Victory Square Technologies (VST) has released the first quarter 2021 operational and financial results of its portfolio company, Hydreight.
Hydreight provides a proprietary telemedicine service that allows users to book confidential health and wellness or medical services wherever they may need discreet assistance.
The company added 30 new business locations in the United States in Q1 2021.
There has been a great demand from potential franchisee partners across the United States and Hydreight is streamlining the “partner process” to continue the rapid growth of its mobile and telehealth business model.
Hydreight also entered into a strategic partnership with Victory Square Health in Brazil to expand telehealth product offerings for South America.
Hydreight founder and CEO Shane Madden commented,
“Since our acquisition by Victory Square, Hydreight has been able to take advantage of the extensive network that Victory Square provides its portfolio companies.”
He added,
“Our exciting new mobile billing app is in direct correlation with the team and array of products and services available at and through Victory Square, and I am certain that this process will be a game changer to our industry and to Hydreight.”
Hydreight is now offering Premier Medical Insurance through its billing app, enabling guests and insurance providers to use an automated insurance verification process when booking Hydreight's medical services.
The app will but down on the time, costs, and issues normally encountered by the healthcare professional biller, and Hydreight expects that this premiere billing process will attract many new healthcare professional partners to its turnkey business model.
Looking forward to the remainder of 2021, Hydreight is on track to meet its $2.5 million mobile medical sales goal. The company expects to be operational in all 50 states by the end of Q3 2021.
Victory Square builds, acquires, and invests in promising startups, providing the senior leadership and resources needed for fast-track growth.
Victory Square Technologies (VST) opened trading at $0.85 per share.