Reliq Health Technologies, Inc. Announces Three New Contracts with Physician Practices in Dallas, TX
GlobeNewswire
2021-09-14
HAMILTON, Ontario, September 14, 2021 (GLOBE NEWSWIRE) – Reliq Health Technologies Inc. (TSXV: RHT or OTC: RQHTF or WKN: A2AJTB) (“relic” or the “society“, A fast growing global telemedicine company developing innovative virtual care solutions for the multi-billion dollar healthcare market, announced today that it has signed new contracts through its partnership with Maxlink Health to bring its iUGO Care platform to three medical practices in Dallas pose, TX.
“We look forward to continuing our expansion in the Dallas, TX area,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “Working with Maxlink Health has given us access to new customers in North Texas and we expect there to be further growth in this region. With these contracts, Reliq will provide our iUGO Care software platform for over 1,800 Medicare patients. Onboarding with these customers begins this month. Reliq expects an average of USD 40 per patient per month for these assignments. “
“As previously announced, the company expects to generate approximately $ 2 million per month in sales by the end of December 2021,” continued Dr. Crossley gone. “Reliq is growing organically and very quickly in response to strong market demand for our solutions. Since Medicare introduced its first Remote Patient Monitoring (RPM) billing code in 2018, the average reimbursement our customers can receive from Centers for Medicare and Medicaid Services (CMS) has increased by over 500%, from $ 59 per patient and Month to over $ 372 per patient per month. The number of eligible virtual care services clinicians can deliver to patients through our iUGO Care platform has also increased dramatically from 1 to 18, with additional billing codes being added in 2022, creating significant market appeal for our products and services. Using iUGO Care enables physicians to provide high-quality virtual care to their at-risk patients, improve health outcomes, reduce hospital stays and lower healthcare costs. With our strong organic growth and the forecast gross margins of over 75% and EBITDA margins of over 45% by the end of the calendar year 2021, we assume that we will not have to raise additional funds in the future in order to achieve our sales targets. “
Via Maxlink Health
Maxlink Health is a telehealth and population management company providing business process outsourcing (BPO) services for effective care management and telemedicine solutions. Maxlink Health also provides preventive services through meaningful and dedicated communication methods with the target audience to encourage preventive screenings, vaccinations, diagnostic tests and participation in wellness programs with a team of dedicated nurses (RNs) and certified wellness professionals. Learn more at https://maxlinkhealth.com.
Reliq health
Reliq Health Technologies is a rapidly growing global telemedicine company specializing 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 health care. iUGO Care enables complex patients to receive quality care at home, improve health outcomes, improve the quality of life for patients and families, and reduce care costs. iUGO Care provides real-time access to remote patient monitoring data, enabling timely interventions by the care team to avoid costly hospital and emergency admissions. Reliq Health Technologies is traded on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.
ON BEHALF OF THE MANAGEMENT BOARD
“DR. Lisa Crossley”
CEO and Director
For more 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 regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Information
Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including but not limited to statements regarding future estimates, plans, programs, projections, projections, goals, beliefs, 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 relating to commercial operations, including technology developments, expected sales, projected market sizes, and other information based on projections of future results, estimates of amounts not yet determinable, and assumptions made by management.
Reliq Health Technologies Inc. (the “society“) does not intend and assumes no obligation to update these forward-looking statements unless required by law. Experience with technology development, uninsured risks Actual results may differ materially from those expressed or implied in such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
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