$RSHN RushNet, Inc (RSHN) Subsidiary heliosDX Surpasses Major Financial Milestone, on Track with 2021 Stretch Target of $6 Million in Revenue
ALPHARETTA, GA / ACCESSWIRE / September 13, 2021 / RushNet, Inc. (OTC PINK:RSHN), ("the Company"
is pleased to announce that its subsidiary heliosDX has reached a major milestone in pursuit of continued growth for 2021 and relative stretch targets. As of the week ending September 10th for 2021, heliosDX has surpassed the 2020 annual revenue with $4,305,744.84 revenue YTD with $3,504,667.24 gross profit. heliosDX is on track to achieve annual revenues of $6,000,000 by the end of 2021. With continued focus on growth in the infectious disease (PCR) and the Behavioral Toxicology service arenas, management believes heliosDX is in a strong position to meet and/or surpass its stretch target.
heliosDX had annual revenues in 2019 of $2,639,454.58 and in 2020 of $4,294,435.82 which is an increase of over 60% year-over-year. To have passed 2020 annual revenue in 2021 at this time of the year is a tremendous accomplishment. The company continues to execute the growth plan as seen through its continued record-breaking revenues and gross profit.
Additionally, reinforcing Rushnet, Inc's financial strength, through this calendar year (September 13, 2021), Grandeza Healthcare has produced revenues of $1,275,218.71 and continues to remain profitable. Grandeza Healthcare has seen its revenue continue to increase month-over-month and quarter-over-quarter. With the current 2021 monthly trend, Grandeza is well suited to achieve nearly $1,700,000 in annual revenue to exceed its stretch target. Danielle Bauer, CEO of Grandeza Healthcare, says, "we continue to believe in Grandeza's revenue growth, combined with the recent targeted acquisition, the future is bright. "
HeliosDX combined with Grandeza Healthcare brings RushNet's annual revenue to a run rate exceeding $7,800,000 in comparison to August's previously announced trend towards $7.6 million combined annual revenue. RushNet continues to execute its goal 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. In the coming months, Grandeza expects rapid growth as it intends to add a department within the company focused on temporary healthcare employment. heliosDX, as previously stated, continues to grow its services surrounding Infectious Disease and Behavioral Toxicology to further strengthen its revenues and achieve the 2021 stretch target.
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. These two acquisitions are intended to set the foundation for Rushnet, Inc and pave the way for the future. Rushnet recently signed a term sheet with a private family office to provide funding up to $20,000,000. These funds are being committed to further position Rushnet, heliosDX and Grandeza Healthcare through contemplated acquisition and growth initiatives.