded in the next nine months 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$325,000 per month.
Reliq Health remains on track to onboard more than 100,000 patients by the end of calendar year 2022 and more than 200,000 patients by the middle of calendar year 2023.
Dr. Lisa Crossley, CEO, stated: “We are very pleased to be expanding into Idaho and New Mexico as well as growing our business in states where we already have a significant presence. According to the Chronic Care Policy Alliance, approximately 15% of the population in New Mexico and 13% of the population in Idaho are in Poor to Fair health. Over 46% of the population in New Mexico and Idaho have at least one chronic condition. Access to care is particularly challenging for chronic disease patients living in rural communities in these and other states. Reliq’s iUGO Care platform allows patients to receive high quality virtual healthcare in the comfort of their homes, reducing the disparity in access to care between rural and urban populations, improving health outcomes and reducing healthcare costs.”
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 community-based virtual 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 $0.57. 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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