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Vancouver, British Columbia--(Newsfile Corp. - November 25, 2021) - Reliq Health Technologies (TSXV: RHT) (OTC Pink: RQHTF) (WKN: A2AJTB), a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market, continues its expansion into the United States, signing contracts with two new clients. These two contracts will add more than 1,000 new Medicare patients to the company's platform with an average revenue of US$65 per patient per month, or close to CDN$1 million on an annual basis. Onboarding of these new patients will begin next month.
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Dr. Lisa Crossley, CEO, stated: "We are also very pleased to announce that we have expanded our Hospice care solution to leverage features from both the iUGO Care and iUGO Home modules. Our expanded iUGO Hospice solution supports remote monitoring of hospice patients' vital signs as well as fall detection, medication reminders and personal emergency response services. iUGO Hospice provides clinicians with real time pulse oxygenation data which is particularly valuable in managing palliative patients on opioid pain medication. It also consolidates all patient data into one platform, allowing clinicians to more effectively prioritize care for this complex patient population. Over 1.5 million Medicare patients were enrolled in hospice programs in 2020 and over 48% of all Medicare patients will access hospice care at the end of life, creating significant demand for solutions like iUGO Hospice."
According to Statista, a leading provider of market and consumer data, home healthcare spending in the US alone, by Medicare and Medicaid exceeded US$80 billion in 2019 and has been growing at approximately 10% annually.
Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multi-billion 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 $1.28. 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.
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Barry Morgan, CFO
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