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Reliq Health announces further expansion in Texas, with additional contracts to provide its proprietary iUGO Care platform to three new primary care physician practices

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These primary care physician practices will be using the company’s iUGO Care Remote Patient Monitoring, Chronic Care Management, and Behavioural Health Integration modules to service their chronic disease patients.

Additional Information:

Company: Reliq Health Technologies Inc.
Website: http://www.ReliqHealth.com
Stock Symbol: TSXV: RHT
Date Published: Oct 1, 2021
Transcript: Available

Video Transcript:

I’m Katriina Cotten for Investmentpitch Media

Reliq Health Technologies Inc., a rapidly growing global telemedicine company, announced further expansion in Texas, with additional contracts to provide its proprietary iUGO Care platform to three new primary care physician practices.

These primary care physician practices will be using the company’s iUGO Care Remote Patient Monitoring, Chronic Care Management, and Behavioural Health Integration modules to service their chronic disease patients.

Reliq expects to onboard more than 1,500 patients at an average revenue of US$60 per patient per month.

Onboarding of the patients from these three new primary care physician practices will begin this month and is expected to be completed later this quarter.

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 chronic disease patients to receive high-quality care in the home or other community-based setting thereby 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.

Dr. Lisa Crossley, CEO, stated: “We have seen a significant increase in demand for our solutions in Texas in response to the new Texas Medicaid guidelines that took effect September 1, 2021. Under the new guidelines, Texas Medicaid has expanded the clinical conditions eligible for remote patient monitoring reimbursement to include congestive heart failure, end-stage solid organ disease (heart, liver, kidney, lung, pancreas), organ transplant, and conditions requiring mechanical ventilation. While the federal Medicare program already included these conditions and several others, Texas Medicaid previously only provided coverage for remote monitoring of patients with hypertension and diabetes. The recent expansion of the Texas Medicaid remote patient monitoring program is consistent with the trends we’ve observed in the US healthcare market to increase both the reimbursement amounts available and the scope of virtual care programs aimed at chronic disease patients. As the coronavirus Delta variant continues to overwhelm US hospitals, community physicians are being urged to keep their chronic disease patients out of the ER and ICU by proactively managing their conditions using virtual care. There is a real sense of urgency among our clients to onboard their patients quickly to help keep them healthy and at home through what most healthcare professionals expect will be a very difficult fall and winter for hospitals due to the combined threat of the Delta variant and flu season. Using iUGO Care dramatically reduces the risk of hospitalization due to the complications typically seen in chronic disease patients, helping to keep these patients from adding to the strain on an already overburdened acute care system.”

Based on its strong organic growth, management is forecasting gross margins of more than 75% and EBITDA margins of more than 45% by the end of calendar year 2021.

The company does not anticipate raising additional funds going forward in order to achieve its revenue targets.

The shares are trading at $0.89.

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

I’m Katriina Cotten for Investmentpitch Media