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Reliq Health Technologies Inc
Symbol RHT
Shares Issued 204,277,929
Close 2023-09-11 C$ 0.42
Market Cap C$ 85,796,730
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Reliq Health signs contract with U.S. health care co.

2023-09-12 09:35 ET - News Release

Dr. Lisa Crossley reports

RELIQ HEALTH TECHNOLOGIES, INC. ANNOUNCES NEW CONTRACT WITH LEADING US HEALTHCARE COMPANY WITH 75 LOCATIONS IN EIGHT STATES

Reliq Health Technologies Inc. has signed a contract with a leading U.S. health care company with 75 locations in eight states. The client provides integrated services across the continuum of care including skilled nursing, rehabilitation, dialysis, long-term care, memory care and home health. The client has been recognized by both Newsweek and U.S. News & World Report as having some of the top long-term care and skilled nursing facilities in the United States.

"This is a huge win for Reliq that further reinforces our reputation as the gold-standard virtual care solution for patients with chronic conditions," said Dr. Lisa Crossley, chief executive officer of Reliq Health Technologies. "Our client is consistently ranked among the top providers in the U.S. for both short- and long-term inpatient care. We were able to secure this contract thanks to Reliq's documented success with our skilled nursing facility clients in Florida, where we have reduced readmission rates by over 80 per cent, enabling our clients to avoid significant financial penalties from Medicare and Medicaid. We will begin our staged rollout with the client's facilities in Kentucky, a state with very high rates of hypertension and diabetes, particularly amongst seniors. Reliq will be providing remote patient monitoring (RPM), remote therapeutic monitoring (RTM), chronic care management (CCM), behavioural health integration (BHI) and transitional care management (TCM) to patients both in-facility and in the community. We expect to add more than 25,000 new patients to the iUGO Care platform over the first 12 months of this initial deployment in Kentucky, with implementation plans for the facilities in the other seven states to be finalized with the client in the new year. We expect to generate revenue of $65 per patient per month at approximately 70-per-cent gross margin. Onboarding will begin next quarter."

About Reliq Health Technologies Inc.

Reliq Health Technologies is a rapidly growing global health care technology company that specializes in developing innovative virtual care solutions for the multibillion-dollar health care market. Reliq's powerful iUGO Care platform supports care co-ordination and community-based virtual health care. 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 emergency room visits.

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