Reliq Health Technologies Inc. (OTCMKTS:RQHTF) Stock Surges After Getting New US Contracts, New Management Hire

Reliq Health Technologies Inc. (OTCMKTS:RQHTF) was up 7.5%. The company announced that a nephrology clinic, three home care agencies, and two primary care physician practices in the United States had inked contracts with the company.

Market Stats

On Thursday, RQHTF stock moved up 7.50% at $0.7850 with more than 142K shares, compared to its average volume of 200k shares. The stock has moved within a range of $0.7704 – 0.7945 after opening the trade at $0.7797.

Recent News

The company also announced hiring a new CFO in Ontario to finalize operations consolidation to the Hamilton headquarters.

CEO Dr. Lisa Crossley said that they continue to add new clients at a fast rate, with a good number of clients being from referrals. Considering most of the company’s new clients contacted after getting information about the iUGO Care platform from existing clients, it shows that the platform has an appealing value proposition.

Lisa explained that they have demonstrated that the iUGO Care platform adoption can enhance health outcomes of chronically ill patients, minimize hospitalization, and produce considerable revenue for practitioners. The platform’s deployment can generate close to $1 million in new revenues from CMS at margins of more than 75%. Investors should watch RQHTF.

Key Quote

“We continue to add new clients at an accelerating rate, with a significant percentage of our new clients coming from referrals,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “The fact that so many of our new clients reached out to us after hearing about the iUGO Care platform from our existing clients is a strong testament to the compelling value proposition of our platform. We have clearly proven that using the iUGO Care platform improves health outcomes and reduces hospitalizations for chronic disease patients and generates significant new revenue for clinicians. A typical physician practice can bring in over $1 Million in new payments from the Centers for Medicare & Medicaid Services (CMS) at profit margins of over 75% by implementing iUGO Care. Proactive, preventative virtual care has the potential to save CMS tens of billions of dollars a year, so using iUGO Care is a win for every constituent in the healthcare system – patients, clinicians and payors. We expect to onboard over 3,500 patients with these new clients at an average revenue of over $50 USD per patient per month for Reliq. Onboarding will begin next month and is expected to be completed in Q1 Calendar Year 2022.”

Traders Corner

RQHTF stock is trading below the 20-Day and 50-Day Moving averages of $0.83 and $0.82 respectively. However, the stock is trading above 200-Day moving average of $0.56. The stock is up 14% in the past month.