RushNet, Inc (RSHN) heliosDX, Grandeza Healthcare Surpass $7.8 Million Revenue Run Rate

Rhea-AI Summary

RushNet, Inc (OTC PINK:RSHN) has reported significant growth through its subsidiaries heliosDX and Grandeza Healthcare. By September 10, 2021, heliosDX achieved a year-to-date revenue of $4,305,744.84 and is on track to exceed $6 million for the year. Grandeza Healthcare generated $1,275,218.71 in revenue, targeting $1,600,000 for 2021. Combined, they project an annual revenue run rate over $7,800,000. RushNet has also secured $20 million in funding for future acquisitions and growth initiatives, enhancing operational profitability and market reach.

Positive

• heliosDX's revenue YTD of $4,305,744.84 surpasses 2020 annual revenue.
• Projected annual revenues for heliosDX exceed $6 million in 2021.
• Grandeza Healthcare's revenue of $1,275,218.71 indicates month-over-month and quarter-over-quarter growth.
• RushNet's combined revenue run rate exceeds $7,800,000.
• Secured up to $20 million in funding for acquisitions and growth initiatives.

Negative

• None.

ALPHARETTA, GA / ACCESSWIRE / September 14, 2021 / RushNet, Inc (OTC PINK:RSHN), ("the Company") is pleased to announce that its subsidiary heliosDX achieved a major milestone in pursuit of continued growth for 2021 and relative stretch targets. As of the week ending September 10th for 2021, heliosDX surpassed the 2020 annual revenue with $4,305,744.84 revenue YTD with $3,504,667.24 gross profit. heliosDX is on track to exceed $6,000,000 in 2021 annual revenues. With continued focus on growth in the infectious disease (PCR) and the Behavioral Toxicology service arenas, heliosDX is in a strong position to meet and/or surpass its stretch target.

Additionally, reinforcing Rushnet, Inc's financial strength, through this calendar year (September 13, 2021), Grandeza Healthcare has produced revenues of $1,275,218.71 and continues to remain profitable. Grandeza Healthcare achieved its revenue increases month-over-month and quarter-over-quarter. With the recent customer addition, Grandeza should see its stretch target of $1,600,000 of revenues in 2021. Danielle Bauer, CEO of Grandeza Healthcare, says, "We continue to see Grandeza revenues grow, and with the recent targeted acquisition the future is bright."

HeliosDX combined with Grandeza Healthcare brings RushNet's annual revenue to a run rate exceeding $7,800,000 in comparison to August's previously announced trend towards $7.6 million combined annual revenue. RushNet continues to execute its plans in bringing smaller, yet profitable companies to the public market with great products or services - companies which foster benefits to one another, enabling each to grow organically. In the coming months, Grandeza expects rapid growth as it intends to add a department within the company focused on temporary healthcare employment. heliosDX, as previously stated, continues to grow its services surrounding Infectious Disease and Behavioral Toxicology to further strengthen its revenues and achieve the 2021 stretch target.

As reported Sunday, August 22, 2021, on Newsmax, Grandeza Healthcare joined RushNet, Inc. as its newest subsidiary. This is RushNet's second acquisition in as many months. In July 2021, RushNet acquired heliosDX which is the sister company to Grandeza Healthcare, enjoying cross synergies. These two acquisitions really set the foundation for Rushnet, Inc and paves the way for the future.

Rushnet recently signed a term sheet with a private family office to provide funding, as needed, of up to $20,000,000. These funds will be utilized to further position Rushnet, heliosDX and Grandeza Healthcare through acquisition and growth initiatives. The initial acquisitions include profitable and growing laboratories. Such acquisitions not only enhance the breadth of operations and thus profitability of the laboratories themselves, but they also enhance the profitability of Grandeza Healthcare.

Perhaps even more importantly, this enhanced reach will make heliosDX far more profitable with new technology to be announced shortly, which involves artificial intelligence. Stay tuned.

About HeliosDx:

heliosDX is a National Clinical Reference Laboratory offering High-Complexity Urine Drug Testing (UDT), Behavioral Drug Testing, Allergy Droplet Cards, Oral Fluids, Infectious Disease (PCR), and NGS Genetic Testing. We are contracted in 44 of the lower 48 states and looking to expand our reach and capabilities. We intend to always stay ahead of the curve by continually investing in our infrastructure with the most efficient scientific proven instruments and latest cutting-edge software for patient and physician satisfaction. In management's opinion, following such best practices are intended to allow heliosDX to provide physicians fast and accurate reporting, meeting and exceeding industry benchmarks. It is our goal to excel in patient and client care through physician designed panels that aid in testing compliance and reporting education.

About Grandeza Healthcare:

Grandeza Healthcare is a healthcare billing and consulting company. Providing expert billing and coding services to laboratories, medical practices, dental offices, and other medical verticals. In addition to billing, we provide Revenue Cycle Management (RCM) for all clients, as well as customized consulting services. We are a rapidly growing company adding new services and value to further demonstrate our competitive advantage.

Contact:

Ashley Sweat
asweat@heliosdx.com
www.heliosdx.com
Twitter Handle: @dx_helios

Safe Harbor Notice

Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). The Company cautions that statements, and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.

Investor caution/added risk for investors in companies claiming involvement in COVID-19 initiatives -

On April 8, 2020, SEC Chairman Jay Clayton and William Hinman, the Director of the Division of Corporation Finance, issued a joint public statement on the importance of disclosure during the COVID-19 crisis.

The SEC and Self-Regulatory Organizations are targeting public companies that claim to have products, treatment, or other strategies with regard to COVID-19.

The ultimate impact of the COVID-19 pandemic on the Company's operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak. Additionally, new information may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time.

We further caution investors that our primary focus and goal is to battle this pandemic for the good of the world. As such, it is possible that we may find it necessary to make disclosures which are consistent with that goal, but which may be adverse to the pecuniary interests of the Company and of its shareholders.

SOURCE: RushNet, Inc.

View source version on accesswire.com:
https://www.accesswire.com/663890/RushNet-Inc-RSHN-heliosDX-Grandeza-Healthcare-Surpass-78-Million-Revenue-Run-Rate

FAQ

What is RushNet, Inc's revenue for 2021?

RushNet, Inc projects a combined revenue run rate exceeding $7,800,000 for 2021.

What milestones has heliosDX achieved?

heliosDX surpassed the 2020 annual revenue with $4,305,744.84 year-to-date revenue as of September 10, 2021.

What are Grandeza Healthcare's revenue targets for 2021?

Grandeza Healthcare aims to achieve $1,600,000 in revenue for 2021.

How much funding has RushNet secured for growth initiatives?

RushNet has signed a term sheet for up to $20 million in funding to support future acquisitions and growth.