NEW YORK, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: CVS Health Corp. (NYSE: CVS), Reliq Health Technologies (OTC: RQHTF) (TSX.V: RHT), Teladoc Health (NYSE: TDOC) and WELL Health Technologies (TSX: WELL) (OTC: WLYYF).
Reliq Health Technologies (OTC:RQHTF) is now at an inflection point for explosive revenue growth and profitability shared CEO Lisa Crossley during a recent presentation at Wall Street Reporter’s NEXT SUPER STOCK livestream. RQHTF’s iUGO telehealth remote patient monitoring platform has gained significant traction over the past 6 months, and now has 200,000 patients under contract to be onboarded over the next 18-24 months - which represents over $120 Million in recurring annual revenue at full deployment.
RQHTF has just turned the corner to profitability and revenues are expected to reach $2 million per month revenues, hitting a $24 million run rate by the end of December - and keep increasing as more contracted patients are onboarded. Lisa added that RQHTF is now starting to throw off significant cash flow, enabling the company to fund growth internally, without the need for capital raises in the near future. A NASDAQ uplisting remains a possibility for 2022.
Lisa explained how new patient contract growth is now “snowballing” - powered by expanded medicare and medicaid coverage and reimbursement amounts for virtual care services like RQHTF provides. RQHTF’s powerful iUGO telemedicine platform supports care coordination and community-based virtual healthcare, allows complex patients to receive high quality care at home, improving health outcomes, 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.
CVS Health Corp. (NYSE: CVS) CEO Karen Lynch: “CVS is Redefining Health Experience in a Digital World”
“... Our results show we are providing superior value by creating an integrated health care model that is centered around the consumer. Our unparalleled capabilities, reach and relationship with customers uniquely positions us to support them throughout their lifetime... It is clear that consumers want convenience, transparency, choice and control over their health care. That is why we are engaging consumers in new and different ways by working to meet their health needs in the community, in the home and virtually.”
“We are a company focused on delivering the most convenient connected experiences for our customers across our CVS Health digital assets. Our ability to redefine the health experience in an increasingly digital and hybrid world, combined with our vast health assets and understanding of consumers' health, uniquely positions us for growth... We saw a more than 80% increase in visits to our flagship digital properties year-over-year. Growth was primarily driven by engagement in our expanded set of digital health services, such as COVID testing, vaccinations and Omni-channel pharmacy…”
“We are expanding access to care through our digital and virtual channels. We launched a digital-first primary care model that helps consumers navigate the best site of care for their health needs. And lastly, we are also harnessing technology such as AI, machine learning services and natural language processing to simplify our process and optimize our cost structure...”
Teladoc Health (NYSE: TDOC) CEO Jason Gorevic: “Teladoc is Leading Digital Transformation of Healthcare”
“... Strong momentum across our channels and geographies gives us the confidence and visibility to increase our full year revenue guidance to $2.0 billion to $2.025 billion. Teladoc's aim is to provide whole-person virtual care. And during the second quarter, we continued to demonstrate progress on achieving our goal of completely reimagining the health care experience... The number of members enrolled in the Livongo suite of products grew 45% year-over-year to 715,000. Rather than focus on one particular disease, our approach is to treat the whole person in an integrated manner, which is important given that over 40% of adults in the U.S. are living with multiple chronic conditions.”
“... As a result of this approach, we continue to drive significant growth in multi-program enrollment. Over 20% of our chronic care members are now enrolled in more than one program, up from 6% in the second quarter of last year. The growth in chronic care members, combined with the greater number of individuals enrolled in multiple programs, such as members enrolled in both our diabetes and hypertension programs, resulted in a 60% year-over-year increase in the total number of chronic programs in which our members are enrolled...Most importantly, our services are driving better outcomes. For example, in a recent survey of over 2,000 consumers of our virtual mental health services, more than 90% of those who sought care experienced improvement, with nearly 40% experiencing a significant breakthrough during treatment...”
“... We regard ourselves, aspirationally, as the Berkshire Hathaway tech-enabled health care. Much like Berkshire Hathaway, our goal is to make investments in highly successful and resilient companies run by top-notch management teams that have a superior track record of delivering results. The main difference here is that Berkshire, has a very wide mandate and ours is very much focused on the theme of tech-enabled healthcare, as we see this as a pivotal time, where digitization and modernization are occurring in one of the largest sectors in the world...”
“... WELL’s goals for 2021: One, is to drive organic growth across all our business units and again, using the opportunity to cross-fertilize and leverage new opportunities through the network effects brought about by our growing network. Two, continue to follow a very disciplined acquisition and capital allocation strategy. Three, increase EBITDA throughout the year. Four, increase operating cash flows through acquisitions, optimizing costs and digitizing clinical assets. And five, increasing our market share of digital health and virtual care-related products and programs.
“Our outlook remains very positive across all our business units. We continue to have approximately 9 executed LOIs signed and pending for execution. The value of these LOIs when combined with our existing deals propels us to well over $400 million in revenue and over $100 million in EBITDA. Given the strong scale, WELL continues to seriously evaluate the prospects and feasibility of a U.S. IPO in the next few months...”
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