- Reliq Health Technologies (TSXV:RHT) will onboard 10,000 patients from a respiratory therapy clinic in Texas by mid-2024
- The company expects to collect $65 per patient per month at an over 70 per cent gross margin
- Reliq Health Technologies develops virtual care solutions for the multi-billion dollar healthcare market
- Reliq Health Technologies stock (TSXV:RHT) is down by 73.39 per cent over the past five years
Reliq Health Technologies (TSXV:RHT) will onboard 10,000 patients from a respiratory therapy clinic in Texas by mid-2024.
Beginning in September 2023, patients will be added to the company’s iUGO Care platform, which offers modular software solutions and care management services to provide virtual healthcare across remote patient monitoring, principal care, telemedicine, wound care, chronic care, behavioral health integration and transitional care.
The company expects to collect $65 per patient per month at an over 70 per cent gross margin.
“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,” Lisa Crossley, CEO of Reliq Health, said in a statement. “According to the Centers for Disease Control and Prevention, over 20 million Americans have COPD and it is the fourth-leading cause of death in the United 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 Remote Therapeutic Monitoring (RTM) program, physicians and respiratory therapists can provide RTM services, expanding Reliq’s addressable market,” she added.
The news coincides with sales for FY 2023 more than doubling YoY, with expectations that they will double again in FY 2024. The company achieved profitability in Q1 2023 with net income of C$730,000.
Recent patient acquisition milestones include over 50,000 across 20 U.S. rural health clinics, over 10,000 from a Mexican healthcare organization, and a large U.S. health plan serving more than 1 million patients.
See our recent profile on the company for further insights.
Reliq Health Technologies develops virtual care solutions to allow complex patients to receive high-quality care at home, improve health outcomes, and reduce the cost of care.
Reliq Health Technologies stock (TSXV:RHT) last traded at $0.38 per share. The stock is down by 73.39 per cent over the past five years.
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