Hydreight Technologies through its associated Medical network now offer Tirzepatide to Product Offering which also features GLP-1 Medications (Low-Cost Semaglutide), NAD+ and more
Hydreight Technologies has expanded its product offering by adding Tirzepatide, a dual GIP and GLP-1 receptor agonist, to its platform. Tirzepatide, used for treating type 2 diabetes and weight loss, joins their lineup which includes GLP-1 medications such as Semaglutide and NAD+. The addition gives over 3,000 nurses and 107 white-label locations access to the drug across 700 cities in 50 states in the U.S. This move comes amid significant growth in demand for Semaglutide, which saw a 250% increase in orders from January to February 2024. CEO Shane Madden emphasizes the importance of expanding product offerings to improve healthcare outcomes and shift towards essential care. The company also announced a marketing agreement with Fairfax Partners for social media support.
- Addition of Tirzepatide expands Hydreight's product lineup, potentially increasing revenue.
- Significant growth in demand for Semaglutide, with a 250% increase in orders from January to February 2024.
- Over 3,000 nurses and 107 locations now have access to new medications, broadening service reach.
- Strategic focus on shifting from wellness to essential care could improve long-term business prospects.
- Partnership with Fairfax Partners for marketing support may enhance brand visibility and customer engagement.
- High competition in the weight-loss drug market could limit Hydreight's market share.
- Costs associated with training and onboarding for new products could impact short-term profitability.
- The one-month marketing agreement with Fairfax Partners, costing C$20,000, is a significant expenditure with uncertain ROI.
- Dependency on the success of Tirzepatide and Semaglutide; failure to meet efficacy expectations could adversely affect revenue.
- Tirzepatide, a dual GIP and GLP-1 receptor agonist (GIP/GLP-1 RA), is an antidiabetic medication used for the treatment of type 2 diabetes and for weight loss.
- The GLP-1 segment is an important class of drugs for multiple cardiometabolic diseases. GLP-1 drugs work by mimicking the hormone GLP-1, resulting in weight loss, lowering hemoglobin A1c (HbA1c) and reducing cardiovascular risks.
- In addition to their acclaimed efficacy against diabetes and obesity, GLP-1 drugs are gaining traction for their potential to treat a variety of other common disorders.
- The burgeoning weight-loss drug industry could be worth as much as
$100 billion by 2030, according to Goldman Sachs.
- Over 3,000 nurses, 107 white-label locations and their patients now have access to Tirzepatide through the Hydreight platform and its associated Medical network in over 700 cities across 50 states in the United States.
VANCOUVER, British Columbia and LAS VEGAS, May 23, 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 that its over 3,000 nurses, 107 white-label locations and their patients now have access to Tirzepatide through the Hydreight platform and its associated Medical network in over 700 cities across 50 states in the United States.
Tirzepatide is an FDA-approved medicine used to treat type 2 diabetes mellitus and may be used off-label for the treatment of obesity due to its effective weight loss qualities. It functions as a dual GLP-1 and GIP agonist. Similar to other GLP-1 medicines, it is currently used as a second-line diabetic treatment and administered as a once-weekly subcutaneous injection.
Tirzepatide is in the same product line as Semaglutide,which was launched and accessible via the Hydreight platform at the end of 2023. Tirzepatide and Semaglutide injections are commonly used to treat type 2 diabetes. It can also be used together with diet and exercise to help control blood sugar and has become popular to help with weight management. Tirzepatide and Semaglutide are a glucagon-like peptide-1 (GLP-1) receptor agonist and is only available with a doctor’s prescription and needs to be injected on a regular basis.
Since the beginning of the year, the Company has seen significant growth and increased demand for its Semaglutide offering. Between January and February, there was a
Obesity, characterized by abnormal or excessive fat accumulation that poses risks to both physical and mental health, has nearly tripled worldwide since 1975, according to the World Health Organization (WHO). Currently, it ranks as the fifth-leading risk factor for mortality globally. Factors such as dietary habits, physical activity levels, and genetics contribute to the rising obesity rates, which are expected to continue increasing. According to Goldman Sachs, it is projected that by 2030, the global market for anti-obesity medications (AOMs) could grow by more than 16 times to
"In our view, the chronic weight management market is at a turning point, with growth potential on the horizon. Weight loss and diabetes may just be the beginning for drugs like Semaglutide and Tirzepatide, as reports increasingly suggest they may have far-reaching benefits for treating conditions as diverse as heart and liver disease, Parkinson’s, anxiety and addiction, sparking research among firms competing in pharma’s latest gold rush." Shane Madden, CEO of Hydreight
The Company’s product offering aims to include various products and category options to ensure the customers’ needs are met. Every time a product is added, nurses must go through extensive training and onboarding to ensure the product is administered safely and correctly All these products allow healthcare providers using the Hydreight platform to provide a higher level of medicine and provide a pathway to shift into medical essentials.
Shane Madden, CEO of Hydreight commented, “One of our main strategic priorities for this year was to continue adding products to our offering, which provides more options for our nurses and customers. We will continue to add products throughout the year which also provides better healthcare outcomes for our customers. Our focus is to start shifting from preventative wellness and our legacy IV therapy to essential care provided on an ongoing basis.”
The Company also announces an agreement with Fairfax Partners Inc. ("Fairfax") dated May 15, 2024, who will provide social media communication and marketing support for a one-month period for a fee of C
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 nearly 3,000 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 empowers nurses, med spa technicians, and other licensed healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. The Hydreight platform hosts 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
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