$RSHN RushNet, Inc (RSHN) Closes its 2nd Recent Acquisition of a Profitable Private Company
https://www.accesswire.com/viewarticle.aspx?id=660946
ALPHARETTA, GA / ACCESSWIRE / August 23, 2021 / RushNet, Inc (OTC PINK:RSHN), ("the Company"
is pleased to announce its second acquisition - Grandeza Healthcare.
As reported Sunday, August 22, 2021 on Newsmax, Grandeza Healthcare joined RushNet, Inc. as its newest subsidiary. This is RushNet's second acquisition in as many months. In July 2021, RushNet acquired heliosDX which is the sister company to Grandeza Healthcare, enjoying cross synergies. This is an important acquisition for RushNet as the company continues to execute its plans in bringing smaller, yet profitable companies to the public market with great products or services - companies which foster benefits to one another, enabling each to grow organically.
Grandeza was formed in January 2021, as a spin-out of its operations from heliosDX. Grandeza is a billing and coding company in the Healthcare sector. Currently, Grandeza has three main laboratories in which it processes billing while providing other services. In the coming months, Grandeza expects rapid growth as it intends to add a department within the company focused on temporary healthcare employment. More information will be disclosed in the future about how Grandeza intends to tackle this market with an acquisition of its own.
Through this calendar year (August 20, 2021), Grandeza Healthcare has produced revenues of $1,097,879 with a profit of $40,699. Grandeza Healthcare has seen its revenue continue to increase month-over-month and quarter-over-quarter. With the recent customer addition, Grandeza should achieve approximately $1,646,818 of revenues in 2021. Danielle Bauer, CEO of Grandeza Healthcare, says, "I am excited about this opportunity for Grandeza Healthcare. We provide a tremendous service to our clients and believe our billing practices and staff are some of the best in the industry. Additionally, given the heliosDX acquisitions in the healthcare industry, each contemplated to be a customer of Grandeza, our opportunities abound."
In the last 55 days, RushNet has closed on two major acquisitions. First, as of July 1, 2021, heliosDX joined RushNet. HeliosDX revenues for this calendar year, through August 20, 2021, total $3,874,789 with a staggering gross profit of $3,142,381, given its low overhead. Additionally, heliosDX has a profit of $560,056 and an EBIDTA exceeding $1,000,000 during the same period. As a customer of Grandeza, HeliosDX's operations, including its acquisitions, contribute directly to Grandeza's growth. HeliosDX's revenues increased in the past few months - averaging $600,000 per month. HeliosDX combined with Grandeza Healthcare brings RushNet's annual revenue to a run rate exceeding $7,600,000. Ashley Sweat, CEO of RushNet, Inc. and heliosDX says, "both of these acquisitions are strategic and paramount to the future of RushNet and its future. To have these acquisitions closed in such a timely manner is a testament to the internal team, accountants, attorneys, and other many individuals who worked tirelessly to get the job done and to bring value to each and to thus enable RushNet to continue its course of accretive acquisitions."
https://www.accesswire.com/viewarticle.aspx?id=660946
ALPHARETTA, GA / ACCESSWIRE / August 23, 2021 / RushNet, Inc (OTC PINK:RSHN), ("the Company"
is pleased to announce its second acquisition - Grandeza Healthcare. As reported Sunday, August 22, 2021 on Newsmax, Grandeza Healthcare joined RushNet, Inc. as its newest subsidiary. This is RushNet's second acquisition in as many months. In July 2021, RushNet acquired heliosDX which is the sister company to Grandeza Healthcare, enjoying cross synergies. This is an important acquisition for RushNet as the company continues to execute its plans in bringing smaller, yet profitable companies to the public market with great products or services - companies which foster benefits to one another, enabling each to grow organically.
Grandeza was formed in January 2021, as a spin-out of its operations from heliosDX. Grandeza is a billing and coding company in the Healthcare sector. Currently, Grandeza has three main laboratories in which it processes billing while providing other services. In the coming months, Grandeza expects rapid growth as it intends to add a department within the company focused on temporary healthcare employment. More information will be disclosed in the future about how Grandeza intends to tackle this market with an acquisition of its own.
Through this calendar year (August 20, 2021), Grandeza Healthcare has produced revenues of $1,097,879 with a profit of $40,699. Grandeza Healthcare has seen its revenue continue to increase month-over-month and quarter-over-quarter. With the recent customer addition, Grandeza should achieve approximately $1,646,818 of revenues in 2021. Danielle Bauer, CEO of Grandeza Healthcare, says, "I am excited about this opportunity for Grandeza Healthcare. We provide a tremendous service to our clients and believe our billing practices and staff are some of the best in the industry. Additionally, given the heliosDX acquisitions in the healthcare industry, each contemplated to be a customer of Grandeza, our opportunities abound."
In the last 55 days, RushNet has closed on two major acquisitions. First, as of July 1, 2021, heliosDX joined RushNet. HeliosDX revenues for this calendar year, through August 20, 2021, total $3,874,789 with a staggering gross profit of $3,142,381, given its low overhead. Additionally, heliosDX has a profit of $560,056 and an EBIDTA exceeding $1,000,000 during the same period. As a customer of Grandeza, HeliosDX's operations, including its acquisitions, contribute directly to Grandeza's growth. HeliosDX's revenues increased in the past few months - averaging $600,000 per month. HeliosDX combined with Grandeza Healthcare brings RushNet's annual revenue to a run rate exceeding $7,600,000. Ashley Sweat, CEO of RushNet, Inc. and heliosDX says, "both of these acquisitions are strategic and paramount to the future of RushNet and its future. To have these acquisitions closed in such a timely manner is a testament to the internal team, accountants, attorneys, and other many individuals who worked tirelessly to get the job done and to bring value to each and to thus enable RushNet to continue its course of accretive acquisitions."
