VANCOUVER, British Columbia, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. RHT RQHTF MHN, a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed 5 new contracts with three physician practices and a home health agency in California, Nevada and Texas and a Rural Health Clinic in the US Virgin Islands.
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The company has already begun onboarding these clients and expects to add 5,000 new patients to its iUGO Care platform. When these 5,000 new patients are fully onboarded by the end of June 2023 and generating an average revenue of US$60 per patient per month at a 75% gross margin, the company anticipates generating additional gross revenue of approximately CDN$400,000 per month.
Dr. Lisa Crossley, CEO, stated: "It is very gratifying to continue to see strong and growing demand for Reliq's virtual care solutions in California, Nevada and Texas. We are also very excited to be expanding in the US Virgin Islands with another Rural Health Clinic client. The Company will be providing the full suite of iUGO Care software and care management services (as needed) to these clients. The Company remains on track to onboard over 100,000 patients by the end of December 2022 and over 200,000 patients by the middle of 2023. With this large patient population on the platform in 2023, Reliq expects to start monetizing its database of anonymized patient data in late 2023, introducing a significant new source of revenue for the business."
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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