Hydreight Technologies Acquires 5% Equity Stake in Perfect Scripts, LLC, with Option to Increase up to 40%, and Establishes Strategic Partnership

Core Insights - Hydreight Technologies Inc. has successfully closed a strategic partnership transaction with Perfect Scripts LLC, acquiring a 5% membership interest in exchange for 2,250,000 common shares valued at CAD$2.30 each [1][2] - The partnership aims to establish a 503B pharmacy in the U.S., allowing Hydreight to secure the lowest pricing for products sold by Perfect Scripts and its subsidiaries [2][8] - The U.S. compounding pharmacy sector is projected to grow from $6.31 billion in 2024 to $10.76 billion by 2033, indicating significant market potential for Hydreight's expansion [8] Company Overview - Hydreight operates a fully integrated mobile clinical network comprising over 2,500 nurses and 100 doctors across the U.S., providing healthcare services directly to patients [14] - The company has a 503B pharmacy network servicing all 50 states and is closely affiliated with a certified e-script and telemedicine provider network [14] - Hydreight's proprietary platform includes tools for accounting, documentation, sales, inventory, and patient data management, enhancing service delivery [14] Partnership Details - The transaction includes a Pro-Rata Investment Right allowing Hydreight to maintain its interest in Perfect Scripts and an option to acquire up to 40% of its membership interests [2][3] - Restrictions have been placed on the number of Hydreight shares that can be issued to Perfect Scripts, capping total shares at 12,000,000 [3] - A cash finder's fee of $258,750 was paid, representing 5% of the transaction's deemed value [4] Perfect Scripts Overview - Perfect Scripts LLC is the parent company of PerfectRx LLC and operates a 503A retail pharmacy in Iowa, with a distribution center in Florida [9][10] - PerfectRx is a HIPAA-compliant mail-order pharmacy capable of processing over 150,000 prescriptions daily, with infrastructure to handle demand surges [10][11] - The company utilizes its proprietary PerfectOS platform for digital prescription intake and real-time inventory management [10][11]