PALM BEACH, Florida, November 16, 2017 —
According to a report issued earlier this year by Grand View Research, Inc. (GVR), the growing telemedicine market is expected to top $113 billion by 2025 with a CAGR of 18%. Many believe the rising occurrences of chronic conditions, as well as the increasing demand for self-care and remote monitoring, are significant factors driving the growth of the industry. Various healthcare systems are attempting to reduce both the number of hospital visits and the length of stay in hospital, leading to growing trend for patients to be monitored in their home environment. According to GVR, virtual medicine and the rising demand for centralization of healthcare are expected to save on cost incurred, which is one of the critical success factors attributing for the growth of telemedicine market. Although the onset of growth was initially slow, the current adaptation rate and rising demand are adding to the lofty growth forecasts for the sector. Active companies in the healthcare industry include: Reliq Health Technologies Inc. (OTC: RQHTF) (TSX-V: RHT), Teledoc Inc. (NYSE: TDOC), Evolent Health Inc. (NYSE: EVH, eWellness Healthcare Corporation (OTC: EWLL), WebMD Health Corp. (NASDAQ: WBMD).
Reliq Health Technologies Inc. (OTCQB: RQHTF) (TSX-V: RHT.V), a technology company focused on developing innovative mobile health (mHealth) solutions for Community-Based Healthcare, is pleased to announce that it now has over 2,000 paid subscribers using its iUGO Care chronic care management, remote patient monitoring and telemedicine platform, representing recurring monthly revenue of over US$100,000/month.
“We are excited to announce that we now have over 2,000 patients live on our iUGO Care platform,” said Dr. Lisa Crossley, CEO of Reliq Health. “The onboarding of patients is starting to accelerate as we move forward with our roll out to over 40,000 patients in Texas. We expect to continue to enrol more than 1,000 new patients per month through 2018 with our two contracts with Paz Home Health, LLC (Pharr, TX) and Rio Grande Valley Health Alliance, LLC (McAllen, TX), which together are worth over US$26 Million annually in recurring revenue at full deployment. We are proud to offer a solution that comprehensively and cost-effectively addresses the needs of front line care providers in the community and the more than 37 Million Medicare and Medicaid patients who have two or more chronic conditions.” Read this full release and recent news releases for Reliq Health Technologies at http://marketnewsupdates.com/news/rqhtf.html
Reliq is also pleased to announce that it has launched a new version of its corporate website, incorporating improved functionality and expanded content. The site will allow visitors to gain a comprehensive understanding of Reliq's business model and provide an industry-leading resource for information on the Community Healthcare market.
Reliq's iUGO Care digital health solution provides high quality virtual care in the community by creating a 'virtual hospital ward' within the patient's home, automatically collecting vital signs and tracking medication adherence. iUGO Care's interactive voice technology provides patients with audible alerts and reminders to take their medications, collect their vitals using Bluetooth-enabled monitoring devices and perform prescribed rehab or fitness activities. iUGO Care's two-way voice hub provides voice-activated access to patient education content, empowering patients and family members to proactively manage complex chronic conditions. Reliq's iUGO Care cloud platform instantly alerts the clinical care team if a patient develops key warning signs, allowing clinicians to intervene before a health crisis occurs and preventing costly and disruptive hospital readmissions and ER visits.
In other Telehealth – Healthcare Industry developments:
Teledoc Inc. (NYSE: TDOC) is the largest and most trusted telehealth provider in the world. Recognized by MIT Technology Review as one of the '50 Smartest Companies', Teladoc is forging a new healthcare experience with better convenience, outcomes and value. Teledoc recently announced it will host its inaugural Investor and Analyst Day on Monday, November 20, 2017, in New York City. Key industry insights and highlights of several business segments will be shared by members of the senior management team who will join Teladoc chief executive officer, Jason Gorevic, and chief operating officer and chief financial officer, Mark Hirschhorn for the half day program. Teladoc's Investor Day will be accessible via a live audio webcast at http://ir.teladoc.com/news-and-events/events-and-presentations/. A replay will be available via webcast for on-demand listening shortly after the completion of the meeting, at the same web link, and will remain available for approximately 90 days.
Evolent Health Inc. (NYSE: EVH) closed up at $10.75 on Wednesday with over 1.77 million shares traded by the market close. The company recently announced that Chief Executive Officer and Co-Founder Frank Williams and Chief Financial Officer Nicky McGrane will participate in an upcoming investor conference. Mr. Williams and Mr. McGrane will present at the 29th Annual Piper Jaffray Healthcare Conference in New York on Tuesday, November 28, 2017 at 3:30 p.m. EST. A live audio-only webcast and related presentation materials will be available on the investor relations section of Evolent's website at http://ir.evolenthealth.com/ .
eWellness Healthcare Corporation (OTCQB: EWLL) is the first physical therapy telehealth company to offer insurance reimbursable real-time distance monitored treatments. eWellness Healthcare announced earlier in the week that it has withdrawn it's application for a 1:12 reverse stock split. The initial reason for ratifying and approving the Reverse Split was to best position the company for possible up-listing from the OTCQB to the NASDAQ. Based upon recent and anticipated business developments our Board of Directors made the determination on November 13, 2017 not to proceed with the reverse stock split because an up-listing to the NASDAQ may be achieved after the fiscal year ending December 31, 2017 without a reverse stock split. While there can be no assurance that up-listing on the NASDAQ will be achieved, the company has informed FINRA that it was withdrawing the application and we're canceling the pending 1:12 Reverse Split.
WebMD Health Corp. (NASDAQ: WBMD) closed up slightly on Wednesday at $66.48 with a volume over 3.2 million shares traded on the day. WebMD Health Corp. provides health information services to consumers, physicians and other healthcare professionals, employers, and health plans through its Websites, mobile platforms, and health-focused publications in the United States. On September 15, 2017, Internet Brands, a KKR portfolio company, announced the successful completion of its acquisition of WebMD. This is a significant milestone for WebMD as we turn our full attention to bringing the benefits of this combination to life for our users, customers, community members, partners and colleagues around the world. Internet Brands is strongly committed to strengthening and growing WebMD's efforts to deliver trusted health information, innovative products, and value to consumers, healthcare professionals, customers and partners. We look forward to the many opportunities that lie ahead.
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