HAMILTON, Ontario, April 07, 2022 (GLOBE NEWSWIRE) — Reliq Health Technologies Inc. (TSXV: RHT or OTC: RQHTF or WKN: A2AJTB) (“reliq“or the”Company”), a rapidly growing global health technology company that develops innovative virtual care solutions for the multi-billion dollar healthcare market, today announced that it has signed new contracts with two physicians, a home care agency, and three adult day care medical facilities in Texas, Nevada, and Maryland.
“We are excited to add new adult medical daycares, medical practices and a home health agency to our platform,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “Medical daycares for adults provide medically supervised care to the elderly, chronically ill and other eligible individuals during daytime hours in an ambulatory care facility environment.These facilities will use the iUGO Care platform to monitor data biometrics of these individuals during their stay at the facility and automatically alert their physicians of abnormal readings.Adult medical daycare centers will also use iUGO Care’s telemedicine module to allow the adults in their care to have virtual visits with a primary care physician or specialist without having to be transported out of the facility. We plan to begin onboarding these customers next month. The contracts are expected to add more than 2,000 new patients to the platform this year and generate an average revenue of $50 per patient per month.
The Company is also pleased to report that, as expected, its aged accounts receivable (12 months or older as of March 31, 2022) resulting from the flexible payment terms the Company extended to its customers during the pandemic have been recovered. Fees for software and professional services are currently collected in accordance with the Company’s standard payment terms and are expected to remain in the future. Accounts receivable for hardware (medical monitoring devices) that have been sold to customers on a payment plan are being collected on a monthly basis as scheduled and should also remain current. The Company only sells hardware to customers who have also signed software and service contracts; therefore, there is a corresponding recurring revenue from software and services associated with each hardware sale.
Reliq Health Technologies is a rapidly growing global health technology company specializing in the development of innovative virtual care solutions for the multi-billion dollar healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care enables complex patients to receive high-quality care at home, improving health outcomes, improving the quality of life for patients and families, and reducing the cost of delivering care. iUGO Care provides real-time access to remote patient monitoring data, enabling rapid care team interventions to avoid costly hospital readmissions and emergency room visits. Reliq Health Technologies trades on the TSX Venture Exchange under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.
ON BEHALF OF COUNCIL
“Dr. Lisa Crossley”
CEO and Director
For more information, please contact:
Investor Relations at [email protected]
US Investor Relations Contact
Lytham Partners, LLC
New York | Phoenix
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Reliq Health Technologies Inc. (the “Company“) does not intend and assumes no obligation to update these forward-looking statements, except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technological development and marketing activities, company history, technology development experience, uninsured risks Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.