- Tirzepatide, a dual GIP and GLP-1 receptor agonist (GIP/GLP-1 RA), is an antidiabetic medication used for the treatment of type 2 diabetes and for weight loss.
- The GLP-1 segment is an important class of drugs for multiple cardiometabolic diseases. GLP-1 drugs work by mimicking the hormone GLP-1, resulting in weight loss, lowering hemoglobin A1c (HbA1c) and reducing cardiovascular risks.
- In addition to their acclaimed efficacy against diabetes and obesity, GLP-1 drugs are gaining traction for their potential to treat a variety of other common disorders.
- The burgeoning weight-loss drug industry could be worth as much as $100 billion by 2030, according to Goldman Sachs.
- Over 3,000 nurses, 107 white-label locations and their patients now have access to Tirzepatide through the Hydreight platform and its associated Medical network in over 700 cities across 50 states in the United States.
VANCOUVER, British Columbia and LAS VEGAS, May 23, 2024 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“Hydreight” or the “Company”) (TSXV:NURS)(OTCQB:HYDTF)(FSE:SO6) a mobile clinical network and medical platform which enables flexible, at-home medical services across 50 states in the United States, is pleased to announce that its over 3,000 nurses, 107 white-label locations and their patients now have access to Tirzepatide through the Hydreight platform and its associated Medical network in over 700 cities across 50 states in the United States.
Tirzepatide is an FDA-approved medicine used to treat type 2 diabetes mellitus and may be used off-label for the treatment of obesity due to its effective weight loss qualities. It functions as a dual GLP-1 and GIP agonist. Similar to other GLP-1 medicines, it is currently used as a second-line diabetic treatment and administered as a once-weekly subcutaneous injection.
Tirzepatide is in the same product line as Semaglutide,which was launched and accessible via the Hydreight platform at the end of 2023. Tirzepatide and Semaglutide injections are commonly used to treat type 2 diabetes. It can also be used together with diet and exercise to help control blood sugar and has become popular to help with weight management. Tirzepatide and Semaglutide are a glucagon-like peptide-1 (GLP-1) receptor agonist and is only available with a doctor’s prescription and needs to be injected on a regular basis.
Since the beginning of the year, the Company has seen significant growth and increased demand for its Semaglutide offering. Between January and February, there was a 250%+ increase in the number of Semaglutide orders. Semaglutide is injected on a monthly basis, and due to the recurring nature, the Company expects to see continued monthly growth.
Obesity, characterized by abnormal or excessive fat accumulation that poses risks to both physical and mental health, has nearly tripled worldwide since 1975, according to the World Health Organization (WHO). Currently, it ranks as the fifth-leading risk factor for mortality globally. Factors such as dietary habits, physical activity levels, and genetics contribute to the rising obesity rates, which are expected to continue increasing. According to Goldman Sachs, it is projected that by 2030, the global market for anti-obesity medications (AOMs) could grow by more than 16 times to $100 billion. Based on current trends, over half of the global population will be overweight or obese by 2035, compared to 38% in 2020, according to a World Obesity Atlas 2023 forecast.
"In our view, the chronic weight management market is at a turning point, with growth potential on the horizon. Weight loss and diabetes may just be the beginning for drugs like Semaglutide and Tirzepatide, as reports increasingly suggest they may have far-reaching benefits for treating conditions as diverse as heart and liver disease, Parkinson’s, anxiety and addiction, sparking research among firms competing in pharma’s latest gold rush." Shane Madden, CEO of Hydreight
The Company’s product offering aims to include various products and category options to ensure the customers’ needs are met. Every time a product is added, nurses must go through extensive training and onboarding to ensure the product is administered safely and correctly All these products allow healthcare providers using the Hydreight platform to provide a higher level of medicine and provide a pathway to shift into medical essentials.
Shane Madden, CEO of Hydreight commented, “One of our main strategic priorities for this year was to continue adding products to our offering, which provides more options for our nurses and customers. We will continue to add products throughout the year which also provides better healthcare outcomes for our customers. Our focus is to start shifting from preventative wellness and our legacy IV therapy to essential care provided on an ongoing basis.”
The Company also announces an agreement with Fairfax Partners Inc. ("Fairfax") dated May 15, 2024, who will provide social media communication and marketing support for a one-month period for a fee of C$20,000 plus GST. The services include content development, social media campaign and analytics. The term of the Fairfax agreement is for a period of one month starting May 15, 2024, and includes an early termination provision. The Company has options to renew the agreement after the one-month term at the same terms, and any renewal will be at the discretion of the Company. Fairfax and its principals are arm's length to the Company.
About Hydreight Technologies Inc.
Hydreight Technologies Inc. is building the largest mobile clinic network in the United States. Its proprietary, fully integrated platform hosts a network of nearly 3,000 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight empowers nurses, med spa technicians, and other licensed healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. The Hydreight platform hosts a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network that provides services in over 650 cities and growing.
On behalf of the Board of Directors
Shane Madden
Director and Chief Executive Officer
Hydreight Technologies Inc.
Contact
Email: ir@hydreight.com; Telephone: (480) 790 6886
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”, “Approximately” or similar expressions and includes information regarding the launch date of MedicalMedIV.com, and the anticipated effect on bookings and customer retention rates.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or predictions 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.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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.
