InvestmentPitch Media Video Discusses Reliq Health’s Continued US Expansion and Signing of 5 New Contracts with Physician Practices in Nevada, California and Texas
March 04 2022 - 2:00AM
Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF)
(FSE:MHN2), a rapidly growing global telemedicine company
developing innovative Virtual Care solutions for the
multibillion-dollar Healthcare market, has signed 5 new contracts
with physician practices in Nevada, California and Texas.
Dr. Lisa Crossley, CEO, stated: “We are very
excited to be expanding into Nevada with three new physician
practices. Over 1 million residents of Nevada have chronic
conditions like hypertension, arthritis, diabetes and kidney
disease. Nevada is ranked 47th out of 50 US States in terms of the
ratio of physicians to residents, making access to care a
significant challenge for patients across the State. Using Reliq’s
iUGO Care platform, clinicians in Nevada can provide high quality,
proactive, preventative care to more patients, improving access to
care and health outcomes for at-risk patients. We are also pleased
to add two new primary practices in California and Texas.”
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Together, these five new contracts are expected to
add more than 2,500 new patients to the company’s platform with
patient onboarding from these practices expected to begin in April.
When the 2,500 patients are fully onboarded and generating revenues
of US$50 per patient per month, the company anticipates generating
revenue of more than CDN$150,000 per month.
The company released its financials for the second
quarter earlier this week.
Commenting of these financials, Dr. Crossley
stated: “The first two quarters of FY2022 were a period of rapid
growth for the company. Revenues for the period from July 1 to
December 31, 2021 were $3,748,292 as compared to $843,449 for the
period from January 1 to June 30, 2021, an increase of over 344%.
Gross Margin improved to 74% in Q2 FY2022 as compared to 58% for
FY2021. Despite the dramatic resurgence of COVID (Omicron variant)
in Q2 FY2022, the company reached a revenue run rate of $2
Million/month as of December 31, 2021, where run rate represents
the number of subscribers onboarded as of the given date.”
Based in Hamilton, Ontario, with offices in
Florida and Texas, Reliq specializes in developing innovative
Virtual Care solutions for the multibillion-dollar healthcare
market. The company’s powerful iUGO Care technology platform is a
comprehensive SaaS solution that allows complex patients to receive
high-quality care at home, improving health outcomes, enhancing the
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.
The shares are trading at $0.90. For more
information, please visit the company’s website,
www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations
in the United States is handled by Ben Shamsian of Lytham Partners,
who can be reached at 649-829-9701 or by email at
shamsian@LythamPartners.com.
Disclaimer
The information in this Investmentpitch Media Ltd
video is for the viewers information only. Reliq Health
Technologies has paid a fee not exceeding $2,000 in cash to have
its current news release produced in video format. The corporate
information is based on information that is publicly available. Any
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