Equity.Guru friends Reliq Health Technologies (RHT.V) have dropped some solid news, that they’ve been accepted into the UK National Health Service’s ‘Test Beds’ program, to run a pilot test in a London-area hospital in Q4.
Reliq is a player in the telemedicine space, that allows doctors, specialist, therapists, family and friends to keep an eye on long term patients using home-based monitors that show movement, whether meds are being properly taken, and vital health stats, in one simple, secure dashboard.
Telemedicine is the next big thing in health, as doctors and hospitals realize it’s a lot easier and more effective to monitor patients at home rather than call them in, do tests on them, and get results a week later that show there’s a problem.
For Reliq, the cost per patient can be as little as $2k per, whereas traditional home-based care can cost $25k, and in-facility care can cost many multiples more than that.
Reliq has existing US pilot programs ongoing and has progressed quickly into the space with real world deals, but the progress of the company hasn’t necessarily been reflected in the share price, with ongoing short campaigns being run through Stockhouse’s bullboards, as an example.
As news rolled out last week that 9-year Canadian Conservative MP Brian Storsteth had joined the board, the stock was traded heavily, but didn’t shift upward much as weak hands rolled out.
“I admire how far Reliq has come in a very short period of time and am impressed with the traction the team has achieved with their technology in the United States. I look forward to working with them to introduce the technology to various Provinces, health authorities and other potential users. Using technology like Reliq’s to improve efficiencies, reduce costs and improve the quality of care is the future of healthcare for both publicly and privately funded systems,” said Storsteth.
Having a former MP walk you into every Canadian province’s health department for a pitch is a good thing. But having that pilot program with the UK NHS is massive. If that goes well, it’s a company maker.
There are personality-based efforts to hurt Reliq on the markets right now, but that only helps to make the stock cheaper for you right now. With the stock trading at $0.135, a level not seen in over a year, when the company was a theory and not a going concern, frankly, I’d be shocked if you get a better entry point on the thing going forward.
CEO Dr Lisa Crossley did a podcast with us a few months back, which you can enjoy below.
— Chris Parry