RushNet, Inc (RSHN) Subsidiary heliosDX Surpasses Major Financial Milestone, on Track with 2021 Stretch Target of $6 Million in Revenue

Rhea-AI Summary

RushNet, Inc. (OTC PINK:RSHN) announced a major milestone for its subsidiary heliosDX, surpassing 2020 annual revenue with $4,305,744.84 YTD and aiming for $6,000,000 by year-end 2021. This marks a significant growth from $2,639,454.58 in 2019 and $4,294,435.82 in 2020. Additional revenue from Grandeza Healthcare is projected to bring total annual revenue over $7,800,000. Recent acquisitions and upcoming funding of $20,000,000 are expected to support further growth.

Positive

• heliosDX has surpassed 2020 annual revenue with $4,305,744.84 YTD.
• Projected annual revenue for heliosDX is $6,000,000 by year-end 2021.
• Grandeza Healthcare reported revenues of $1,275,218.71 and is on track for $1,700,000 in annual revenue.
• Combined annual revenue from heliosDX and Grandeza exceeds $7,800,000.
• Recent acquisition strategy supports growth and market presence.

Negative

• None.

ALPHARETTA, GA / ACCESSWIRE / September 13, 2021 / RushNet, Inc. (OTC PINK:RSHN), ("the Company") is pleased to announce that its subsidiary heliosDX has reached a major milestone in pursuit of continued growth for 2021 and relative stretch targets. As of the week ending September 10th for 2021, heliosDX has surpassed the 2020 annual revenue with $4,305,744.84 revenue YTD with $3,504,667.24 gross profit. heliosDX is on track to achieve annual revenues of $6,000,000 by the end of 2021. With continued focus on growth in the infectious disease (PCR) and the Behavioral Toxicology service arenas, management believes heliosDX is in a strong position to meet and/or surpass its stretch target.

heliosDX had annual revenues in 2019 of $2,639,454.58 and in 2020 of $4,294,435.82 which is an increase of over 60% year-over-year. To have passed 2020 annual revenue in 2021 at this time of the year is a tremendous accomplishment. The company continues to execute the growth plan as seen through its continued record-breaking revenues and gross profit.

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 has seen its revenue continue to increase month-over-month and quarter-over-quarter. With the current 2021 monthly trend, Grandeza is well suited to achieve nearly $1,700,000 in annual revenue to exceed its stretch target. Danielle Bauer, CEO of Grandeza Healthcare, says, "we continue to believe in Grandeza's revenue growth, combined 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 goal 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 are intended to set the foundation for Rushnet, Inc and pave the way for the future. Rushnet recently signed a term sheet with a private family office to provide funding up to $20,000,000. These funds are being committed to further position Rushnet, heliosDX and Grandeza Healthcare through contemplated acquisition and growth initiatives.

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.

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FAQ

What financial milestone did RSHN's subsidiary heliosDX achieve?

heliosDX has surpassed the 2020 annual revenue with $4,305,744.84 YTD.

What is the revenue target for heliosDX by the end of 2021?

heliosDX aims for $6,000,000 in annual revenue by the end of 2021.

What are the combined revenues of heliosDX and Grandeza Healthcare for RSHN?

The combined annual revenue from heliosDX and Grandeza Healthcare exceeds $7,800,000.

How much funding has RSHN signed for future growth initiatives?

RushNet has signed a term sheet with funding of up to $20,000,000.

What services does heliosDX provide?

heliosDX offers High-Complexity Urine Drug Testing, Behavioral Drug Testing, and more.