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HAMILTON, Ontario, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) ("Reliq" or the "Company"), a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, is pleased to announce that it has launched a new post-discharge program for acute care hospitals and signed new hospital clients in California, Florida and Puerto Rico. The new contracts are expected to add 5,000 new patients to the platform every month by the end of 2024.
"We are very excited to announce our new post-discharge program aimed at acute care hospitals," said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. "This new iUGO Care program supports patients who are being discharged from an acute care hospital to a wide range of care settings, from their own homes to inpatient rehabilitation, assisted living or skilled nursing facilities. Under the Centers for Medicare & Medicaid Services (CMS) Hospital Readmissions Reduction Program (HRRP), hospitals that fail to meet readmission targets can be assessed penalties equal to up to 3% of their total Medicare reimbursement for the following year, translating to millions of dollars in lost revenue. In 2021, over 96% of all Florida hospitals were assessed financial penalties due to readmission rates. According to Kaiser Health News, over 2,300 hospitals across the US will pay a total of over $320 Million in HRRP penalties in 2023 based on penalties assessed by CMS in 2022. Our clients' data shows that healthcare organizations using Reliq's iUGO Care platform have been able to drastically reduce their readmissions rates by over 90%, avoiding financial penalties and improving patient health outcomes and quality of life. This program is a win-win for hospitals, clinicians, patients, and their families."
"With iUGO Care's post-discharge program," continued Dr. Crossley, "patients receive targeted monitoring for the first 30 days after discharge to specifically prevent readmission to hospital and are then followed long-term using the iUGO Care Remote Patient Monitoring (RPM), Transitional Care Management (TCM) and Behavioural Health Integration (BHI) modules to Excellerate long-term health outcomes and prevent complications that could lead to future hospitalizations. The Company expects to add over 5,000 new patients per month to the platform by the end of 2024 through these new contracts, generating revenue of approximately $65 per patient per month at 75% gross margin."
Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq's powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN: A2AJTB.
ON BEHALF OF THE BOARD
"Dr. Lisa Crossley"
CEO and Director
For further information please contact:
Investor Relations at email@example.com
US Investor Relations Contact
Lytham Partners, LLC
New York | Phoenix
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause real and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Reliq Health Technologies Inc. (the "Company") does not intend and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. real results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
The National Hurricane Center issued its first-ever tropical-storm watch for Southern California today as Hurricane Hilary, a large and powerful Category 4 storm, barreled toward the region.
The watch, which stretches from the U.S.-Mexico border up to Los Angeles County, means that tropical storm conditions are possible within the area over the next 48 hours.
Hilary’s winds are nearing 145 miles per hour, but it is expected to weaken somewhat in the next several hours. However, it will remain a hurricane as it approaches the west coast of the Baja California Peninsula tomorrow.
The storm is predicted to make landfall sometime between tomorrow night and Sunday evening, when the most torrential rain and possible tropical storm-force winds are expected to arrive in Southern California. Weather experts forecast that it will become a tropical storm before reaching Southern California on Sunday.
Regardless of where it lands, the southwestern U.S. may be in for a challenging few days. Hilary will dump up to six inches of rain on parts of Southern California and Southern Nevada through Wednesday, and a flood watch was issued for Los Angeles and Ventura Counties, in California.
If Hilary does make landfall in California as a tropical storm, it will be the first such threat since 1939, when an unnamed tropical cyclone touched down in Long Beach and killed nearly 100 people.
For more: Track Hurricane Hilary as it approaches.
The figures remain rough estimates, U.S. officials said, because Moscow is believed to routinely undercount its casualties, and Kyiv does not disclose official figures. What is known is that the slaughter intensified this year in eastern Ukraine and has continued at a steady clip as the nearly three-month-old counteroffensive drags on.
During a summit today at Camp David, President Biden and the leaders of Japan and South Korea agreed to expand security and economic cooperation, seeking to bridge generations of friction between the two Asian powers and to forge a bulwark against China.
Biden said the three leaders had agreed to hold annual military exercises and a trilateral meeting each year to deepen their alliance. He also took pains to emphasize that the summit was not about China, a key economic partner of Japan and South Korea. Though no other course loomed larger.
Donald Trump, who is the clear front-runner for next year’s Republican presidential nomination, is planning to sit out the party’s first debate next Wednesday. While he has suggested an openness to changing his mind, the former president plans to upstage the event with an online interview with the conservative host Tucker Carlson.
Few countries cherish their soccer traditions as much as England and Spain, where many of the top professional men’s teams play. But neither country has won a Women’s World Cup. That will change on Sunday, when the two teams face off in the tournament final.
Spain, led by stars like Alexia Putellas and Aitana Bonmatí, is narrowly favored. But England proved to be composed under pressure this week in its win over Australia.
The best summer vacations involve a little relaxation and a lot of great food. But dining out can quickly add up.
An increasingly popular alternative for travelers looking to save money are hotels or rental properties with a good kitchen. Cooking while traveling can moderate food costs, allows for more comfort with dietary restrictions and grants the opportunity to demo local ingredients. Here are some tips for your next trip.
If you watch the movie “Red, White & Royal Blue,” your ears might perk up when you hear Uma Thurman’s exaggerated, almost comically syrupy, Southern drawl. Several reviewers have taken issue with it and some have called it a distraction.
But my colleague Kyle Buchanan disagrees: “‘Can something that brings us this much pleasure possibly be ‘bad’?” he asks.
As Kyle sees it, movie performances are meant to be enjoyable — and while Thurman’s portrayal of the president of the U.S. might be unrealistic, it’s also perhaps the film’s biggest joy.
Have an entertaining weekend.
...HEAT ADVISORY REMAINS IN EFFECT UNTIL 9 PM CDT THIS EVENING... ...HEAT ADVISORY REMAINS IN EFFECT FROM NOON TO 9 PM CDT THURSDAY... * WHAT...For the first Heat Advisory, heat index values up to 107. For the second Heat Advisory, heat index values up to 106 expected. * WHERE...Portions of central, northern, southern and southwest Oklahoma and northern Texas. * WHEN...For the first Heat Advisory, until 9 PM CDT this evening. For the second Heat Advisory, from noon to 9 PM CDT Thursday. * IMPACTS...Hot temperatures and high humidity may cause heat illnesses to occur. PRECAUTIONARY/PREPAREDNESS ACTIONS... Drink plenty of fluids, stay in an air-conditioned room, stay out of the sun, and check up on relatives and neighbors. Young children and pets should never be left unattended in vehicles under any circumstances. Take extra precautions if you work or spend time outside. When possible reschedule strenuous activities to early morning or evening. Know the signs and symptoms of heat exhaustion and heat stroke. Wear lightweight and loose fitting clothing when possible. To reduce risk during outdoor work, the Occupational Safety and Health Administration recommends scheduling frequent rest breaks in shaded or air conditioned environments. Anyone overcome by heat should be moved to a cool and shaded location. Heat stroke is an emergency! Call 9 1 1. &&
It seems like everybody’s talking about AI these days. And with good reason: AI, short for “artificial intelligence,” has the potential to have a huge impact on all aspects of our lives. AI–the simulation of human intelligence processes by computer systems–is a major factor in the current writers’ strike roiling the entertainment industry and holds big implications for the future of health care, finance and nearly every other aspect of human life and culture.
How it all started: AI had its origins in the 1950s, when computer scientists began to create algorithms that could perform tasks that once required humans to do, things like problem-solving and decision-making. We see AI at work whenever we call on Siri and Alexa or use facial recognition software or watch a demonstration of a self-driving car.
What the future might hold: According to the Goldman Sachs Macro team, AI adoption could create about $7 trillion in global economic growth over a 10-year period, comparable to a 7% increase in annual global GDP. In April PwC US announced plans to invest $1B over the next three years to expand and scale its artificial intelligence (AI) offerings.
Bill Gates, co-founder of Microsoft recently wrote, “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone... Entire industries will reorient around it. Businesses will distinguish themselves by how well they use it.”
Economics reporter Jeff Cox wrote, “Whether it’s personalized shopping, self-driving cars or a broad array of robotics uses for health care, gaming and finance, AI will become a factor in virtually everyone’s lives.”
As an informed investor, you may be asking yourself,
Investing in sectors such as Artificial Intelligence (AI) offers exciting opportunities for investors. However, it is crucial to understand the potential and risks associated with this rapidly evolving field. Here are some ways we explore sectors and companies before diving into AI investments.
To make informed investment decisions, it's essential to gain a comprehensive understanding of the AI industry. If you use ChatGPT or Adobe Premiere or even chatted with a chatbot at your favorite retailer, you’ve probably seen a glimpse of the future of AI. This technology will only get smarter and more robust for more industries.
Where to start? Research the current state of AI, its growth potential, and the major players in the field. Keep diversification in mind: instead of individual company names, explore the diverse applications of AI across sectors like healthcare, finance, autonomous vehicles, and more. This knowledge will help you identify investment prospects.
Investors must carefully assess their investment time horizon and risk tolerance. AI is an evolving field with immense growth potential, but it also carries inherent risks. Investors with a longer time horizon may be able to capitalize on the transformative nature of AI and potentially reap future rewards over the years.
Investing in AI requires a long-term perspective. The field is still evolving, and its full potential is yet to be realized. Understand that short-term fluctuations are common, and it's crucial to have patience and a willingness to stay invested for the long haul.
While AI offers exciting opportunities, it also comes with uncertainties, regulatory challenges, and ethical considerations. Investors must gauge their comfort level with these risks and ensure their investment aligns with their risk tolerance. Diversify your portfolios and speak with us to make informed decisions based on their specific investment profile.
When considering AI investments, assess whether the company is primarily focused on AI or if it merely incorporates AI as a small part of its business. Companies with a strong commitment to AI research, development, and implementation may offer better prospects for investors. Look for companies that prioritize AI-driven innovation.
In the competitive AI landscape, it's crucial to identify companies with a distinct competitive advantage. Seek out organizations with proprietary algorithms, valuable datasets, or strong partnerships. Such factors contribute to a company's differentiation and unique capabilities, positioning them for long-term success.
Analyze Financial Performance: Evaluate the financial health and growth potential of AI companies. Consider factors like revenue growth, profitability, cash flow, and balance sheet strength. Investing in companies with a solid financial foundation is crucial for long-term success and stability.
Open Ai Inc. chief Executive Officer Sam Altman, who brought us ChatGPT even shared before Congress his concerns and said that companies should have a “combination of licensing or registration requirements.” Stay informed about the regulatory environment surrounding AI technologies. Understand the potential implications of privacy, security, and ethical concerns. Companies that prioritize compliance and address these issues effectively are more likely to thrive in the AI space. Stay attuned to evolving regulations and their impact on AI companies. (source: Bloomberg)
The availability of AI talent is crucial for successful implementation and innovation. Evaluate the company's access to AI experts and its ability to attract and retain skilled professionals. Human capital is a key differentiator in the AI space, and companies with strong teams and expertise are more likely to excel.
Consider the market adoption potential of AI solutions offered by the company. Look for indications of widespread acceptance and scalability. Companies that can leverage their AI offerings across various industries may have significant growth prospects.
To manage risk, consider diversifying your AI portfolio. Invest in multiple AI-related companies or exchange-traded funds (ETFs) to spread the risk. Diversification helps mitigate the impact of any individual company's performance on your overall investment returns.
Investing in AI presents unique opportunities and challenges. By conducting thorough research, understanding the market, evaluating companies' focus, and considering regulatory aspects, investors can make informed decisions. Adopting a long-term perspective, assessing financial performance, and diversifying your portfolio will contribute to a well-rounded investment strategy. Stay informed about the latest developments in the AI sector and seek professional advice if needed. Remember, investing in AI involves risks, but with careful consideration, it can be a rewarding venture into the future of technology-driven innovation.
The information provided here is for educational purposes only and should not be considered as financial advice. Always conduct thorough research and consult with an experienced financial advisor before making investment decisions. Here are some first steps to take before adding AI to your portfolio:
MONTREAL, Aug. 23, 2023 /CNW/ - Dialogue Health Technologies Inc. (TSX: CARE) ("Dialogue" or the "Company"), Canada's premier health and wellness virtual care platform, announced today that, further to its press release dated July 26, 2023, and in connection with the proposed acquisition of the Company by Sun Life Financial Inc. ("SunLife") pursuant to terms of the arrangement agreement dated July 25, 2023 among Dialogue and Sun Life (the "ArrangementAgreement") by way of a statutory plan of arrangement under the Canada Business Corporations Act, the special meeting of the shareholders of Dialogue (the "Shareholders") to consider and vote upon a special resolution (the "Arrangement Resolution") approving the proposed arrangement ("Arrangement") will be held virtually on September 19, 2023 at 10:00 a.m. (Montreal time) (the "Meeting").
The Meeting will be held in a virtual only format, which will be conducted via live audio webcast online at web.lumiagm.com/473975895; password: dialogue2023 (case sensitive). Shareholders will have an equal opportunity to attend the Meeting online regardless of their geographic location.
To attend and vote online, Shareholders will need to carefully follow the instructions, which are found in Dialogue's notice of special meeting of Shareholders and management proxy circular dated August 17, 2023 in respect of the Meeting ("Circular"), on the applicable proxy and voting instruction forms. If you have any questions or require assistance in completing your form of proxy, voting instruction form or letter of transmittal, please contact the Company's transfer agent and depositary, Computershare Investor Services Inc., at 1-800-564-6253 or 514-982-7555 or via their website at www.computershare.com/service.
Meeting Materials. In connection with the Meeting, Dialogue's notice of special meeting, Circular and related forms have been filed under Dialogue's profile on SEDAR+ at www.sedarplus.ca and are being mailed to Shareholders.
The Arrangement. Under the terms the Arrangement Agreement, Sun Life proposes to indirectly acquire all of the issued and outstanding common shares of the Company (the "CommonShares"), other than those owned by Sun Life Assurance Company of Canada ("SLA") and certain Common Shares owned by members of Dialogue management (collectively, the "Rolling Shareholders") for $5.15 in cash per Common Share (the "Consideration").
Recommendation of the Board. The board of directors of Dialogue (the "Board") (with interested and non-independent directors abstaining from voting), based on the unanimous recommendation of a committee of independent directors, UNANIMOUSLY approved the entering into by Dialogue of the Arrangement Agreement. The Board determined, after receiving financial and legal advice, that the Arrangement is in the best interests of the Company and is fair to the Shareholders (other than SLA and the Rolling Shareholders). The Board recommends UNANIMOUSLY that Shareholders vote IN FAVOUR of the Arrangement Resolution.
Shareholder Support. On July 25, 2023, concurrently with the execution of the Arrangement Agreement, Portag3 Ventures LP, Portag3 Ventures II Investments LP and WSC IV LP, collectively holding approximately 20.9% of the outstanding Common Shares, and each of the directors and executive officers of Dialogue entered into voting and support agreements pursuant to which they agreed to vote their Common Shares in favour of the Arrangement Resolution. Consequently, shareholders holding (i) approximately 52.2% of the Common Shares eligible to vote in the "Special Resolution Vote" described below (including the Common Shares held by SLA) and (ii) approximately 30.5% of the Common Shares eligible to vote in the "Minority Approval Vote" described below have agreed to vote in favour of the Arrangement Resolution.
The Arrangement Resolution must be approved by (i) at least two-thirds of the votes cast by Shareholders voting in person or by proxy at the special meeting of the Shareholders, voting together as a single class (the "Special Resolution Vote"), and (ii) a simple majority of the votes cast by the Shareholders (other than SLA and the Rolling Shareholders) voting in person or by proxy at the special meeting of the Shareholders, voting together as a single class (the "Minority Approval Vote"), as further described in the Circular.
Your vote is important. Whether or not you plan to attend the Meeting, we encourage you to vote promptly.
The Arrangement is expected to close in 2023, subject to obtaining the required Shareholder, court and regulatory approvals, and the satisfaction of other customary closing conditions.
This press release includes "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements with respect to the rationale of the Board for entering into the Agreement, the terms and conditions of the Agreement, the premium to be received by Shareholders, the expected benefits of the Arrangement, the anticipated timing and the various steps to be completed in connection with the Arrangement, including receipt of Shareholder, court and regulatory approvals, and the anticipated timing for closing of the Arrangement.
In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans" "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Dialogue as of the date of this press release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause real results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, or at all, the possibility of the Agreement being terminated in certain circumstances, the ability of the Board to consider and approve a superior proposal for the Company, and the other risk factors identified under "Risk Factors" in Dialogue's latest annual information form and management's discussion and analysis for the year ended December 31, 2022, and in other periodic filings that Dialogue has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under Dialogue's SEDAR+ profile at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect Dialogue. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
Although Dialogue has attempted to identify important risk factors that could cause real results to differ materially from those contained in forward-looking statements, there may be other risk factors not currently known to us or that we currently believe are not material that could also cause real results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as real results and future events could differ materially from those anticipated in such information. Accordingly, you should not place undue reliance on forward-looking statements. The forward-looking statements represent Dialogue's expectations as of the date of this press release (or as the date it is otherwise stated to be made) and are subject to change after such date. However, Dialogue disclaims any intention and undertakes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws. All of the forward-looking statements contained in this press release are expressly qualified by the foregoing cautionary statements.
Incorporated in 2016, Dialogue is Canada's premier virtual healthcare and wellness platform, providing affordable, on-demand access to quality care. Through its team of health professionals, it serves employers and organizations who have an interest in the health and well-being of their employees, members and their families. Dialogue's Integrated Health Platform™ is a one-stop healthcare hub that centralizes all programs in a single, user-friendly application, providing access to services 24 hours per day, 365 days per year from the convenience of a smartphone, computer or tablet. Dialogue is the first virtual care provider to receive the Accreditation Canada Primer award, a third-party validation of safety and high-level quality of care. For more information, please visit the Company's website at www.dialogue.co.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2023, Sun Life had total assets under management of $1.37 trillion.
Sun Life trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
SLA is a wholly-owned subsidiary of Sun Life. SLA is organized under the Insurance Companies Act (Canada).
SOURCE Dialogue Health Technologies Inc.
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