InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, Signs 6 New Contracts with Physician Practices, Home Health Agencies and Skilled Nursing Facilities, adding more than 3,500 Patients to its Platform
June 29 2022 - 6:00AM
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 six new contracts
with physician practices, home health agencies and skilled nursing
facilities. The six new contracts, with healthcare providers in
California, Texas, Florida and Puerto Rico are expected to add more
than 3,500 patients to Reliq’s Care platform in 2022.
A Media Snippet accompanying this announcement is
available by clicking on the image or link below:
For more information, please view the
InvestmentPitch Media video which provides additional information
about this news and the company. The video is available for viewing
on “InvestmentPitch” or on
“YouTube”. If the link is not available, please
visit www.InvestmentPitch.com and enter “Reliq” in
the search box.
When the more than 3,500 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$225,000 per month.
Dr. Lisa Crossley, CEO, stated: “These clients
include three skilled nursing facilities. The Centers for Medicare
& Medicaid Services (CMS) introduced coverage for remote
patient monitoring of inpatients in long term care (LTC) and
skilled nursing facilities (SNF) in 2022. Remote monitoring of
these patients can reduce the cost of care and improve health
outcomes by identifying patients requiring a medical intervention
earlier, helping prevent complications that would require an ER
visit or ICU stay. In-facility remote monitoring provides a new
revenue stream for long term care and skilled nursing facilities
and improves facility workflow. Prioritizing patient interventions
improves clinical staff efficiency and helps address chronic
staffing shortages in the LTC and SNF industries.”
Reliq recently released its consolidated financial
statements for the quarter ended March 31, 2022. The first three
quarters of fiscal year 2022 were a period of rapid growth for the
company, with revenues for the nine months ending March 31
increasing by more than 490% to $6,263,304 as compared to
$1,060,701 for the nine months ended March 31, 2021. Gross Margins
improved to 70% for the nine-month period as compared to 47% for
the comparable period in FY2021.
Management expects revenue growth to accelerate in
the second half of this calendar year as previously disclosed
larger clients come online and the impact of COVID-19 on operations
is reduced.
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 $0.495. 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.
Disclaimer
The information in this InvestmentPitch Media Ltd
video is for the viewers information only. Reliq Health
Technologies has paid a fee not exceeding $2,000 in cash to have
its current news release produced in video format. The corporate
information is based on information that is publicly available. Any
information provided by InvestmentPitch Media Ltd., through its
media services is not to be construed as a recommendation or
suggestion or offer to buy or sell securities but is provided
solely as an informational media service. InvestmentPitch Media Ltd
makes no warranties or undertakings as to the accuracy or
completeness of this information. All due diligence should be done
by the viewer or their financial advisor. Investing in securities
is speculative and carries risk.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of
video, which together with its extensive distribution, positions a
company’s story ahead of the 1,000's of companies seeking awareness
and funding from the financial community. The company specializes
in producing short videos based on significant news releases,
research reports and other content of interest to investors.
CONTACT: InvestmentPitch Media Barry Morgan, CEO
bmorgan@investmentpitch.com
Reliq Health Technologies (TSXV:RHT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Reliq Health Technologies (TSXV:RHT)
Historical Stock Chart
From Oct 2023 to Oct 2024