VANCOUVER, British Columbia, Feb. 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 new contracts with three orthopaedic practices in Texas and California.
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Dr. Lisa Crossley, CEO, stated: “The demand for Remote Therapeutic Monitoring for orthopaedic patients continues to grow beyond our expectations. With Medicare’s recent expansion of their virtual care programs to include Remote Therapeutic Monitoring for patients with musculoskeletal conditions, clinicians are now able to use our iUGO Care platform to track vital signs, movement and medication adherence, update care plans, deliver content including videos of prescribed exercises, coordinate care with allied health providers such as physiotherapists and occupational therapists and conduct virtual visits with their patients who have musculoskeletal issues. We are very pleased to be adding three new orthopaedic practices to our platform.”
These new clients will be using Reliq’s iUGO Care Remote Therapeutic Monitoring (RTM) and Principal Care Management (PCM) software to provide proactive virtual care for their osteoarthritis patients.
These contracts are expected to add more than 2,000 new patients to the company’s platform this year, with client onboarding expected to begin this month. When the 2,000 clients are fully onboarded and generating revenues of more than US$50 per patient per month, the company anticipates generating revenue of CDN$130,000 per month.
According to Statista, a leading provider of market and consumer data, home healthcare spending in the US alone by Medicare and Medicaid exceeded US$80 billion in 2019 and has been growing at approximately 10% annually.
Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multibillion-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 $1.20. 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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