Victory Square Company Hydreight Adds Another National Wellness Medspa Franchise Using Its White Label Solution
Victory Square's portfolio company, Hydreight Technologies, has secured a new partnership with a national wellness medspa franchise utilizing its white label solution. This partnership expands Hydreight's presence to nearly 700 locations across the U.S., with 140 already operational. Hydreight charges franchises fees for network access and takes a percentage from mobile services facilitated through its platform. The company's solutions include IV drip therapy, aesthetics, GLP-1, and NAD+ services, along with a pharmacy network. The U.S. medical spa market is valued at $6.1 billion as of 2023. Hydreight is also developing a Point of Sale and Payment processing module for release in Q3 2024.
- Hydreight secured a partnership with a national wellness medspa franchise, expanding to nearly 700 locations across the U.S.
- 140 operational locations providing IV drip therapy, aesthetics, GLP-1, and NAD+ services.
- The U.S. medical spa market is valued at $6.1 billion as of 2023.
- Hydreight charges franchises fees for network access and takes a percentage from mobile services.
- Development of a new Point of Sale and Payment processing module expected in Q3 2024.
- Increasing orders for white-label medication with substantial revenue growth, reaching $1,072,455 in Q1 2024.
- Hydreight's figures are unaudited and approximate, potentially indicating reliability issues.
- Reliance on pharmacy network for product ordering could impose constraints and dependencies.
- Potential regulatory risks as post-Covid rules and regulations have tightened for medical services.
- Increased operational expenses due to expanding network and technology development.
Hydreight has secured National Medical Spa Partners with collectively almost 700 locations sold across the United States*
VANCOUVER, British Columbia, June 12, 2024 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that gives investor access to a portfolio of 25+ innovative companies from around the world in a single stock, is pleased to share that its portfolio company - Hydreight Technologies Inc. (“Hydreight”) (TSXV:NURS) (OTCQB:HYDTF) (FSE:SO6) a mobile clinical network and medical platform which enables flexible, at-home medical services across the United States, is pleased to announce it has added another national wellness medspa franchise using its white label solution. The all-in-one solution is designed to help brick-and-mortar locations provide medical services to clients in compliance with state healthcare regulations.
Hydreight’s white label solution provides an integrated, turnkey platform and the framework for business to provide in-person medical services, supported by technology infrastructure, connection to an independent doctors’ network, and a pharmacy network through its medical partner. Hydreight has secured three national medical spa partners with collectively almost 700 locations sold and 140 opened across the United States. Hydreight charges the franchises a licensing fee per location to access its network and takes a percentage fee from every mobile service facilitated through its platform. These brick-and-mortar businesses must use Hydreight’s medical network’s pharmacy to order products.
Hydreight’s newest partner is a growing wellness spa with multiple locations across the United States. The locations will use Hydreight’s proprietary technology to provide IV drip therapy, aesthetics, GLP-1 and NAD+ services. The integrated solutions will also assist the wellness franchise to continue expanding its footprint with new locations opening next year. Hydreight is also working on a Point of Sale and Payment processing solution for all brick and mortar clients and is expecting to release that module in Q3, 2024.
The Medical Spa market in the U.S. is estimated at US
Whitelabel Pharmacy orders in a glance:
| Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | |
| Number of Locations | 16 | 29 | 41 | 59 | 69 | 79 | 86 | 107 |
| Total Number of Orders | 78 | 227 | 334 | 513 | 812 | 935 | 1127 | 1352 |
| Total Medication Ordered | ||||||||
| USD** | 104,952 | 162,376 | 291,950 | 425,961 | 663,610 | 808,173 | 936,432 | 1,072,455 |
**Total White-Label medication ordered less amounts attributed to shipping. These figures are unaudited and approximate.
Shane Madden, CEO of Hydreight commented, “As we continue to grow and evolve our platform, we’ve recognized that there are additional white label opportunities to utilize and tap into our platform and network. Post Covid, as rules and regulations have tightened, it has become increasingly hard for brick-and-mortar wellness spas to provide some services without a medical professional or telemedicine technology to see a doctor. Our white label division has quickly become another revenue bucket that we will continue to focus on growing and our team continues to review these opportunities and onboard new partners. Now we are the platform of choice for our Nurse Network, VSDHONE D2C platform and all national brick and mortar franchises.”
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 through 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 over 650 cities and growing.
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“Shafin Diamond Tejani”
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com
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ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square is a Venture Builder that provides investors a liquid way to invest in early-stage technology companies without buying a venture fund that requires accredited investor status or multi-year commitments.
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The Victory Square business model is to buy, build and invest in early stage tech companies. We spend upwards of 48 months with those companies until they're ready to spin-off or stand on their own. There are a couple of unique elements to our business model…
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* Numbers of franchise sold units are based on the franchise's management team.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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