“It is exciting to see the rapidly increasing demand for Reliq’s iUGO Care platform with specialists in the U.S….As the U.S. begins to open up thanks to a successful COVID-19 vaccine rollout, we are increasing the number of patients we onboard to our platform every week and signing new contracts with clients in a number of new market segments, including the nephrology space,” said Dr. Lisa Crossley, chief executive officer of Reliq Health Technologies.
Reliq is a global telemedicine company that specializes in developing innovative virtual care solutions for the health care market. Reliq’s iUGO Care platform is one of the Company’s most prominent innovations. iUGO Care is intended to provide healthcare providers with real-time access to a patient’s health history, demographic information, and real-time biometric data. In doing so, care teams are able to monitor a patient’s health status remotely and provide early-stage interventions if necessary. With this in mind, Reliq’s iUGO Care platform allows patients to receive high-quality care at home. Additionally, timely interventions by the care team help to prevent costly hospital or emergency room visits.
According to Grand View Research, the global home health care market was valued at USD 281.8 billion in 2019. The market is expected to grow at a CAGR of 7.9% from 2020 to 2027 which is exceptional considering how massive the home healthcare market already is. Keep in mind, this market has grow substantially due to the impact of COVID-19 and the increasing demand for home healthcare services.
“Using iUGO Care, nephrologists can monitor chronic kidney disease (CKD) patients at home to help prevent disease progression. Chronic kidney disease typically develops as a result of uncontrolled high blood pressure and/or diabetes. Ensuring medication compliance and managing blood pressure and blood sugar in CKD patients is critical to limiting further damage to the kidneys that could lead to end-stage renal disease (ESRD), dependence on dialysis, the need for a kidney transplant and ultimately death. Reliq will receive an average revenue of $65 (U.S.) per patient per month under the terms of these new contracts,” continued Dr. Lisa Crossley
Reliq’s iUGO Care platform will surely benefit patients suffering from CKD. However, as Reliq continues to rack up new patients, the Company is sure to make its fair share of profits in return. Reliq may be worth keeping an eye on as the Company signs additional contracts in other market segments. For example, the Company recently signed contracts with two new orthopedic practices. Despite being a small cap company, Reliq has attracted some attention and could see growth relative to the success of its iUGO care platform.
Reliq’s share price opened at $0.54, up from a previous close of $0.52. The Company’s share price currently sits at $0.54 following the news.