VANCOUVER, British Columbia, July 07, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global healthcare technology company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed its first contract in Mexico.
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Dr. Lisa Crossley, CEO, stated: “We are very excited to be expanding our business into Mexico. 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, a healthcare organization, will be using the company’s 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. This contract is expected to add more than 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, with onboarding of new patients to begin next month. Management anticipates an increasing demand for Reliq’s iUGO Care solutions in Mexico going forward.
Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multibillion-dollar healthcare market. The company’s powerful iUGO CARE platform for care coordination and home healthcare integrates wearables, sensors, voice technology with intuitive mobile apps and desktop software for patients, families, clinicians, and healthcare administrators, allowing complex patients to receive high-quality care at home, 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.
The shares are trading at $0.48. 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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