VANCOUVER, British Columbia and LAS VEGAS, June 12, 2024 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“Hydreight” or the “Company”) (TSXV:NURS)(OTCQB:HYDTF)(FSE:SO6), a mobile clinical network and medical platform which enables flexible, at-home medical services across 50 states in the United States, is pleased to announce it has added another national wellness medspa franchise using its white label solution. The all-in-one solution is designed to help brick-and-mortar locations provide medical services to clients in compliance with state healthcare regulations.
Hydreight’s white label solution provides an integrated, turnkey platform and the framework for business to provide in-person medical services, supported by technology infrastructure, connection to an independent doctors’ network, and a pharmacy network through its medical partner. The Company has secured three national medical spa partners with collectively almost 700 locations Sold and 140 opened across the United States. Hydreight charges the franchises a licensing fee per location to access its network and takes a percentage fee from every mobile service facilitated through its platform. These brick-and-mortar businesses must use Hydreight’s medical network’s pharmacy to order products.
Hydreight’s newest partner is a growing wellness spa with multiple locations across the United States. The locations will use Hydreight’s proprietary technology to provide IV drip therapy, aesthetics, GLP-1 and NAD+ services. The integrated solutions will also assist the wellness franchise to continue expanding its footprint with new locations opening next year. Hydreight is also working on a Point of Sale and Payment processing solution for all brick and mortar clients and is expecting to release that module in Q3, 2024.
The Medical Spa market in the U.S. is estimated at US$6.1 Billion in the year 2023. Hydreight has become the end-to-end platform of choice for all medspas, enabling them to unlock their mobile services with full compliance. Additionally, it manages all telemedicine, pharmacy connection and ordering, booking, scheduling, and patient engagement needs, with full integration into independent doctor and pharmacy networks.
Whitelabel Pharmacy orders in a glance:
| Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | |||||||||
| Number of Locations | 16 | 29 | 41 | 59 | 69 | 79 | 86 | 107 | ||||||||
| Total number of Orders | 78 | 227 | 334 | 513 | 812 | 935 | 1127 | 1352 | ||||||||
| Total medication ordered USD** | $104,952 | $162,376 | $291,950 | $425,961 | $663,610 | $808,173 | $936,432 | $1,072,455 | ||||||||
**Total White-Label medication ordered less amounts attributed to shipping. These figures are unaudited and approximate.
Shane Madden, CEO of Hydreight commented, “As we continue to grow and evolve our platform, we’ve recognized that there are additional white label opportunities to utilize and tap into our platform and network. Post Covid, as rules and regulations have tightened, it has become increasingly hard for brick-and-mortar wellness spas to provide some services without a medical professional or telemedicine technology to see a doctor. Our white label division has quickly become another revenue bucket that we will continue to focus on growing and our team continues to review these opportunities and onboard new partners. Now we are the platform of choice for our Nurse Network, VSDHONE D2C platform and all national brick and mortar franchises.”
To grow the division, the Company plans to build a sales team to direct sell to these businesses and will continue focusing on increasing and adding more partners using its white label technology.
About Hydreight Technologies Inc.
Hydreight Technologies Inc. is building the largest mobile clinic network in the United States. Its proprietary, fully integrated platform hosts a network of over 2,500 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 though its medical network has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network that provides services in over 650 cities and growing.
On behalf of the Board of Directors
Shane Madden
Director and Chief Executive Officer
Hydreight Technologies Inc.
Contact
Email: ir@hydreight.com;
Telephone: (480) 790 6886
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, 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”, “estimate”, “expect”, “Approximately” or similar expressions. * Numbers of franchise sold units are based on the franchise's management team.
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