InvestmentPitch Media Video Discusses Reliq Health, a Rapidly Growing Global Healthcare Technology Company, and its Contract to add 15 Skilled Nursing Facilities to its iUGO Care Platform
November 18 2022 - 6:00AM
Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF)
(FSE:MHN2), a rapidly growing global healthcare technology company
developing innovative Virtual Care solutions for the
multibillion-dollar Healthcare market, signs contracts adding
a network of 15 Skilled Nursing Facilities to its iUGO Care
Platform.
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, along with comments from Bruce
Campbell, President and Portfolio Manager of Stonecastle Investment
Management. 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.
Dr. Lisa Crossley, CEO, stated: “We are very
pleased to be expanding into the Skilled Nursing Facility market in
California. Reliq will be providing our iUGO Care Transitional Care
Management (TCM), Remote Patient Monitoring (RPM), Chronic Care
Management (CCM) and Behavioural Health Integration (BHI) solutions
to help improve post-discharge health outcomes and reduce
readmissions, while also generating new revenue streams for the
facilities. The Skilled Nursing space is currently one of our
fastest growing market segments and we are excited to help SNFs
provide new healthcare services to their patients to drive better
outcomes.”
The company will begin onboarding patients with
these facilities in early 2023, and once all 15 facilities are live
the company expects to onboard more than 1,000 of their newly
discharged patients every month, or 12,000 new patients per year,
to Reliq’s iUGO Care platform. Reliq will provide Transitional Care
Management to the newly discharged patients at a rate of $60 per
patient, with recurring revenue from Remote Patient Monitoring,
Chronic Care Management, and Behavioural Health Integration of $65
per patient per month, at a 75% gross margin.
Skilled Nursing Facilities represent a large, and
until recently, previously untapped market for Reliq’s
products.
With a Skilled Nursing Facility, trained
registered nurses provide the same level of nursing care you
receive in a hospital, in a medical setting, under a doctor’s
supervision. After an illness, injury or surgery, patients may go
from a hospital to a Skilled Nursing Facility to continue
recovering, where in addition to skilled nursing, the care may
include rehabilitative services from licensed physical,
occupational or speech therapists. A Skilled Nursing Facility
provides transitional care, which is covered under Medicare for a
limited time after a qualifying hospital stay.
Market research firm “Future Market Insights”
states that the U.S. skilled nursing facility market is expected to
grow at a compound annual growth rate of 3.32%, reaching US$252
billion by 2032. The ongoing research indicates that an increase in
conditions such as diabetes, stroke, high blood pressure, and other
lifestyle related diseases has resulted in an increase in
Alzheimer’s, driving the U.S. skilled nursing facility market
trends. In 2019, approximately 1.5 million Medicare patients
received care at approximately 15,000 skilled nursing
facilities.
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 $071. 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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