Reliq Health Technologies

Reliq Health Technologies Inc (CVE:RHT) A Long-Term Play As Demand For Telemedicine Solutions Soar

Reliq Health Technologies Inc (CVE:RHT) is due for a major bounce back after hitting rock bottom. The stock has already bottomed out at the back of high turnover in traded shares. The recent bear run cannot in any way be attributed to deteriorating performance as investors are starting to take note of the strong underlying fundamentals.

Some of the catalysts poised to push the stock up the charts include the selection of the company to be an exclusive technology partner for Health Value Clinics. The company has also confirmed plans to expand its footprint in British Columbia in pursuit of new revenue streams. Reliq Health Technologies has also received new funding to support the expansion of its pilot in Sioux.

Reliq Technologies Price Analysis

Amidst the underlying solid fundamentals, the stock remains subdued close to its 52-week lows. However, recent price action activity has pointed to the possibility of the stock bouncing back. For starters, the stock has bounced back from the CA$0.25 mark to the CA$0.7 mark, as the upward momentum continues to gain pace.

Reliq Health Technologies faces immediate resistance at the $1 a share handle on further movements on the upwards. Above the CA$1 a share, the stock should be on its way to the CA$2 a share mark seen as the next resistance level. On the downside, a breach of the $0.25 mark could see the stock plunging deeper to its 52-week lows.

About Reliq Health Technologies

Reliq Health Technologies bills itself as a technology company focused on the development of innovative mobile health and telemedicine solutions. The company boasts of an iUGO Care platform that offers support care coordination as well as community-based healthcare. The platform enables the integration of wearable’s, sensors voice technology as well as intuitive mobile apps for enhancing patients to physician’s connections.

Why is Reliq Health Technologies Poised to Bottom Out?

A buildup in trading activity in recent trading sessions follows the announcement that Premier Health Group has selected Reliq Health Technologies as its exclusive technology partner. Under the terms of the agreement, the telemedicine solutions company is to provide Premier HealthVue with HealthVue-branded telemedicine solutions.

Reliq Health Technologies is also to supply remote monitoring & AI solutions to Premier HealthVue to service more than 100,000 active patients.

“Incorporating Relic’s technology platform into their clinics will allow HealthVue to improve access to care and convenience for patients, supporting HealthVue goal of rapidly increasing their patient numbers and practice revenues. Reliq and HealthVue will share in new practice revenue streams created by the implementation of this technology platform,” said CEO Lisa Crossly.

A partnership with Premier Health Groups is an important milestone as it underscores the credibility and value of Reliq’s Technology solutions. The partnership also presents an opportunity for the company to expand its footprint in British Columbia where it is now set to gain access to a broader user base.

Investors pushed the stock up the charts in recent sessions stems from the growing belief that a partnership with Premier Health Group will go a long way in strengthening the company’s revenue base. Reliq Technologies is also fresh from announcing pilot programs in Australia that validate the relevance of its telemedicine solutions.

In addition, Reliq Technologies has confirmed that a pilot program for its remote patient monitoring for diabetes with Sioux Lookout Meno Ya Wen Health Center has received a significant boost. The programmer is to be expanded thanks to new funding by First Nations and Inuit Health Branch.

“The original pilot was funded by Ontario’s Health Technologies Fund (HTF), and it is exciting to see that the Federal government also recognizes the value of providing high-quality care to these patients at home on reserve,” Crossley in a statement.

With the new funding, the company will now be able to service the needs of over 100,000 First Nations people in Ontario as well as over 600,000 individuals living across Canada. The pilot program should go a long way in validating the use of the company’s virtual care delivery model in a bid to improve health outcomes in patients.

Bottom Line

The validation of Reliq Technologies by Premier Health Group and the government of Ontario is a development poised to strengthen the stock’s sentiments in the market. Investors have already started taking note of the partnerships the company is signing for its solutions.

Expansion into Australia and British Columbia is another development that affirms the company’s long-term prospects supported a by a solid line of telemedicine solutions. That said it wouldn’t come as a surprise the stock climbing high after bouncing back after recent sell-off.

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Disclosure: We have no position in CVE:RHT and have not been compensated for this article.

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Reliq Health Technologies Inc (CVE:RHT) A Long-Term Play As Demand For Telemedicine Solutions Soar
1 Comment

1 Comment

  1. Bruce Cassells

    October 22, 2018 at 2:22 pm

    Your article fails to mention that revenues for Q3 & Q4 2018 will be zero. An unexpected update.

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