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 healthcare 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 physician practices, a home health agency and three adult medical day care facilities in Texas, Nevada and Maryland.
“We are excited to be adding new adult medical day cares, physician practices and a home health agency to our platform,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Adult medical day cares provide medically supervised care to seniors with chronic conditions and other eligible individuals during daytime hours in an outpatient facility environment. These facilities will use the iUGO Care platform to monitor biometric data for these individuals while they are in the facility and automatically deliver alerts to their physicians for any abnormal readings. The adult medical day cares will also be using iUGO Care’s Telemedicine module to allow adults in their care to have virtual visits with a primary care physician or specialist without having to be transported from the facility. We expect to begin onboarding with these clients next month. The contracts are expected to add over 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 announce that, as projected, its aged accounts receivable (aged 12 months or over as of March 31, 2022) resulting from the flexible payment terms the Company extended to its clients during the pandemic have been collected. Software and professional services fees are currently collected in accordance with the Company’s standard payment terms and are expected to remain current going forward. Accounts receivable for hardware (medical monitoring devices) that was sold to clients on a payment plan are being collected on a monthly basis as scheduled and are expected to remain current going forward as well. The Company only sells hardware to clients who have also signed software and services contracts; there is, therefore, corresponding recurring revenue from software and services associated with every hardware sale.
Reliq Health
Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing 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 allows complex patients to receive high quality care at home, improving health outcomes, enhancing 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 ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director