Victory Square trumpets US expansion of portfilio telemedicine comapny IV Hydreight Inc

Victory Square Technologies Inc (CSE:VST) (OTC:VSQTF) (FWB:6F6) has provided an update on its wholly-owned portfolio company IV Hydreight Inc, which saw rapid growth in the first quarter of 2021. Hydreight provides a proprietary telemedicine service that allows users to book confidential medical, health and wellness services in their home or other remote location. In February, Hydreight was acquired by Victory Square, and by the end of March, the company announced a strategic partnership with Victory Square Health in Brazil to expand telehealth product offerings in South America. Since January, Hydreight has expanded its product offerings and locations with an additional 30 outlets across the United States. There has been a great demand from potential franchisee partners across the US, the company said, and Hydreight is streamlining the process to continue the rapid growth of its mobile and telehealth business model. New US outlets include New York, Washington DC, Arkansas, Alabama and Nebraska, bringing its state total to 31, and Hydreight expects to be in operation in all 50 states by the end of 2021. READ: Victory Square Technologies posts 2020 profit in full-year financial statement “Since our acquisition by Victory Square, Hydreight has been able to take advantage of the extensive network that Victory Square provides its portfolio companies,” Hydreight CEO Shane Madden said in a statement. “Our exciting new mobile billing app is in direct correlation with the team and array of products and services available at and through Victory Square, and I am certain that this process will be a game-changer to our industry and to Hydreight.” The company has established relationships and supply network chains with major vendors including Medline, Mckesson, Allergan (Botox), Galderma, in addition to numerous pharmacies. The company also provides health and wellness protocols that include IV drips, Botox, COVID-19 testing, and other medical and medispa treatments. Medical insurance Hydreight has completed the automation process to enable guests and insurance providers to use an automated insurance verification process in conjunction with services and procedures. The customer can use an in-app 30-second insurance verification process, which provides a detailed report regarding insurance coverage. From there, booking only requires paying by credit card. Hydreight says its unique corporate national structure in the US allows for all insurance billing and remittance headaches to be removed and a seamless booking, payment, and reimbursement process. The company expects that its billing process will attract many new health care professional partners to its turnkey business model, as billing and related costs can cost medical service providers upwards of 20% on average of their gross revenue. Moving forward, the plan is to expand into B2B opportunities for preventative healthcare as summer approaches when dehydration and related injuries increase along with hospital and ER visits. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel