Victory Square Portfolio Company Hydreight Provides Year-End Review on Significant Growth and Progress - Seite 2

From an operational standpoint, Hydreight will remain focused on growing its medical network and adding more nurses on its platform, both organically and through acquisition. Hydreight plans to add more products and services to its offering, including lab testing and 12 blood tests that can be taken at home or office with the support of a nurse. Hydreight will continue rolling out semaglutide (GLP-1) to its network, which used together with diet and exercise, can help control blood sugar and has become popular to help with weight management. Semaglutide is only available with a doctor’s prescription and needs to be injected on a regular basis. All these products allow healthcare providers using the Hydreight platform to provide a higher level of medicine and shift into medical essentials. Hydreight plans to add a direct sales team to increase white label clients, targeting national med spa franchises by leveraging its mobile clinical network, proprietary technology platform, and pharmacy network. The Company will continue working on strategic tuck-in acquisitions to add more nurses on the platform quickly, as well as significant margin expansion in its pharmacy division.

From a financial lens, the Company remains focused on meaningful revenue growth, overall margin expansion and achieving cash-flow positivity on a GAAP basis in H1 2024.

Shane Madden, CEO of Hydreight commented, “We are building one of the largest mobile clinical network in the United States and 2023 was a transformative year with significant growth across the entire business. Throughout the entire year, we made incredible advances in our technology platform, medical network, pharmacy distribution and product offering. We made important investments in ongoing legal and compliance which have already proven to be beneficial to the business and will continue to support our growth long term. The accomplishments during the year were numerous, and I am proud of the team for their execution and delivery. Although 2023 was a pivotal year for us, we are just getting started, and I know that 2024 will be another strong year for the Company. We spent the last couple of years building the infrastructure and foundational pillars of our mobile network, now we must be laser focused on scale and growth, quickly. On behalf of the Hydreight team, we would like to wish everyone a Happy New Year!”