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(January 11, 2018)
VANCOUVER, British Columbia, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSX-V:RHT) (OTCQB:RQHTF) (“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) solutions for Community-Based Healthcare, is pleased to announce that it closed 2017 with over 6,000 paid subscribers using its iUGO Care chronic care management, remote patient monitoring and telemedicine platform, representing recurring monthly revenue of over US$300,000/month. As a result, December 2017 was the Company’s first month of profitability.
“We are excited to announce that we now have over 6,000 patients live on our iUGO Care platform,” said Dr. Lisa Crossley, CEO of Reliq Health. “The onboarding of patients is starting to accelerate as we move forward with our roll out to over 40,000 patients with the three current contracts in Texas. We are also very pleased to announce that we have achieved another critical milestone, as the Company reached profitability in December 2017. We continue to focus our efforts on the front line care providers in the US who are serving the over 37 Million Medicare and Medicaid patients who have two or more chronic diseases such as diabetes, hypertension, chronic obstructive pulmonary disease (COPD) and congestive heart failure. This market will continue to grow as the population ages and expands, and as pressure from lawmakers and insurers to reduce healthcare spending increases. Our iUGO Care platform allows healthcare providers to proactively manage complex chronic care patients in the lower cost community setting, reducing the need for costly acute interventions such as hospital stays, surgeries, long term care admissions and ER visits.”
Reliq’s iUGO Care digital health solution provides high quality virtual care in the community by creating a “virtual hospital ward” within the patient’s home, automatically collecting vital signs and encouraging and tracking medication adherence. iUGO Care’s unique interactive voice technology provides patients with audible alerts and reminders to take their medications, collect their vitals using Bluetooth-enabled monitoring devices and perform prescribed rehab or fitness activities. iUGO Care’s two-way voice hub provides voice-activated access to patient education content, empowering patients and family members to proactively manage complex chronic conditions. Reliq’s iUGO Care cloud platform instantly alerts the clinical care team if a patient develops key warning signs, allowing clinicians to intervene before a health crisis occurs, preventing costly and disruptive hospital readmissions and ER visits.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
For further information contact:
Renmark Financial Communications Inc.
Laura Welsh: [email protected] Tel: (416) 644-2020 or (514) 939-3989
or CORE Capital Partners at 604-566-9233 or [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
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.
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