TRxADE HEALTH, Inc. - MEDS STOCK NEWS

Superlatus, Inc. has signed a definitive agreement to be acquired by TRxADE HEALTH, Inc. Shareholders of Superlatus will receive 173,463 shares of MEDS stock. MEDS plans to divest its existing operating business and assets. The Merger is subject to closing conditions including completion of due diligence and regulatory approvals. The combined company will focus on creating an innovative global consolidation platform for the food and healthy snack industry.

Eat Well Investment Group Inc. has entered into a membership interest purchase agreement to sell its subsidiary Sapientia Technology Inc. to Superlatus, Inc. as part of a NASDAQ merger with TRxADE HEALTH, Inc. The sale of Sapientia allows Eat Well Group to focus on its agricultural strategy and pursue M&A opportunities.

TRxADE Health, Inc. (Nasdaq: MEDS) has approved a 1-for-15 reverse stock split of its common stock. The split will reduce outstanding shares from 10,210,878 to 680,726, resulting in an expected increase in the bid price of the stock. The reverse stock split aims to increase marketability to potential investors.

TRxADE HEALTH INC. (NASDAQ:MEDS) will release its financial results for the first quarter of 2023 on May 8, 2023, after market close. The results will be discussed in a conference call at 5:00 p.m. Eastern time on the same day. Interested participants can join via a toll-free U.S. number or an international dial-in. TRxADE focuses on optimizing the retail pharmacy experience, utilizing technology to enhance drug procurement and patient engagement. The company serves over 14,500 members, promoting price transparency and offering telehealth services under the Bonum Health brand. A playback of the conference call will be accessible until June 8, 2023, providing further insights into the company's financial performance.

TRxADE Health, a digital healthcare services IT company, reported a 16% revenue increase to $11.4 million for the fiscal year 2022, up from $9.9 million in 2021. Key growth drivers included a 10% increase in revenues from the TRxADE Platform and a 46% rise from Trxade Prime, despite a 29% revenue decline in its Community Specialty Pharmacy unit. The firm's gross profit remained steady at 48%, and net losses narrowed to $3.9 million, down from $5.3 million in 2021. The company expanded its registered users by 8%, totaling over 14,400. A conference call is scheduled for March 27, 2023, to discuss these results.