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Vancouver, British Columbia--(Newsfile Corp. - October 22, 2021) - Reliq Health Technologies (TSXV: RHT) (OTC Pink :RQHTF) (WKN:A2AJTB),, 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 four new primary care physician practices in the United States for their chronic disease patients.
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Management expects to onboard over 2,000 patients with these clients, at an average revenue of US$50 per patient per month for Reliq, with onboarding scheduled to begin this month and is expected to be completed in early 2022.
Dr. Lisa Crossley, CEO, stated: "We are excited to be adding these four new physician practices and their Medicare and Medicaid patients. As both Medicaid and Medicare expand the scope of their virtual care programs to include additional conditions such as high risk pregnancy, solid organ disease, musculoskeletal conditions and others, the eligible patient population for Reliq's products and services continues to increase. Demand for the iUGO Care platform is steadily increasing as clinicians recognize the significant revenue potential associated with offering virtual care programs to their at-risk patients. As we predicted at the beginning of this year, we are experiencing tremendous growth in the second half of 2021 after a relatively quiet first half of the year due to the pandemic."
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 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.
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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