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Victory Square Technologies inks LOI to acquire mobile health and wellness service provider IV Hydreight

Published: 09:25 19 Jan 2021 EST

Victory Square Technologies Inc - Victory Square Technologies inks LOI to acquire mobile health and wellness service provider IV Hydreight
With a click of a mobile phone, a medical professional from Hydreight will go to a customer and 'administer the treatment discreetly, safely and conveniently,' said Victory Square

Victory Square Technologies Inc (CSE:VST) (OTC:VSQTF) (FWB:6F6) announced on Tuesday that it signed a binding letter of intent on January 13 this year related to the acquisition of all of the shares of IV Hydreight Inc, a mobile health and wellness service provider operating in the US.

The Vancouver, British Columbia based group which builds, acquires, and invests in promising startups, said the details of the acquisition will be disclosed after the completion of the deal.

Founded in 2018, Hydreight provides a custom-built, proprietary telemedicine service that allows users to book confidential health and wellness and/or medical services at their home, hotel, office or wherever they may need discreet assistance.

READ: Victory Square Technologies says portfolio company wins approval to sell Safetest Covid-19 Rapid Test in Brazil

Hydreight is a US certified e-script and telemedicine provider, allowing it to offer a wide array of health and medical services in all 50 US states.

In addition to providing telehealth services, Hydreight also provides a diverse suite of services that include IV drip, Botox, coronavirus (COVID-19) testing, vaccinations, and other medical and medispa treatments.

The Hydreight mobile service is simple. Customers download the Hydreight app onto their mobile phone and fill out a confidential health questionnaire. After that, they can book a private session with a medical professional who is close to their current location.

“With a click of a mobile phone, a medical professional from Hydreight will go to a customer and administer the treatment discreetly, safely and conveniently", said the company.

Victory Square noted that customers can book an appointment “anytime, anywhere, and with the same ease and convenience as booking ridesharing or ordering on-demand food delivery services.”

In addition, Hydreight provides full pharmaceutical offerings across the US and has full 503B pharmaceutical supply capabilities.

“It is particularly impressive to see Hydreight not only make medicine and medical procedures available to 'your door' in the click of a button, but to also make it completely end-to-end turnkey for healthcare professionals,” said Victory Square Technologies CEO Shafin Diamond Tejani, who is a serial entrepreneur and investor with a knack for spotting big trends early.

“The technology itself is merely the vessel, it is the bolstering of that technology with compliance, insurance and legal security that makes Hydreight a creator of an entirely new space,” he added in a statement.

Victory Square revealed that Hydreight has established “key relationships” and “supply network chains” with major vendors including Medline, Mckesson, Allergan (Botox), Galderma and numerous pharmacies.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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on 10/19/2021