InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Telemedicine Company, Signs Five New Contracts, Adding more than 10,000 New Patients to its iUGO Care Platform
August 22 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 five new
contracts. These 5 contracts, covering two home health agencies,
two physician practices and a multi-state wound care practice,
provide care to patients in Kentucky, California, Florida, Nevada
and Texas and are expected to add at least 10,000 new patients to
the company’s iUGO Care platform.
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When the more than 10,000 new patients are fully
onboarded over the next nine months and generating an average
revenue of US$65 per patient per month at a 75% gross margin, the
company anticipates generating additional gross revenue of more
than CDN$850,000 per month.
Dr. Lisa Crossley, CEO, stated: “We are excited to
be expanding in Kentucky, where the state Medicaid program has
significantly increased its coverage for remote patient monitoring.
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.”
The Wound Care Education Institute (www.wcei.net),
stated that more than 15% of Medicare patients are being treated
for chronic wounds. Given the rising geriatric population who are
more prone to develop chronic wounds due to rising chronic diseases
such as diabetes, hypertension, and others, this market is forecast
to contribute to the grow.
According to American Diabetes Association, in
2018, an estimated 34.2 million people, or 10.5% of the total U.S.
population, had diabetes. Furthermore, the increasing number of
people with diabetes that are likely to develop diabetic foot
ulcers in their life are expected to increase the demand for
effective wound treatment.
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.
According to management, the company remains on
track to onboard more than 100,000 patients by the end of calendar
year 2022 and more than 200,000 patients by the middle of calendar
year 2023.
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 $0.54. 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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information is based on information that is publicly available. Any
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