InvestmentPitch Media Video Discusses Reliq Health’s Signing of 6 New Contracts, approx. 3,000 new Patients to its iUGO Health Platform and Related AI Applications
February 17 2023 - 6:00AM
Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF)
(FSE:MHN2), has signed new contracts with three Assisted Living
Facilities and three physician practices in Pennsylvania and
California. The company expects to onboard more than 3,000 new
patients to its iUGO Care platform through these contracts by the
end of the year, at an average revenue of $65 per patient per month
at 75% gross margin.
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available by clicking on the image or link below:
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InvestmentPitch Media video which provides additional news about
the company, along with insights into this news from Bruce
Campbell, President and Portfolio Manager of Stonecastle Investment
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The Assisted Living Facilities (ALFs) will be
using Reliq’s iUGO Home solution to provide in-facility emergency
alerts, fall detection and geofencing, along with a secure portal
for family members to monitor their loved one’s condition while in
the ALF. The geofencing feature allows staff to receive alerts if a
patient with cognitive issues attempts to leave the facility on
their own. The facilities will also be using Reliq’s patient
monitoring and telemedicine modules to track medication compliance,
monitor vitals, and facilitate virtual visits for their residents
with primary care providers and specialists such as
cardiologists.
Dr. Lisa Crossley, CEO, stated: “We are very
pleased to be expanding into Pennsylvania as well as continuing to
grow our business in California. Since many ALF residents have
significant heath and mobility issues, virtual visits allow them to
receive high quality care in the facility without the cost,
inconvenience and risk of falls or exposure to COVID, RSV and
influenza associated with being transported to their physician’s
office. We’re often asked how we can use Artificial Intelligence
(AI) in our iUGO Care platform to improve patient health outcomes.
The use case described above is a good example of a potential
application of AI in iUGO Care. The fall detection data collected
in Assisted Living Facilities along with the data on patients’
medications, clinical conditions and vital signs can be used with
AI to create predictive algorithms that identify those patients who
are most at risk of falls. This allows facilities to implement
appropriate fall prevention measures for these at-risk patients,
reducing falls and the resulting complications and
hospitalizations. The combination of our comprehensive patient
dataset with AI technology enables clients to provide proactive,
preventative patient care to further safeguard their patients’
health and safety.”
According to Grand View Research, the U.S.
Assisted Living Facility market was $91.8 billion in 2022 and is
expected to grow to $140.8 billion by 2030. The rise in the
geriatric population due to increased life expectancy is expected
to grow rapidly in the future, with those over 85 years of age
accounting for the largest market share at 52.35% in 2022.
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,
allowing 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 $0.53. 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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Technologies has paid a fee not exceeding $2,000 in cash to have
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