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.”

Reliq Health

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

For further information please contact:

Company Contact
Investor Relations at ir@reliqhealth.com

US Investor Relations Contact
Investor Relations
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
646-829-9701
shamsian@lythampartners.com

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Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".

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.