VANCOUVER, British Columbia and LAS VEGAS, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“Hydreight” or the “Company”) (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6), a rapidly growing mobile clinical network and medical platform and VSDHOne, its innovative telehealth and e-commerce platform developed in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), today announced the launch of a D2C Digital Health Accelerator program. This initiative will invest up to $10 million in the form of cash, a comprehensive suite of VSDHOne resources, services and/or company shares to support emerging healthcare brands poised to improve patient care across the United States. This program directly addresses the massive opportunity in the US healthcare system, projected to reach $7.2 trillion by 2031, according to the Centers for Medicare & Medicaid Services (CMS).
What is VSDHOne?
VSDHOne provides a comprehensive telemedicine platform that empowers businesses, including MedSpas, health and wellness entrepreneurs, retailers, and pharmaceutical brands, to create D2C healthcare solutions in days rather than months. The purpose of launching VSDHOne is to make it easy for any existing brick and mortar or individuals to launch a direct to consumer healthcare brand in a few weeks without worrying about compliance, doctor network, telemedicine and ecommerce Technology, Medical direction and oversight, Pharmacy network, and a medical legal framework in all 50 States.
With the marriage of Virtual and at facility healthcare features, companies can expand beyond their current Bricks and Mortar solutions.
Accelerating Growth with Comprehensive Support
The accelerator program is designed to empower businesses offering treatments and therapies directly to patients, including:
Skincare Treatments: Acne and anti-aging solutions
Hair Loss Treatments
Sexual Health: Hormone Replacement Therapy (TRT), peptides, Sermorelin
GLP-1 Weight Management: Treatments for obesity and weight management
Genetic Testing
Birth Control Options
Oral GLP-1 Therapies
NAD+ Nasal Spray: For anti-aging and energy
Longevity-focused solutions
Addressing the Need
The US healthcare system is ripe for innovation. Studies have shown significant inefficiencies, including:
Approximately 50% of care delivery is inefficient (source: Deloitte)
Administrative costs account for 25% of total healthcare spending compared to just 8% in peer countries (source: JAMA)
40% of Americans delay or forgo care due to cost or accessibility barriers (source: KFF)
Hydreight can tackle these issues and promote significant change in the healthcare industry by utilizing the VSDHOne platform to equip digital health businesses.
Accelerating Growth with Comprehensive Support
Selected companies will receive a comprehensive suite of resources to fuel their growth, including:
Funding: A combination of services, cash, and stock to support expansion.
VSDHOne Platform Access: Leverage the full capabilities of the VSDHOne platform, including telehealth infrastructure, e-commerce solutions, and nationwide compliance.
Marketing Support: Legitscript Certifications and Expert guidance and resources to amplify brand reach and customer acquisition.
Onboarding and Integration: Seamless integration with the VSDHOne platform and pharmacy.
Medical Direction and Doctors Network: Access to a nationwide network of physicians, and Healthcare professionals for Medical Directions and Consults
Eligibility Criteria
To qualify applying for the accelerator program, companies must meet the following criteria:
Minimum Revenue: $750,000 USD in the last 12 months
US-Based Operations
Legal Compliance: All products and services must be legally compliant with US regulations.
Platform Migration: Commitment to migrating operations to the VSDHOne platform and pharmacy.
"We are thrilled to launch this accelerator program to empower the next generation of digital health innovators," said Shane Madden, CEO of Hydreight. "By providing comprehensive support and resources, we aim to accelerate the growth of these companies and expand access to treatments for patients across the country. That will also help with our goals and targets with VSDHOne revenue and number of orders"
How to Apply
Interested companies are invited to submit their proposals and business information to VSDHOne@hydreight.com
Upcoming Webinar:
Hydreight's senior management, Medical teams and Legal counsel will discuss VSDHOne's unique national medical platform structure and how it is a turnkey digital health whitelabel platform that allows businesses to operate compliantly and seamlessly in all 50 States, no operational needs and creates a significant competitive advantage (MOAT) for Hydreight in the rapidly evolving U.S. healthcare market, valued at $4.9 trillion in 2023 (source: CMS.gov).
Dr. Joseph Palumbo, Chief Medical Officer and Board Member
Dr. Lindsey Urbatchka, Doctor of Pharmacy
Brigid Maloney, Partner and Co-Leader of Lippes Mathias Law’s Health Law Practice, Legal Counsel
During the webinar, we will highlight how the VSDHOne platform’s fully compliant infrastructure enables us to streamline operations, empower medical professionals, and provide exceptional value to clients while strengthening Hydreight’s position as a leader in the digital healthcare space.
They will also cover,
50 State Physician coverage built into our model
CPOM, an overview and understanding that in 30 of the 50 States this Law prevents individuals or businesses in getting into the Business of Healthcare
The Mobile Healthcare industry and the level of oversight and structure we have introduced
The 50 state Pharmacy challenge and our unique solutions
Pharmaceutical landscape and upcoming challenges and our advantages
and more
On behalf of the Board of Directors
Shane Madden Director and Chief Executive Officer Hydreight Technologies Inc.
Hydreight Technologies Inc. is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform hosts a network of over 2500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network.
About Victory Square Technologies Inc.
Victory Square is a Venture Builder that provides investors a liquid way to invest in early-stage technology companies without buying a venture fund that requires accredited investor status or multi-year commitments.
A diverse portfolio of 25+ innovative companies from around the world (founders come from: Ireland, Sri Lanka, Bulgaria, Australia, India, Brazil, the Middle East and North America)
The Victory Square business model is to buy, build and invest in early stage tech companies. We spend upwards of 48 months with those companies until they're ready to spin-off or stand on their own. There are a couple of unique elements to our business model…
We have unparalleled access to startups through our internal incubator and International network with over 250+ founders, investors, tech accelerators and venture capital firms from more than 60 countries.
Second, our management team and advisors are actively involved in our investments from incubation through monetization, providing them with financial, operational, and strategic support to scale globally.
We drive value by monetizing investments and reinvesting the gains in new innovations. The strategy was to build a self-sustaining business.
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, path to profitability, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “aim”, “estimate”, “projecting”, “expect” or similar expressions and includes information regarding expectations for the Company's growth, VSDHone’s number of licenses and orders, growth and company’s growth projections in 2025.
All applications for the health accelerator program will be reviewed, and approval will be based on the evaluation of the company’s management and technical team. Meeting the eligibility criteria does not guarantee acceptance into the program.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company’s shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
