VANCOUVER, British Columbia, July 11, 2024 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that gives investor access to a portfolio of 25+ innovative companies from around the world in a single stock, is pleased to share that its portfolio company - Hydreight Technologies Inc. (“Hydreight” or the “Company”) ( TSXV: NURS )( OTCQB: HYDTF )( FSE: SO6 ), a fast-growing mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce a partnership formed with a National Laboratory to expand its “At-Home Testing” Solution in all 50 States by Q4, 2024. This partnership was finalized on July 9, 2024.
Subscribers and Nurses on Hydreight’s platform can start offering at-home lab tests spanning a range of general wellness, nutrition, heart health, blood sugar, sexual health, thyroid, inflammation and will include chronic care management and drug testing by the end of the year.
After ordering the test online and paying up front, a nurse would come to the consumer's location to administer the test and ship back the sample collection to the National Laboratory partner. Within a few days, the consumer can access a breakdown of their results in Hydreight’s app and for certain conditions may be connected to virtual consultation services. Hydreight currently offers all necessary blood tests for GLP-1, available and fully integrated on its app.
At-home tests cover a broad spectrum of health concerns, including:
- Blood Glucose (calculates blood sugar level)
- Lipid profile test (measures cholesterol and triglycerides)
- Metabolic panel (monitors Kidney and Liver health)
- Thyroid Hormone test (Thyroid hormone production)
- Reactive protein test (measures inflammation in the body)
Shane Madden established Hydreight in 2018 with the goal of creating a platform and solution to help with delivering healthcare directly to people's homes. Motivated by his own experience of a health issue that remained undiagnosed for months due to lengthy test result wait times, numerous doctor visits, and high costs, Madden sought to create a more efficient and accessible way to address health concerns.
"Our mission is to empower individuals to lead longer, happier lives by offering tools for managing health from home. We provide direct access to diagnostic testing, virtual care, and medication delivery for a broad spectrum of health and wellness conditions," Madden stated.
The U.S. diagnostic testing market size was valued at USD 84.85 billion in 2023 and is anticipated to reach around USD 158.77 billion by 2033, growing at a CAGR of 6.5% from 2024 to 2033.
The pandemic got consumers used to home-testing for COVID-19, which resulted in a watershed moment for all aspects of diagnostics. And now they're interested in doing additional at-home diagnostics, for example, for vitamin and mineral deficiencies, gut health, hormone and cholesterol. People now expect affordable, high-quality, and easy diagnostic testing more than ever before.
The diagnostic testing market in the US is thriving, with diagnostic tests being a cornerstone of its healthcare system. These tests, which analyze samples from the body, serve diverse purposes across medical care stages, including prevention, detection, diagnosis, treatment, and disease management. They facilitate evidence-based medicine, enhance quality of care, promote wellness, enable early disease detection, and contribute to reducing overall healthcare costs.
"The pandemic highlighted the difficulties Americans face with lab testing, including unclear costs, confusion, and inconvenience. At Hydreight, we are providing a new approach to testing, and we will continue to pioneer in this fast-growing field," stated Shane Madden, CEO of Hydreight. "We envision a future where lab testing is quick, straightforward, and integrated with virtual care, allowing us to create a transformative, enduring digital health company that prioritizes people – exactly where they should be."
The home healthcare market is projected to reach $340B USDby 2027 in the US alone, and the Company is well positioned to capitalize on the rapidly growing home healthcare industry and will continue using our platform to empower healthcare professionals to deliver personalized, on demand care bridging the gap between provider compliance and patient convenience.
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 all 50 states.
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On behalf of the Board of Directors
“Shafin Diamond Tejani”
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com
For further information about Victory Square, please contact:
Investor Relations Contact – Abbey Vogt
Email: ir@victorysquare.com
Telephone: 604 283-9166
Peter Smyrniotis – Director
Telephone: 604 283-9166
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)
- Sectors include: Digital Health, Artificial Intelligence (AI), Machine Learning (ML), Blockchain/Web3, Virtual & Augmented Reality (VR/AR), Gaming, Climate Tech
- Owner-operated (approx. 15% Management Ownership)
Business Model:
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).
For more information, please visit www.victorysquare.com.
ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)
The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square and its portfolio companies, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and portfolio companies, including those items listed under the heading “Net Asset Value (“NAV”) Update”, “Notable Portfolio Highlights” and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “to be”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, “objectives”, “outlook” or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Although Victory Square believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Victory Square’s control, including, but not limited to, the risk factors discussed in the continuous disclosure materials of the Victory Square which are available under the Victory Square’s profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
