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During the course of the last year, we highlighted Reliq Health Technologies Inc. (RHT.V) (RQHTF) as an undervalued and underappreciated investment opportunity.

While we saw significant upside potential due to the company’s numerous pilot programs, the market did not and the shares traded sideways to down for most of the year.

The last month has been a completely different story and shares of Reliq have rallied more than 30%.

Although this rally has been significant, we continue to see substantial upside potential to current levels.

First Inning of a Multi-Decade Growth Cycle

In early August, Reliq reported a major milestone after its remote patient monitoring and telemedicine solution with Paz Home Health LLC in Texas went live.

A few weeks later, the healthcare technology company announced another milestone after going live with its remote patient monitoring, care coordination and telemedicine platform with Rio Grande Valley Health Alliance.

August was a banner month for Reliq and these developments have the firm positioned for incremental growth. The company has contracts in place with a 12,000-patient home care agency and a 36,000 patient Accountable Care Organization (ACO) in Texas that are expected to generate between $17 and $23 million in recurring annual revenue in 2018.

Rio Grande Valley Health Alliance: A Major Catalyst

The agreement with Rio Grande Valley Health Alliance is a very attractive opportunity and should become a significant revenue stream for Reliq.

Rio Grande Valley Health Alliance is an ACO comprised of 17 primary care physicians working with Medicare to provide better-coordinated care to patients. The ACO is made up of 15 independent practices focusing on primary care and has more than 30,000 registered patients.

Reliq has already been enrolling the first patients and expects to add 500+ patients to the platform each month. Once the platform is at full deployment. Reliq will be generating over $20 million in recurring annual revenue.