HAMILTON, Ontario, Nov. 04, 2022 (GLOBE NEWSWIRE) — Reliq Health Technologies Inc. (TSXV: RHT or OTC: RQHTF or WKN: A2AJTB) (“Reliq” or the “Company”), a global health technology in fast-growing 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 more locations 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 Crossley, CEO 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 a gross margin of 75%. 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 the 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 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 as RQHTF and on the Frankfurt Stock Exchange under the name WKN:A2AJTB.
ON BEHALF OF COUNCIL
“Dr. Lisa Crossley”
CEO and Director
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SOURCE: Reliq Health Technologies Inc.
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