Reliq Health Technologies, Inc. Signs New Contract with Respiratory Therapy Clinic in Texas to Add 10,000 New Patients

HAMILTON, Ontario, Sept. 01, 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 a new contract with a respiratory therapy clinic in Texas to add 10,000 new patients to the platform by mid-2024. Onboarding will begin in September 2023.

“The iUGO Care platform supports patients with asthma, Chronic Obstructive Pulmonary Disease (COPD) and other breathing issues by providing remote monitoring with connected spirometers, inhalers and nebulizers,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “According to the CDC (www.cdc.gov), over 20 Million Americans have COPD and it is the fourth leading cause of death in the States. Remote monitoring of asthma and COPD patients allows healthcare providers to identify early changes in lung function that can be easily treated at home with antibiotics, steroid inhalers or nebulizer treatments. These early interventions help prevent complications like inflammation, bronchitis and pneumonia that can cause permanent lung damage and lead to lengthy, disruptive and costly ICU stays. Under the Centers for Medicare & Medicaid Services (CMS) Remote Therapeutic Monitoring (RTM) program, physicians and respiratory therapists can provide RTM services, expanding Reliq’s addressable market. We expect to add over 10,000 patients to our iUGO Care platform by mid-2024 through this contract, at $65 per patient per month at >70% gross margin. Onboarding will begin this month.”

“The Company is also pleased to share that Hurricane Idalia has not significantly impacted its clients in Florida and will not disrupt onboarding or billing for Reliq’s clients in the state,” continued Dr. Crossley. “Onboarding, adherence and collections have continued to improve this quarter and the Company’s profitability continues to increase. Sales for FY 2023 more than doubled year over year relative to FY 2022 and are expected to more than double again in FY 2024. We look forward to continued record growth through the remainder of calendar year 2023 and beyond.”