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Telemedicine Tech Firm Poised to Generate $11 Million of Revenue

September 27, 2021 (Investorideas.com Newswire) Reliq Health Technologies signs contracts with three new clients for its proprietary remote healthcare delivery and care tracking platform, which has particularly significant implications during the era of the COVID-19 pandemic.

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Reliq Health Technologies Inc. (RHT:TSX.V; RQHTF:OTCQB; A2AJTB:WKN), which develops and provides innovative software as a service solutions to U.S. care providers, is one step closer to reaching its year-end 2021 revenue goal given that three more medical practices just signed up for its proprietary iUGO Care platform and Care Management Services, as noted in a recent news release.

This comes after their previous announcement earlier this month that they are expanding their iUGO Care system to over 1,500 patients through Rural Health Clinics (RHCs) in the U.S. Virgin Islands.

This trio of additional practices encompasses 3,800 Medicare patients, and with these new clients, Reliq will garner $40 per patient per month.

Reliq will provide its services through its partnership with Maxlink Health, a telehealth and population management firm.

The company, which is turning a profit, expects to generate $11 million ($11M) in revenue this year and end 2021 with a revenue run rate of $24M annually with gross margins above 75% and EBITDA margins higher than 45%.

Contracting with these three new clients, located in Dallas, Texas, also expands the company’s footprint in The Lone Star State. Whereas Reliq is headquartered in Hamilton, Ontario, it has offices in Texas and Florida. The company currently has about 50 clients in the U.S.

The care technology company targets three major segments: virtual care, long-term care, and big data. All are large and growing. The global healthcare big data market, for instance, is expected to reach $17 billion by 2022, according to the U.S. Department of Health and Human Services.

The COVID-19 pandemic, which officially began to change life in the U.S. in a significant way in March 2020, altered the world of medicine and healthcare, arguably forever, if not just for the foreseeable future.

Reliq’s iUGO Care platform is the right tool for the moment, and allows care providers to have virtual visits with patients, monitor patients remotely, manage the chronic care they provide, and monitor and track wound care progress. Also, the iUGO Care cloud supports the anonymization, storage, and analysis of patient data collected via iUGO Care.

The team at Streetwise Reports will keep you apprised of new developments from Reliq Health Technologies Inc. and any related implications on healthcare and patient relations.

Disclosures:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Reliq Health Technologies Inc. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Reliq Health Technologies Inc, a company mentioned in this article.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

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