InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, signs four Pain Management clinics, adding more than 2,000 new patients to its healthcare platform
July 28 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 contracts with
four Pain Management clinics in California. These four clinics are
expected to add more than 2,000 patients to the company’s platform
in the next nine months, with onboarding of these patients is
expected to begin in August. When the more than 2,000 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$130,000 per month.
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Dr. Lisa Crossley, CEO, stated: “There are over 5
million Medicare recipients who suffer from life-altering chronic
pain. Remote monitoring of symptoms and management of pain
medications and underlying chronic conditions can dramatically
improve quality of life for chronic pain patients. Proactive
management of chronic pain can also reduce the risk of addiction to
pain medication and the resulting costs to the healthcare system.
The new iUGO Care Pain Management module allows clinicians to
provide critical support and services to patients living with
chronic pain and further expands Reliq’s addressable patient
population to over 60 million eligible patients.”
According to a report published in April 2022, by
Research and Markets, the world’s largest research store, the
United States pain management therapeutics market size was valued
at US$6.75 billion in 2021 and will reach US$12.55 billion in 2028.
This is being driven by the increase in the geriatric population in
the United States along with rising healthcare awareness.
Furthermore, the rising preponderance of diseases such as cancer,
diabetic neuropathy, osteoarthritis, and chronic arthritis and an
increase in surgical procedures and healthcare spending are also
key factors driving the market for pain management therapeutics in
the United States.
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 $0.60. 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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video is for the viewers information only. Reliq Health
Technologies has paid a fee not exceeding $2,000 in cash to have
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