VANCOUVER, British Columbia and LAS VEGAS, March 07, 2023 — Hydreight Technologies Inc. (“Hydreight” or the “Company“) (TSXV: NURS)(FSE: SO6)(OTCQB: HYDTF) an on-demand home healthcare and wellness platform, is pleased to announce that it has onboarded new service providers in over 612 cities in the past 12 months.
Hydreight is available throughout the U.S., with California, Georgia, Texas, and New York showing the strongest growth in the past year. Its unique regulatory framework makes it possible for nurses and other licensed health and wellness professionals to deliver care independently, outside of traditional medical facilities.
Patients can use the app to book home health and wellness services, ranging from IV infusions to diagnostic tests, personal care, aesthetic services, and more. The Company has plans to continue to expand the variety of services available.
“Nurses on our platform can choose the services they want to offer, make their own hours, and be their own bosses,” said Shane Madden, CEO of Hydreight. “We see nurses using Hydreight to change their lifestyle to one with more flexibility, or to simply supplement their income on the side by picking up a few hours of work whenever they choose.”
A recent survey by the American Nurses Foundation found that at least 43% of nurses are considering leaving the profession.
“The pandemic state of emergency will be lifted this Summer, but for nurses, there remains a state of emergency. Nurses are burned out, striking, and leaving the profession altogether,” added Madden. “It’s not because they don’t love what they do, but overwhelmingly due to challenging working conditions. Hydreight offers an alternative solution, a solution which enables them to have more control over their lives and careers.”
Hydreight nurses work independently with the oversight of a Hydreight medical director and have access to a digital pharmacy, as well as a full suite of HIPPA-compliant tools to manage the operations of their business including scheduling, payments, and more.
About Hydreight Technologies Inc.
Hydreight Technologies Inc. (TSXV: NURS) an on-demand home healthcare and wellness platform that bridges the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals to deliver services independently, on their own terms, or add mobile services to existing location-based operations. The network offers medical director oversight, liability insurance, HIPAA-compliant documentation, competitively priced prescriptions via a 503B licensed pharmacy, and more. The platform includes a built-in, easy-to-use suite of fully-integrated tools for accounting, documentation, sales, inventory, booking, managing patient data, and more, making it possible to deliver fully-compliant mobile medicine across 50 states. Learn more at Hydreight.com.
Patients can download Hydreight from the Apple App store or Google Play Store, and prospective service providers can sign up at: Hydreight.com/start-a-business/
On behalf of the Board of Directors
Shane Madden
Director and Chief Executive Officer
Hydreight Technologies Inc.
www.hydreight.com
Telephone: (480) 790 6886
For further information about Hydreight, please contact:
Investor Relations
Contact – Abbey Vogt
Email: ir@hydreight.com
Telephone: (480) 790 6886
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This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Use of Non-GAAP Financial Measures:
This release contains references to non-GAAP financial measures Adjusted Revenue and Adjusted Profit. The Company defines Total Revenue or Adjusted Revenue as total GAAP Revenues plus business partner commission and affiliate payouts plus the cumulative non-cash adjustments for the recognition and deferral of unearned business partner contract revenue at the opening and closing balance sheet date. The Company defines Adjusted Profit as Net income (loss) under IFRS plus the cumulative non-cash adjustments for the recognition and deferral of unearned business partner contract revenue at the opening and closing balance sheet date. There is no comparable GAAP financial measure presented in IV Hydreight Inc. and Hydreight Technologies Inc condensed consolidated interim financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measures. The Company believes that the measures provide information useful to its shareholders in understanding the Company’s performance, and may assist in the evaluation of the Company’s business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP, and is not necessarily indicative of other metrics presented in accordance with GAAP.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: expectations regarding the number of new business partners of Hydreight by the end of 2022.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company’s shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
