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Reliq Health announces New Contracts with 3 Physician Practices in Puerto Rico Adding more than 3,600 patients

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Reliq Health, a rapidly growing global telemedicine company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, has contracted to provide its proprietary iUGO Care platform to additional patients in Puerto Rico.

Additional Information:

Company: Reliq Health Technologies Inc.
Website: http://www.ReliqHealth.com
Stock Symbol: TSXV: RHT
Date Published: Oct 15, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Reliq Health Technologies Inc., a rapidly growing global telemedicine company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, has contracted to provide its proprietary iUGO Care platform to additional patients in Puerto Rico.

Through its collaboration with digiiMed, Reliq has signed contracts with three new primary care physician practices in Puerto Rico to provide its iUGO Care platform to their chronic disease patients.

digiiMED, a digital medicine services company, works with clinical providers and patients throughout Puerto Rico and Latin America.

Using Reliq’s iUGO Care Software, digiiMED allows providers to manage their patient’s chronic conditions, adjust medications and make treatment decisions based on real time data.

Reliq expects to onboard more than 3,600 patients with these three clients, at an average revenue of US$40 per patient per month for Reliq. with onboarding beginning this month, which is estimated to be completed in early 2022.

Dr. Lisa Crossley, CEO, stated: “Puerto Rico is a rapidly growing geography for Reliq thanks to our partnership with digiiMed. We are pleased to be adding these three new physician practices on the island to our platform. Chronic disease is a major concern for the healthcare system in Puerto Rico as over 50% of the population over age 50 have hypertension, over 30% have diabetes and over 42% have high cholesterol, all of which are risk factors for the development of other serious chronic diseases including congestive heart failure, kidney disease and cardiovascular disease. Patients living with chronic conditions also report higher levels of depression and anxiety than the general population. Using our iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules, clinicians can comprehensively address their patients’ physical and mental health needs.”

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.

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 $1.04.

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 Cassandra Bolinski for Investmentpitch Media