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Reliq Health Technologies, Inc. Announces 50 New Skilled Nursing Facilities Clients in FloridaHAMILTON, Ontario, Nov. 04, 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 a previously disclosed client with a network of Skilled Nursing Facilities (SNFs) in Florida has added an additional 50 facilities to its contract with the Company. This addition to the existing contract is expected to add a further 5,000 new patients per month or 60,000 new patients per year to Reliq’s iUGO Care platform beginning in 2023. “We are very excited that our existing client has chosen to expand the deployment of our iUGO Care platform into an additional 50 of the Skilled Nursing Facilities (SNFs) in their network,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “As with the previously announced 40 facilities, we will be providing our iUGO Care Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) solutions to help improve post-discharge health outcomes and reduce readmissions, while also generating new revenue streams for the facilities. Reliq will provide TCM to newly discharged patients at a rate of $60 per patient, with recurring revenue from RPM, CCM and BHI of $65/patient per month, at 75% gross margin. We will begin onboarding patients with these additional facilities in early 2023. Once all 50 facilities are live we expect to onboard over 5,000 of their newly discharged patients every month going forward. Skilled Nursing Facilities represent a large and previously untapped market for Reliq’s products. There are over 15,000 SNFs in the United States and over 1.5 million Medicare patients received care in a SNF setting in 2021 (www.cms.gov). We are very pleased that we are gaining significant traction in this space.” Reliq Health ON BEHALF OF THE BOARD For further information please contact: Company Contact US Investor Relations Contact Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements Regarding Forward Looking Information We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Reliq Health Technologies Inc. (the "Company") does not intend and does not assume any 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, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements. SOURCE: Reliq Health Technologies Inc.
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