Reliq Health Technologies, Inc. Announces Six New Contracts in Texas, Nevada and Maryland; Collection of Aged Receivables
April 07 2022 - 3:01AM
Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or
WKN:A2AJTB) (“
Reliq” or the
“
Company”), a rapidly growing global healthcare
technology company that develops innovative Virtual Care solutions
for the multi-billion dollar Healthcare market, today announced
that it has signed new contracts with two physician practices, a
home health agency and three adult medical day care facilities in
Texas, Nevada and Maryland.
“We are excited to be adding new adult medical
day cares, physician practices and a home health agency to our
platform,” said Dr. Lisa Crossley, CEO at Reliq Health
Technologies, Inc. “Adult medical day cares provide medically
supervised care to seniors with chronic conditions and other
eligible individuals during daytime hours in an outpatient facility
environment. These facilities will use the iUGO Care platform to
monitor biometric data for these individuals while they are in the
facility and automatically deliver alerts to their physicians for
any abnormal readings. The adult medical day cares will also be
using iUGO Care’s Telemedicine module to allow adults in their care
to have virtual visits with a primary care physician or specialist
without having to be transported from the facility. We expect to
begin onboarding with these clients next month. The contracts are
expected to add over 2,000 new patients to the platform this year
and generate an average revenue of $50 per patient per month.”
The Company is also pleased to announce that, as
projected, its aged accounts receivable (aged 12 months or over as
of March 31, 2022) resulting from the flexible payment terms the
Company extended to its clients during the pandemic have been
collected. Software and professional services fees are currently
collected in accordance with the Company’s standard payment terms
and are expected to remain current going forward. Accounts
receivable for hardware (medical monitoring devices) that was sold
to clients on a payment plan are being collected on a monthly basis
as scheduled and are expected to remain current going forward as
well. The Company only sells hardware to clients who have also
signed software and services contracts; there is, therefore,
corresponding recurring revenue from software and services
associated with every hardware sale.
Reliq Health
Reliq Health Technologies is a rapidly growing
global healthcare technology company that specializes in developing
innovative Virtual Care solutions for the multi-billion dollar
Healthcare market. Reliq’s powerful iUGO Care platform supports
care coordination and community-based virtual healthcare. iUGO Care
allows complex patients to receive high quality care at home,
improving health outcomes, enhancing 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 ER visits. Reliq Health
Technologies trades on the TSX Venture under the symbol RHT, on the
OTC as RQHTF and on the WKN as A2AJTB.
ON BEHALF OF THE BOARD“Dr. Lisa Crossley”CEO and Director
For further information please contact:
Company ContactInvestor Relations at
ir@reliqhealth.com
US Investor Relations ContactInvestor
RelationsLytham Partners, LLCBen ShamsianNew York |
Phoenix646-829-9701shamsian@lythampartners.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward
Looking Information
Certain statements in this press release
constitute forward-looking statements, within the meaning of
applicable securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking
statements" involve known and unknown risks and uncertainties that
could cause actual and future events to differ materially from
those anticipated in such statements.
Forward-looking statements include, but are not
limited to, statements with respect to commercial operations,
including technology development, anticipated revenues, projected
size of market, and other information that is based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management.
Reliq Health Technologies Inc. (the
"Company") does not intend and does not assume any
obligation, to update these forward-looking statements except as
required by law. These forward-looking statements involve risks and
uncertainties relating to, among other things, technology
development and marketing activities, the Company's historical
experience with technology development, uninsured risks. Actual
results may differ materially from those expressed or implied by
such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
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