Reliq Health Technologies Inc. (TSX VENTURE:RHT)(OTCQB:RQHTF) (“Reliq” or the “Company“),
a technology company focused on developing innovative mobile health
(mHealth) and telemedicine solutions for Community-Based Healthcare, is
pleased to provide the following corporate update to current and future
shareholders surrounding the recent developments at the Company.
Contracts and Pilot Programs
Reliq has launched a portfolio of remote patient monitoring,
care collaboration and telemedicine solutions and has secured the
following contracts and pilots:
- Reliq has secured a contract with the Paz Home Health in
McAllen, Texas that is expected to generate over US$6 million in
recurring annual revenue by 2018. Under the terms of the contract, Reliq
will provide its remote patient monitoring and care collaboration
platform to Paz’s homecare providers and 10,000+ patients. The first 500
patients are expected to go live on the platform in June 2017 ramping
up to the full 10,000+ patient population by the end of Q1 2018,
corresponding to recurring revenue of over US$500,000/month. - Reliq has also secured a contract with the City of
San Antonio, Texas to provide a white-labelled version of Reliq’s
platform to proactively support the health and wellness of the City’s
1.4 million residents. The majority of the revenue from this contract is
expected to be received between Q2 and Q4 2017. - The Company is currently piloting its software with
the National Health Service (NHS) England at Imperial College Hospital,
London, UK. The NHS is the largest single payer healthcare system
worldwide, providing coverage for over 54 million UK residents. The
pilot will end in Q3 2017. - Reliq has an ongoing pilot with Florida-based
Sacred Heart Health System (a five-hospital regional healthcare
network). Sacred Heart admits more than 30,000 patients annually and is a
part of Ascension Health – the largest Catholic, non-profit health care
system in the US and one of the largest global healthcare networks. The
pilot will conclude in late Q2 2017. - The Company also has an ongoing pilot with The
Feldman Institute in Baton Rouge, LA, an interventional pain management
clinic that performs thousands of pain management surgeries annually.
The pilot is expected to conclude in April 2017. - Reliq will be launching a pilot with Hamilton
Health Sciences (HHS) in Hamilton, ON in April 2017. HHS is a
five-hospital network that treats over 50,000 patients and performs over
28,000 surgeries each year.
Cannabis Business Initiatives
- Recently, Reliq signed a Memorandum of Understanding
(MoU) with Invictus MD Strategies Corp. (IMH.CN) (IVITF) to provide Poda
(an Invictus portfolio company) with an app its customers can use to
track and manage their medical marijuana usage. - Reliq is building a secure clinical database
designed to systematically anonymize, aggregate and analyze data
collected from medical marijuana patients using Reliq’s patient apps.
The anonymized clinical data will be used to statistically correlate
variables such as dosage, strain and mode of administration with symptom
relief and side effects. Ultimately this efficacy and safety data can
be used to help identify the optimal strain and dosage for a given
patient’s specific clinical condition.
Upcoming milestones in the next 6-12 months:
- Reliq is focused on continuing to secure new contracts
with home care agencies, assisted living facilities and hospitals in the
United States and Canada - The Company expects to achieve profitability by the end of 2017
Cash Position
The Company has received $164,416 from the exercise of
warrants as of March 28, 2017. Additionally, due to investor interest
the Company intends to close a convertible debenture of up to $700,000,
subject to the TSX Venture Exchange approval. The Company’s CFO will
subscribe to $100,000 of this debenture. Subscribers of the debenture
have agreed to a voluntary hold period of 6 months.
Company Overview
Reliq Health Technologies is a healthcare technology company
that specializes in developing innovative software solutions for the
Community Care market. Reliq’s powerful iUGO Care platform supports care
coordination and community-based healthcare. The iUGO Care platform
integrates wearables, sensors, voice technology and intuitive mobile
apps and desktop user interfaces for patients, clinicians and healthcare
administrators. 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.
Our platform 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 and on the OTCQB as
RQHTF.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
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.
Contact Information
Renmark Financial Communications Inc.
Laura Welsh
[email protected]
(416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
CORE Capital Partners
604-566-9233
[email protected]
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