HAMILTON, Ontario, April 28, 2023 (GLOBE NEWSWIRE) -- 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, is pleased to announce that it has signed five new contracts with physician practices and home health agencies in Arkansas, California, Nevada and Texas. These new contracts are expected to add over 3,000 new patients to Reliq's iUGO Care platform by the end of 2023, at an average revenue of $65 per patient per month.
"We are very pleased to be expanding into the state of Arkansas," said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. "According to the Partnership to Fight Chronic Disease (www.fightchronicdisease.org/Arkansas), 5% of the population in Arkansas account for 50% of all healthcare spending in the state due to chronic diseases like high blood pressure, diabetes, congestive heart failure, kidney disease and COPD. Healthcare costs for chronic disease patients in Arkansas are expected to exceed $19 billion annually going forward unless the management of chronic disease in the state is improved. Reliq's iUGO Care platform has been proven to reduce hospitalizations, improve health outcomes and generate significant cost savings to the healthcare system when used with chronic disease patients, which makes it a perfect fit for clinicians in Arkansas and other states with high rates of chronic disease. All five clients will be using the iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. We expect to add over 3,000 patients to the iUGO Care platform by the end of 2023 with these clients, at an average of $65 per patient per month with an expected 75% gross margin."
Reliq Health
Reliq 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 Contact
Investor Relations at ir@reliqhealth.com
US Investor Relations Contact
Investor Relations
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
646-829-9701
shamsian@lythampartners.com
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Certain 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.
