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August has been a banner month for Reliq Health Technologies Inc. (RHT.V) (RQHTF) and these developments have the company positioned for significant growth.
Reliq is going to see significant revenue growth on a month-over-month basis going forward. The company has contracts in place with a 12,000-patient home care agency and a 36,000 patient Accountable Care Organization (ACO) in Texas that are expected to generate over $10 million in recurring annual revenue in 2018.
Revenue to Ramp Following Two Major Milestones
The healthcare technology company started the month hot when it reported that its remote patient monitoring and telemedicine solution with Paz Home Health LLC in Texas went live.
Reliq has started to enroll the first of Paz’s patients and expects to add 500+ patients to the platform each month going forward. Paz services more than 10,000 patients across 16 counties in southern Texas. Once the platform is at full deployment, Reliq will be generating over $6 million in recurring annual revenue.
Today, Reliq announced another milestone after going live with its remote patient monitoring, care coordination and telemedicine platform with Rio Grande Valley Health Alliance.
Reliq started enrolling the first patients and expects to add 500+ patients to the platform each month and will be generating over $20 Million in recurring annual revenue when it is at full deployment. Rio Grande has more than 30,000 primary care patients.
Rio Grande Valley Health Alliance is an ACO comprised of 17 primary care physicians working with Medicare to provide better coordinated care to patients. The ACO is made up of 15 independent practices focusing on primary care, and has more than 30,000 registered patients.
Expanding its Global Reach
Reliq has expanded its reach and geographic diversity over the last year and the company has secured pilot programs with hospitals, organizations and cities in the United States, the United Kingdom, and Canada.
One of the pilots Reliq entered was with the city of San Antonio. The company signed a $1.22 million contract to develop a white-labelled version of its platform to proactively support the health and wellness of the city’s 1.4 million residents.
In August 2016, Reliq was accepted into the United Kingdom’s National Health Service (NHS) Test Beds program and started to pilot its virtual care technology with a London-area hospital in late 2016. NHS is the largest single payer healthcare system in the world and provides coverage for more than 54 million UK residents.
In November, Reliq started to enroll patients for its pilot with Florida-based Sacred Heart Health System. The company has a five-hospital regional healthcare network that admits 30,000+ patients a year.
In November, Reliq Health Technologies also announced an agreement with Hamilton Health Sciences and McMaster University. Hamilton Health Sciences is a five-hospital network that treats over 50,000 patients and performs over 28,000 surgeries each year.
In December, Reliq starting enrolling patients for its pilot with the Feldman Institute in Baton Rouge, Louisiana. The institute is an interventional pain management clinic that performs thousands of pain management surgeries annually.
An Undervalued Opportunity
We have been favorable on Reliq Health and believe the recent developments is a testament to the company’s product and its management team. Reliq is led by a management team that has a proven track record of success and is focused on creating value for shareholders.
We continued to see upside to current levels and believe that Reliq is remarkably underappreciated. The company’s market capitalization is well below the potential monthly revenue associated with its pilot programs and we are favorable on Reliq’s long-term outlook.
Based on these facts, we believe that Wall Street has significantly undervalued Reliq’s potential and expect this to change as the company continues execute and deliver positive news to its shareholders.
This article was written by Mark Maulden for https://technical420.com/cannabis-article/reliq-health-technologies-fast-track-profitability on .
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Article source: http://www.minyanville.com/business-news/markets/articles/2524ACB-2524ACBFF-2524TWMJF-2524WEED-2524OGI-2524OGRMF/8/17/2017/id/60658