VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) — Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (WKN:A2AJTB), a rapidly growing global telemedicine company, continues its expansion in Texas, with additional contracts to provide its proprietary iUGO Care platform. Through its partnership with Maxlink Health, it will be providing its services to an additional three physician practices in Dallas, Texas.
Maxlink Health (www.MaxlinkHealth.com), a Tele Healthcare and Population Management Company, provides Business Process Outsourcing services for effective Care Management and Telehealth Solutions.
Maxlink Health, through its Care Team 365 RN program, uses its team of registered nurses and certified wellness experts to track the daily health status of its patients in addition to tracking symptoms and potential side effects to medications. If any issues are detected, the primary physician is notified to schedule a phone consultation or visit if needed.
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.
Dr. Lisa Crossley, CEO, stated: “We are excited to continue our expansion in the Dallas, TX area. Working with Maxlink Health has given us access to new clients in North Texas and we expect to see continued growth in this region. Through these contracts Reliq will be providing our iUGO Care software platform to over 1,800 Medicare patients. Onboarding with these clients will start this month. Reliq expects to receive an average of US$40 per patient per month for these deployments. As previously disclosed, the Company expects to achieve a revenue run rate of approximately $2 Million per month by the end of December 2021. Reliq is growing organically and very rapidly in response to strong market demand for our solutions. Since Medicare introduced its first billing code for Remote Patient Monitoring in 2018, the average reimbursement that our clients can receive from the Centers for Medicare and Medicaid Services (CMS) has increased by over 500%, from US$59 per patient per month to over US$372 per patient per month. The number of eligible virtual care services clinicians can provide to patients through our iUGO Care platform has also increased dramatically from 1 to 18 with additional billing codes to be added in 2022, creating significant market pull for our products and services. Using iUGO Care allows clinicians to provide high quality virtual care to their at-risk patients, improving health outcomes, reducing hospitalizations, and decreasing healthcare costs.”
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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