18:10:24 EDT Sun 28 Apr 2024
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Reliq Health Technologies Inc
Symbol RHT
Shares Issued 220,155,929
Close 2024-01-16 C$ 0.215
Market Cap C$ 47,333,525
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Reliq adds 500 patients to U.S. mental health program

2024-03-25 19:52 ET - News Release

Mr. Chris Shields reports

RELIQ HEALTH TECHNOLOGIES, INC. ANNOUNCES ONBOARDING OF NEW MENTAL HEALTH PATIENTS AND MANAGEMENT CHANGES

Reliq Health Technologies Inc. is adding the first 500 patients to its expanded mental health service portfolio and expects to add an additional 10,000 patients by the end of 2024.

"We are very pleased to be adding the first 500 patients in the U.S. Virgin Islands, Florida and Nevada to our new expanded mental health care program," said Chris Shields, chief executive officer at Reliq. "Providing cognitive assessments through iUGO Care will allow clinicians to identify and treat patients with previously undiagnosed mental health needs. Eligible patients will be provided with ongoing behavioural health or collaborative care management services, for which their physician will pay Reliq's standard monthly subscription fees. In addition, patients will receive cognitive assessments twice per year for which their physician will pay Reliq a one-time fee per assessment. The company expects to generate an average revenue of $576 per patient per year or $48 per patient per month for these patients at 70-per-cent gross margin, and expects to add a further 10,000 new patients to our expanded mental health care program by the end of 2024. The high demand for our new expanded mental health care services further demonstrates our products' unique ability to address existing unmet needs in the Medicare patient population. Our clients have consistently expressed high levels of satisfaction with the usability and efficacy of our products and with the cost savings and new revenue streams they realize by offering new services through our iUGO Care platform."

The company also wishes to announce that it has accepted the resignation of its chief financial officer, Michael Frankel. Following the resignation of Mr. Frankel, the board of directors has appointed Kevin Cornish as the company's chief financial officer.

"We are also delighted to announce the addition of Kevin Cornish to the Reliq management team as the company's chief financial officer," continued Mr. Shields. "Mr. Cornish possesses the critical skills and experience that will enable Reliq to continue to grow its business in size and complexity. Mr. Cornish is an accomplished public company CFO with over 17 years of international leadership experience in finance, strategy and operations. He has worked with multiple start-ups and led successful turnarounds at a diverse group of companies in both Canada and the United States. His experience with public company audits and cross-border businesses will be a tremendous asset to Reliq going forward. Mr. Cornish holds an MBA and a CPA designation."

About Reliq Health Technologies Inc.

Reliq is a 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. Reliq trades on the TSX Venture Exchange under the symbol RHT, on the OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN: A2AJTB.

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