Premier Health Group Engages Reliq Health Technologies As Exclusive Technology Provider

During the last year, we’ve been closely monitoring the healthcare technology market and consider this to be an underappreciated opportunity. Demand for medical care services will increase, as the Baby Boomer generation continues to age and this creates a great opportunity for companies focused on this industry.

1 company that has been laser focused on this burgeoning opportunity is Premier Health Group Inc., (PHGI.CN) (PHGRF) through its wholly-owned subsidiary, HealthVue. This is an emerging opportunity and this provider is being closely monitored by us.

In August, Premier Health acquired HealthVue Medical Clinics and thus entered healthcare technology business and the primary care clinic. HealthVue is a group of four paperless and electronic medical record based medical clinics using a 10-year history, 22 healthcare professionals and over patients. 

During the last three years, the practices have recorded strong revenue growth (more than 25 percent on a year-over-year basis). 2018 has been a strong year so far this season for the company which has reported more than 36,000 patient visits.

HealthVue is focused on utilizing proprietary technology to provide quality healthcare through the combination of connected primary care practices with telemedicine and artificial intelligence (AI). HealthVue has an ecosystem of over patients and has plans to increase that number through expansion initiatives. The HealthVue group has a solid track record of producing value in technology and healthcare enterprises and this is an important aspect of the story.

Earlier this month, Premier Health Group announced a strategic relationship with Reliq Health Technologies Inc. (RHT.V) (RQHTF), to serve as Premier’s exclusive technology partner. Reliq is a technology firm that develops advanced mobile health and telemedicine options for the community-based healthcare market and provides Premier’s HealthVue primary care clinics using a HealthVue-branded telemedicine, remote monitoring & AI alternative for its clinical staff and more than 100,000 active patients. HealthVue expects to make the first version of the program available to their patients from the fourth quarter of 2018.

We are positive about the talents of the companies and are bullish on their growth prospects. Incorporating Reliq’s technology platform into Premier’s practices will allow HealthVue to enhance access to care and convenience for patients, and support HealthVue’s goal of increasing clinic revenues and their patient numbers. The companies will share in new clinic revenue streams.

The HealthVue patient program powered by Reliq Health’s platform will allow patients to book appointments, see their general practitioner or a specialist via telemedicine, review their own chart, chat with clinic personnel and pharmacists, refill prescriptions and share health data collected in the home with their HealthVue care staff. This is an attractive solution and we expect to see it gain traction within the healthcare marketplace that is community-based.

There are and we’re monitoring the teams execute out of here. From a geographical standpoint, this relationship supports its growth potential and enhances the reach of both companies.

A Business Worth Watching

Premier issued a update, earlier this month and we’re favorable on its own transparency. The company is well capitalized after finishing a $3.55 million financing in August. Premier Health doesn’t hold any debt and has enough capital construct practices and to make strategic acquisitions of practices and this is an important aspect of the story.

Premier Health is currently reviewing a pipeline of clinic acquisitions that were strategic and is focused on expanding its reach and scouting new locations. The company expects to close on two of those opportunities in the fourth quarter and this would be a substantial catalyst.

The relationship with Reliq Health Technologies is significant and we are positive about the growth prospects. The shares have been trending lower and have come off its highs. We’re monitoring this chance and please reach out to [email protected] to learn more

Published at Thu, 25 October 2018 12:34:42 +0000

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