Hydreight Technologies Inc. Ranks 9th in Deloitte’s Technology Fast 50 Program Winners for 2024

Rhea-AI Summary

Hydreight Technologies has secured the 9th position in Deloitte's 2024 Technology Fast 50™ awards program, recognizing Canada's fastest-growing technology companies based on revenue growth from 2020 to 2023. As a mobile clinical network and medical platform, Hydreight's achievement highlights its significant organic revenue growth and market position. The company, which was previously named one of Canada's Companies-to-Watch in the same program last year, qualified by meeting criteria including minimum revenue requirements of $50,000 in 2020 and $5 million in 2023, proprietary technology ownership, and investing at least 5% of gross revenues in R&D activities in Canada.

VANCOUVER, British Columbia and LAS VEGAS, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“Hydreight” or the “Company”) (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6), a rapidly growing mobile clinical network and medical platform, has been recognized by Deloitte’s 2024 Technology Fast 50™ awards program for its rapid growth, entrepreneurial spirit, and bold innovation.​

The program recognizes Canada’s 50 fastest-growing technology companies based on the highest revenue growth percentage over the past four years. Hydreight ranks 9th for its revenue growth from 2020 to 2023. ​The details for ranks and company’s growth percentage is available on Deloitte’s announcement.​

Deloitte’s Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming the industry. The program runs alongside the broader Deloitte North American Technology Fast 500™, and winners are automatically eligible for this elite ranking.

Shane Madden, CEO of Hydreight commented, “We are thrilled to be ranked 9 for 2024, from the esteemed Deloitte Technology Fast 50™ program. This award not only highlights the Company’s significant organic revenue growth, but also validates our business operations and key differentiators we have in the market. We are building one of the largest mobile clinical networks across the United States. Our investment in our technology and infrastructure helped us to become the mobile medicine solutions for nurses, bricks and mortar and D2C businesses. We are very excited for our “VSDHONE” products expansion and cash flow in the next 12 months. We continue pushing for growth, profitability and capital market exposure.”

Hydreight was named one of Canada’s Companies-to-Watch in Deloitte’s Technology Fast 50™ Program last year.

"These exceptional Technology Fast 50 winners epitomize the spirit of innovation and entrepreneurial excellence in Canada's technology sector," expressed Anders McKenzie, the National Technology Fast 50 program leader at Deloitte Canada. "By demonstrating remarkable growth rates and showcasing their ability to adapt and thrive in a rapidly evolving market, these companies have distinguished themselves as leaders in their respective fields. Their success not only reflects their own ingenuity and dedication but also contributes to the overall growth and competitiveness of Canada's technology ecosystem. We are proud to celebrate their achievements and recognize them as the driving force behind the country's technological advancement and economic prosperity." ​

Hydreight technology provided a corporate update on Oct 16, 2024.

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have a minimum revenue of $50,000 in 2020 and $5 million in 2023, be headquartered in Canada, own proprietary technology, and invest a minimum of 5% of gross revenues in R&D activities that are conducted in Canada.​​

About the Deloitte Technology Fast 50 program ​
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca.

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.

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

FAQ

What ranking did Hydreight Technologies (HYDTF) achieve in Deloitte's 2024 Technology Fast 50 program?

Hydreight Technologies (HYDTF) ranked 9th in Deloitte's 2024 Technology Fast 50 program, based on revenue growth from 2020 to 2023.

What were the qualification requirements for Deloitte's 2024 Technology Fast 50 ranking?

Companies needed four years in business, minimum revenue of $50,000 in 2020 and $5 million in 2023, Canadian headquarters, proprietary technology, and 5% of gross revenues invested in R&D in Canada.

What was Hydreight Technologies' (HYDTF) previous recognition in Deloitte's program?

Hydreight Technologies was named one of Canada's Companies-to-Watch in Deloitte's Technology Fast 50™ Program in the previous year.

What is Hydreight Technologies' (HYDTF) main business focus as recognized by Deloitte?

Hydreight Technologies operates as a rapidly growing mobile clinical network and medical platform, building one of the largest mobile medicine networks across the United States.