HAMILTON, Ontario, March 08, 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 40 new Skilled Nursing Facility (SNF) clients in California, Florida and Pennsylvania. These clients are expected to add over 4,000 new patients per month to Reliq’s iUGO Care platform by the end of 2023, or over 48,000 patients per year at an average revenue of $65 per patient per month.
“We continue to see tremendous growth in Reliq’s business in the Skilled Nursing Facility (SNF) space,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “SNFs are very attractive clients for the Company because the facilities’ staff along with Reliq’s implementation team are able to train patients on the system prior to discharge from the SNF. This helps ensure that patients are comfortable and confident in their use of the iUGO Care platform before they even leave the facility. As a result, we have already documented >70% adherence in these patients post-discharge, with adherence expected to reach an average of >80% over time as patients gain further experience with the platform. By the end of this calendar year, we expect to be adding 4,000 patients per month to the iUGO Care platform through these facilities, at an average revenue of $65 per patient per month at 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
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.
