Telemedicine Industry's Booming Growth Fueled by Technological Progress and mHealth Advancements

September 19, 2017

Marketnewsupdates.com News Commentary

PALM BEACH, Florida, September 19, 2017 /PRNewswire/ --

Telemedicine innovative solutions continue to rapid expand in several healthcare arenas such as primary health care, psychiatry, genetics, radiology and so much more. A few major driving forces for the telemedicine market include increasing aged population, rising cost of healthcare, rising prevalence of chronic diseases. Advancing companies in the industry include: Reliq Health Technologies Inc. (OTC: RQHTF) (TSX-V: RHT), Surgery Partners Inc. (NASDAQ: SGRY), Community Health Systems Inc. (NYSE: CYH), Tenet Healthcare Corp. (NYSE: THC), Abaxis Inc. (NASDAQ: ABAX).

Reliq Health Technologies Inc. (OTCQB: RQHTF) (TSX-V: RHT.V), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-based Healthcare, is pleased to announce that it has received the first payment of US$200,000 from NextGen Applications LLC of San Antonio, TX per the contract between Reliq and NextGen. The contract, whose total value is $1.22 Million USD, provides NextGen with professional services and a limited license to Reliq's proprietary iUGO Health platform, specifically for the development of a consumer focused mobile health app (the "mTelecare App"), providing service to the greater San Antonio area before expanding elsewhere throughout the U.S. Read this full release and recent news releases for Reliq Health Technologies at http://marketnewsupdates.com/news/rqhtf.html.

"We are excited to be part of NextGen's initiative to improve health outcomes and enhance access to care," said Dr. Lisa Crossley, CEO of Reliq Health. "Our virtual care platform uses a high tech, low touch approach to provide high quality healthcare in the home while reducing the cost of care delivery. Working in conjunction with NextGen Applications, we will be able to leverage our existing platform to create a customized mobile health app that will allow the residents of San Antonio and elsewhere to proactively manage their own health."

"NextGen's partnership with Reliq Health will allow us to utilize their existing mHealth platform to provide a novel, innovative mobile healthcare solution to the citizens of San Antonio and surrounding area," said a spokesperson of NextGen Applications. "The resulting mTelecare mobile app will provide a telemedicine platform that connects patients to doctors and nurses anywhere where there is internet access. mTelecare will support secure video consults for patients with doctors and nurses, providing patients with professional care from the comfort of their own home. The mTelecare app will also provide automated prescription refills, search tools for healthcare services, a personalized health calendar with push notifications, reminders and a suite of billing and payment tools. mTelecare will provide greater access to healthcare, while at the same time reducing healthcare costs."

In other Healthcare Industry developments: 

Surgery Partners Inc. (NASDAQ: SGRY) recently announced that it has successfully completed its previously announced acquisition of National Surgical Healthcare ("NSH"), an owner and operator of surgical facilities in partnership with local physicians. On May 9, 2017, Surgery Partners announced a definitive merger agreement under which Surgery Partners would acquire NSH from Irving Place Capital for approximately $760 million. The combination of Surgery Partners and NSH creates an enterprise with 125 surgical facilities across 32 states, with a strong presence in musculoskeletal programs, including orthopedics, pain and spine. In addition, the combined company operates a network of over 5,000 physicians and ancillary services, resulting in a diversified surgical provider. "With the addition of National Surgical Healthcare, Surgery Partners has strengthened its position as the nation's largest independent provider of outpatient surgical services. This transaction also enhances our focus on musculoskeletal specialties, where we anticipate significant growth as commercial payors and Medicare look to transition more procedures to the outpatient setting," said Mike Doyle, Chief Executive Officer of Surgery Partners.

Community Health Systems Inc. (NYSE: CYH) announced in late August that subsidiaries of the Company have completed the sale of two Washington hospitals, 214-bed Yakima Regional Medical & Cardiac Center in Yakima and 63-bed Toppenish Community Hospital in Toppenish, to Regional Health. The effective date of the transaction is September 1, 2017. The two hospitals included in this transaction are part of the 30 planned hospital divestitures discussed on the Company's second quarter 2017 earnings call.

Tenet Healthcare Corp. (NYSE: THC) and Paladin Healthcare at the beginning of this month announced that they have entered into a definitive agreement for the sale of Tenet's Hahnemann University Hospital, St. Christopher's Hospital for Children and other related operations in Philadelphia, including Tenet-owned physician practices, to American Academic Health System, LLC (AAHS), a newly formed affiliate of Paladin Healthcare. The transaction is expected to be completed early next year, subject to regulatory approvals and other closing conditions. AAHS is a new company formed by Paladin Healthcare to own and operate academic medical centers and general acute care hospitals across the country.

Abaxis Inc. (NASDAQ: ABAX) closed down slightly on Monday at $44.07 but was up slightly in afterhours trading after the markets closed for trading. Abaxiis a worldwide developer, manufacturer and marketer of portable blood analysis systems that are used in a broad range of medical specialties in human or veterinary patient care to provide clinicians with rapid blood constituent measurements.  

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