Reliq Health Technologies, Inc. Announces New Contract with Network of 40 Skilled Nursing Facilities across Florida
October 26 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 a new contract with a network of 40 Skilled
Nursing Facilities (SNFs) in Florida. The Company expects to begin
onboarding with these clients next month and have all 40 SNFs live
by the end of March, 2023. This contract is expected to add 4,000
patients per month to Reliq’s iUGO Care platform as of April, 2023
and the Company expects to have over 50,000 new SNF patients
onboarded by the end of 2023.
“Skilled Nursing Facilities (SNFs) play a
critical role in the healthcare system, helping patients transition
from acute care back into the community in a lower-cost setting
than the hospital,” said Dr. Lisa Crossley, CEO at Reliq Health
Technologies, Inc. “As the population ages and grows the number of
Medicare patients with chronic conditions is steadily increasing,
placing pressure on SNFs to reduce the length of stay for
individual patients in their facilities. As a result, demand from
the SNF market for post-discharge care has grown dramatically. SNFs
face significant financial penalties if patients are readmitted to
their facilities or to hospital post-discharge. Reliq’s iUGO Care
Transitional Care Management (TCM), Remote Patient Monitoring
(RPM), Chronic Care Management (CCM) and Behavioural Health
Integration (BHI) solutions can help improve post-discharge health
outcomes and reduce readmissions, while also generating new revenue
streams for Skilled Nursing Facilities. Reliq will provide TCM to
newly discharged patients at a rate of $60 per patient, with
recurring revenue from RPM, CCM and BHI of $65/patient per month,
at 75% gross margin. We will begin onboarding patients at the
first few facilities next month and expect to go live with all 40
SNFs by the end of March, 2023. Once all 40 facilities are live we
expect to onboard over 4,000 newly discharged patients every month
going forward.”
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
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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
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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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