Hydreight Technologies Signs Binding Letter of Intent to Acquire 5% Equity Stake in Perfect Scripts, LLC, with Option to Increase to 40%, and Establish Strategic Partnership

Core Viewpoint - Hydreight Technologies Inc. has entered into a strategic partnership with Perfect Scripts LLC, which includes acquiring a 5% interest in Perfect Scripts and establishing a 503B pharmacy in the U.S. This partnership aims to enhance Hydreight's growth by improving pharmacy margins and expanding its healthcare service offerings [2][3]. Company Overview - Hydreight Technologies Inc. operates a mobile clinical network across North America, integrating nurses, doctors, and pharmacy distribution to provide healthcare services directly to patients [14]. - Perfect Scripts LLC is the parent company of several pharmacies and holds proprietary technology, including PerfectOS, which facilitates efficient pharmacy operations [4][5]. Transaction Details - The binding letter of intent (LOI) outlines that Hydreight will acquire 5% of Perfect Scripts in exchange for 2,250,000 common shares, with a minimum deemed price of CAD$2.30 per share [2]. - The transaction includes provisions for Hydreight to maintain its pro rata interest and potentially acquire up to 40% of Perfect Scripts [2]. - A definitive agreement is expected to be finalized by August 25, 2025, subject to due diligence and regulatory approvals [9]. Strategic Implications - The partnership is expected to enhance Hydreight's control over production, distribution, and pricing of key pharmaceuticals, thereby increasing pharmacy margins and securing a consistent supply chain [3]. - The establishment of a 503B pharmacy will allow Hydreight to serve a broader market, including hospitals, clinics, and direct-to-consumer brands [3]. Operational Capacity - PerfectRx, a subsidiary of Perfect Scripts, operates as a HIPAA-compliant mail-order pharmacy capable of processing over 150,000 prescriptions daily, with plans to expand its capacity with a new location in the Dallas-Fort Worth area [5][6][7]. - The proprietary PerfectOS platform enhances operational efficiency through digital prescription intake and real-time inventory management [5][7]. Market Positioning - The partnership positions Hydreight to leverage a comprehensive legal and technology framework, enhancing its competitive edge in the healthcare market [3]. - The VSDHOne platform, developed in collaboration with Victory Square Technologies, aims to simplify the entry for businesses into the online healthcare space, offering compliant solutions for various healthcare products [15].