Victory Square Portfolio Companies, Hydreight & Victory Square Health, Team Up To Expand Telehealth Product Offerings in Brazil

Rhea-AI Summary

Victory Square Technologies announced a strategic partnership between its portfolio companies, IV Hydreight and Victory Square Health, to expand Telehealth services in Brazil. This initiative responds to the increasing demand for safe healthcare options, especially during the pandemic. Their offerings will include on-demand physicians, cosmetic procedures, in-home consultations, and COVID-19 testing, subject to necessary approvals. The partnership positions both companies to capture significant market opportunities in the emerging digital health space in Brazil, benefiting from VSH's personalized medicine solutions.

Positive

• Expansion of telehealth services into Brazil could tap into a large market of 213 million residents.
• Collaboration with Hydreight enhances service offerings such as mobile health and wellness services.
• Established growth potential in the digital health sector, indicating a timely entry amid rising healthcare demands.

Negative

• None.

Telehealth services to be offered in Brazil include: on demand physicians, prescription services, cosmetic services, in-home consultations, full integration with insurance providers and proprietary testing services among others following necessary approvals.

VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or the “Company“) (CSE:VST) (OTC:VSQTF) (FWB:6F6) — has announced that Victory Square portfolio companies IV Hydreight Inc. (“Hydreight”) and Victory Square Health Inc. (“VSH”) are combining resources to create and expand Telehealth product offerings throughout Brazil. This partnership will include delivering the following services throughout the country: offering on demand physicians, prescription services, cosmetic services, in-home consultations, full integration with insurance providers and proprietary testing services among others.

Due to the global pandemic, the demand has never been greater for safe and secure in-home testing and treatment options. Victory Square Health and Hydreight have teamed up to fill this need. The Company’s safe and secure protocols will enable citizens to receive the urgent care and testing in the safety and comfort online and in person in their own homes. This opportunity for both Victory Square portfolio companies comes at an opportune time with the emergence of Digital Health in Brazil. Victory Square Health has been preparing for Telehealth Opportunities in Brazil and this partnership with Hydreight strategically positions both companies to capitalize upon this massive new market in VSH’s home playingfield of Brazil.

Victory Square Health is a leading manufacturer and supplier of personalized medicine solutions including diagnostic tests to support patient’s care and improve health outcomes. Last year, the Company announced a key business development and sales agreement with MOLKOM Pharmaceuticals, a global business development agency. MOLKOM has vast business development relationships with major clients in over 30 countries.

Founded in 2018, Hydreight provides a unique, custom built, proprietary telemedicine service across the USA that allows users to book confidential health & wellness and/or medical services at their home, hotel, office or wherever they may need discreet assistance. The partnership with Hydreight will now give VSH the opportunity to expand upon its successful products through on demand services, mobile services, and cosmetic procedures throughout Brazil and made available to the country’s 213 million residents.

The partnership plans following licensing approvals is to offer clients in Brazil an array of services including:

• In home cosmetic procedures
• In home and on-line consultations with medical professionals
• In home testing and diagnostic services
• Covid-19 testing and vaccination services
• 24 hour on demand physicians
• Scheduling and payment processing services
• Prescription and refill services
• Mental health and wellness services
• Senior care and shut-in services for the disabled and marginalized
  

VSH President and CEO Felipe Peixoto said, “My team members and I at VSH are very excited with this newly formed partnership between Hydreight and our Company. This strategic partnership positions our company to be a leader in the massive emerging Digital Health space in Brazil. The advantages brought to this partnership with Hydreight include: important tech, payment processing, secured channels, and mobile on demand and in-person live service deliverables to the consumer in a safe and secure manner that will mesh seamlessly with our product offerings and services.”

Hydreight CEO Shane Madden said, “Our Company has experienced tremendous growth in the US over the past 2 years and in particular during this pandemic. We at Hydreight have built our business to license and scale our product and service offerings in new and emerging territories. We are ready and able to execute on the opportunities in Brazil through this partnership with VSH and this is only the first of many new opportunities we have in the pipeline.”

VST CEO Shafin Diamond Tejani said, “We’ve been very pleased with the strong performance of both Hydreight and VSH. The two transactions have created tremendous value for Victory Square and our shareholders. This partnership announcement aligns with our strategy to have VSH become a leader in the digital health revolution in Brazil.”

Check out VictorySquare.com and sign up to VST's official newsletter at www.VictorySquare.com/newsletter

On behalf of the board,

Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies

For further information about the Company, please contact:

Investor Relations Contact – Edge Communications Group
Email: ir@victorysquare.com
Telephone: 604 283-9166

Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 604-928-6066

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. VST's sweet spot is cutting-edge tech that's shaping the 4th Industrial Revolution. Our corporate portfolio consists of 20 global companies using AI, VR/AR, and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.

What we do differently for startups

VST isn't your ordinary investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.

What we do differently for investors

VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF). For investors, we offer early-stage access to the next unicorns before they're unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we're able to provide strong and stable returns while also tapping into emerging global trends with big upsides.

For more information, please visit www.victorysquare.com

Forward Looking Statement

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Immersive Technologies Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 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. 

FAQ

What telehealth services will VSQTF offer in Brazil?

Victory Square Technologies plans to offer services including on-demand physicians, in-home consultations, and COVID-19 testing, among others.

When was the partnership between Hydreight and VSH announced?

The partnership was announced on March 31, 2021.

What is the significance of the telehealth expansion for VSQTF?

The expansion into telehealth services positions VSQTF to capitalize on a growing digital health market in Brazil.

How does the partnership relate to the COVID-19 pandemic?

The partnership aims to address increased demand for safe healthcare options during the pandemic by providing in-home testing and medical services.

What market does Victory Square Health target with this initiative?

Victory Square Health targets the digital health market in Brazil, which is becoming increasingly relevant due to rising healthcare needs.