HAMILTON, Ontario, July 06, 2023 (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, is pleased to announce that it has signed its first contract in Mexico. The new client is a healthcare organization that is expected to add over 10,000 new patients to Reliq’s iUGO Care platform by the end of June 2024, at an average revenue of $50 per patient per month.
“We are very excited to be expanding our business into Mexico,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Thanks to our success in the Southern US states and our multilingual platform and care management team, we have been able to attract our first client in San Luis Potosi, Mexico. A number of major multinational corporations have operations in San Luis Potosí, including BMW, General Motors and Cummins, and the city has a population of 2.8 Million. According to the World Health Organization, Diabetes is one of the leading causes of death in Mexico, where there are also high rates of hypertension, chronic kidney disease and congestive heart failure. The impact of chronic disease on productivity has led many employers in Mexico to offer healthcare coverage focused on preventative care. The two largest providers of public health in Mexico, the Ministry of Health and the Mexican Social Security Institute, have also launched key initiatives aimed at improving the management of chronic disease, creating a significant opportunity for Reliq. The new client will be using our iUGO Care Remote Patient Monitoring (RPM) solution, which has been proven to improve health outcomes, increase patient engagement and reduce healthcare costs, even in the most challenging patient populations and environments. We expect to see increasing demand for Reliq’s iUGO Care solutions in Mexico going forward. This contract is expected to add over 10,000 patients to the iUGO Care platform by the end of June 2024, at an average of $50 per patient per month with an expected 75% gross margin. Onboarding with this client will begin next month.”
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 Frankfurt Stock Exchange under the WKN:A2AJTB.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
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SOURCE: Reliq Health Technologies Inc.