Reliq Health Technologies, Inc. Announces Five New Contracts to Onboard over 10,000 Patients
August 19 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 five new contracts with two home health
agencies, two physician practices and a multi-state wound care
practice that provide care to patients in Kentucky, California,
Florida, Nevada and Texas. The contracts are expected to add at
least 10,000 new patients to Reliq’s iUGO Care platform over the
next three quarters.
“We are excited to be expanding in Kentucky,
where the state Medicaid program has significantly increased its
coverage for remote patient monitoring,” said Dr. Lisa Crossley,
CEO at Reliq Health Technologies, Inc. “There are over 1.2 Million
adults covered by Medicaid in the state of Kentucky (Medicaid.gov).
According to the Chronic Care Policy Alliance, approximately 22% of
the population in Kentucky or roughly 1 Million residents are in
Poor to Fair health. The expanded scope of Kentucky’s Medicaid
program will allow patients with heart disease, Congestive Heart
Failure (CHF), Chronic Obstructive Pulmonary Disease (COPD),
diabetes, hypertension, cancer, stroke, mental health issues or who
are pregnant to be monitored remotely by their healthcare
providers. Over 50% of Kentucky residents live in rural
communities. Using Reliq’s iUGO Care solution improves access to
care for these patients, improving health outcomes and quality of
life.”
“We are also very pleased to be adding four new
clients with patients in California, Florida, Nevada and Texas,
including a multi-state wound care practice. According to the Wound
Care Education Institute (wcei.net), over 15% of Medicare patients
are being treated for chronic wounds. Remote monitoring of these
patients with iUGO Care allows care providers to track wound
healing progress and intervene early as needed to prevent
complications that can lead to amputations, sepsis and even death.
Altogether these five contracts are expected to add over 10,000
patients to our platform in the next nine months at an average
revenue of $65 per patient per month (at 75% gross margin).
Onboarding of these patients is expected to begin next month. The
Company remains on track to onboard over 100,000 patients by the
end of calendar year 2022 and over 200,000 patients by the middle
of calendar year 2023.”
Reliq HealthReliq 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
Frankfurt Stock Exchange under the WKN: 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 InformationCertain 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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