VANCOUVER, British Columbia—Reliq Health Technologies Inc., a global health care technology company developing innovative virtual care solutions for the multibillion-dollar health care market, has signed five new contracts with physician practices and home health agencies in Arkansas, California, Nevada and Texas.
These new contracts are expected to add more than 3,000 new patients to Reliq’s iUGO Care platform by the end of 2023 and generate an average revenue of $65 monthly per patient at an expected 75% gross margin. All five clients will be using the iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules.
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“We are very pleased to be expanding into the state of Arkansas," said Lisa Crossley, CEO. "According to the Partnership to Fight Chronic Disease, five percent of the population in Arkansas account for 50% of all health care spending in the state due to chronic diseases like high blood pressure, diabetes, congestive heart failure, kidney disease and COPD. Health care costs for chronic disease patients in Arkansas are expected to exceed $19 billion annually going forward unless the management of chronic disease in the state is improved. Reliq’s iUGO Care platform has been proven to reduce hospitalizations, improve health outcomes and generate significant cost savings to the health care system when used with chronic disease patients, which makes it a perfect fit for clinicians in Arkansas and other states with high rates of chronic disease.”
This initial entry into the Arkansas market could offer significant potential for Reliq as the state reported 1.9 million people had at least one chronic disease with 787,000 suffering from two or more chronic diseases in 2015.
Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative virtual care solutions for the multi-billion dollar healthbcare market. The company’s iUGO Care platform for care coordination and home health care integrates wearables, sensors, voice technology with intuitive mobile apps and desktop software for patients, families, clinicians and healthcare administrators, allowing complex patients to receive 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 $0.58. For more information, visit the company’s website, 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.
