Home Nurse Facilities Reliq Health Technologies, Inc. Announces 50 New Florida Skilled Nursing Facility Customers

Reliq Health Technologies, Inc. Announces 50 New Florida Skilled Nursing Facility Customers

0

HAMILTON, Ontario, November 04, 2022 (GLOBE NEWSWIRE) — Reliq Health Technologies Inc. (TSXV: RHT or OTC: RQHTF or WKN: A2AJTB) (“reliq“or the”Company”), a rapidly growing global health technology company that develops innovative virtual care solutions for the multi-billion dollar healthcare market, today announced that a previously disclosed client with a network of Skilled Nursing (SNF) facilities in Florida added 50 additional installations to its contract with the Company. This addition to the existing contract is expected to add an additional 5,000 new patients per month or 60,000 new patients per year to Reliq’s iUGO Care platform starting in 2023.

“We are very pleased that our existing customer has chosen to expand the deployment of our iUGO Care platform to an additional 50 Skilled Nursing (SNF) facilities in their network,” said Dr. Lisa CrossleyCEO of Reliq Health Technologies, Inc. “As with the 40 facilities previously announced, we will provide our iUGO Care Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioral Health Integration (BHI) solutions to help improve post-discharge health outcomes and reduce readmissions, while generating new revenue streams for facilities. Reliq will provide TCM to newly discharged patients at a rate of $60 per patient, with recurring revenue from RPM, CCM and BHI of $65/patient per month, at 75% gross margin. We will begin onboarding patients to these additional facilities in early 2023. Once all 50 facilities are operational, we expect to onboard over 5,000 of their newly discharged patients each month going forward. Skilled nursing facilities represent a large and previously untapped market for Reliq’s products. There are more than 15,000 SNFs in United States and more than 1.5 million Medicare patients received care in an SNF setting in 2021 (www.cms.gov). We are very pleased to gain significant traction in this space.

Reliq Health
Reliq Health Technologies is a rapidly growing global health technology company specializing in the development of 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 enables complex patients to receive high-quality care at home, improving health outcomes, improving the quality of life for patients and families, and reducing the cost of delivering care. iUGO Care provides real-time access to remote patient monitoring data, enabling rapid care team interventions to avoid costly hospital readmissions and emergency room visits. Reliq Health Technologies trades on the TSX Venture Exchange under the symbol RHT, on the OTC under the name RQHTF and on the Frankfurt Stock Exchange under the WKN: A2AJTB.

ON BEHALF OF COUNCIL
“Dr. Lisa Crossley”
CEO and Director

For more information, please contact:

Company details
Investor Relations at ir@reliqhealth.com

US Investor Relations Contact
Investor Relations
Lytham Partners, LLCBen ChamsyanNew 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.

Cautions Regarding Forward-Looking Information
Certain statements contained 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, goals, assumptions, expectations or beliefs, are “forward-looking statements.”

We caution you that these “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in these statements.

Forward-looking statements include, but are not limited to, statements regarding business operations, including technology development, anticipated revenues, projected market size, and other information based on forecasts of future results, estimates of amounts not yet determinable and management assumptions.

Reliq Health Technologies Inc. (there “Company“) does not intend and assumes no 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, technological development and marketing activities, company history, technology development experience, uninsured risks Actual results may differ materially from those expressed or implied by such forward-looking statements.

THE SOURCE: Reliq Health Technologies Inc.

main logo

Source: Reliq Health Technologies Inc.

2022 GlobeNewswire, Inc., source Press Releases