TRxADE HEALTH, Inc. - MEDS STOCK NEWS

TRxADE HEALTH (NASDAQ:MEDS) has launched an eGift Card program through its telehealth subsidiary, Bonum Health, providing uninsured consumers access to vital healthcare services. These pre-paid digital passes allow individuals to receive medical consultations from over 650 board-certified providers nationwide. The initiative aims to assist low-income individuals, particularly seniors, in obtaining necessary healthcare conveniently. Bonum Health's eGift cards can be purchased in various quantities, enhancing access to telemedicine, and addressing gaps created by decreased insurance coverage due to COVID-19.

TRxADE HEALTH (NASDAQ:MEDS) reported its Q2 2021 financial results, revealing revenues of $1.9 million, a decline from $6.6 million in Q2 2020, primarily due to the absence of non-recurring PPE sales. However, the gross profit margin expanded significantly to 44.3%, up from 30.4% year-over-year, aided by reduced low-margin PPE sales. Operating expenses rose to $3.4 million, influenced by a $1.2 million inventory investment loss. The net loss widened to $2.6 million, or ($0.32) per share. Cash reserves decreased to $4.5 million as of June 30, 2021.

TRxADE HEALTH INC. (NASDAQ:MEDS) announced a partnership with Southeastern Grocers' Winn-Dixie, Harveys, and Fresco y Más to provide telemedicine services through its subsidiary, Bonum Health. This deal will enable affordable healthcare solutions, including up to 80% savings on prescriptions, to millions of uninsured residents across Florida, Alabama, Louisiana, Georgia, and Mississippi. Bonum Health’s app, featuring over 600 board-certified providers, aims to enhance in-store digital healthcare services.

TRxADE HEALTH (NASDAQ:MEDS) will release its Q2 2021 financial results on July 26, 2021, after market close. The company focuses on digitalizing the retail pharmacy experience in the U.S. and operates a procurement marketplace with over 12,100 members. A conference call to discuss the results will take place on the same day at 5:00 p.m. Eastern Time, followed by a Q&A session. Playback options will be available through August 26, 2021. For more information, visit TRxADE's investor relations website.

TRxADE HEALTH (NASDAQ:MEDS) announced a partnership between its subsidiary Bonum Health and Big Y Foods to provide affordable telemedicine services in Massachusetts and Connecticut. This deal will allow Big Y pharmacy patients access to telemedicine through Bonum Health's mobile services, supported by over 600 certified medical providers. The collaboration aims to bridge the healthcare access gap for underserved populations and enhance Big Y's digital healthcare offerings. This partnership is expected to improve patient care and drive business growth.

TRxADE HEALTH (NASDAQ:MEDS) has launched the MedCheks Health Passport app for iOS, allowing users to securely upload and share their vaccination or COVID test results. This app generates a QR code enabling users to provide proof of health records for entry into various establishments where verification is required. Designed to streamline the verification process, it targets businesses, transportation providers, and event organizers, offering a digital solution as economies reopen. The company aims to expand its partner network and enhance overall operational safety.

TRxADE HEALTH, INC. (NASDAQ:MEDS) announced a stock repurchase program authorizing buybacks of up to $1.0 million of its common stock. This initiative aims to enhance shareholder value by reducing outstanding shares while maintaining sufficient cash for operations. The company had approximately $5.2 million in cash as of March 31, 2021, with 8,125,362 shares outstanding. The repurchase will be conducted at management's discretion, considering market conditions and the company's financial performance. This program indicates a commitment to shareholder returns.

TRxADE HEALTH, INC. (NASDAQ:MEDS) will present at the LD Micro Invitational XI on June 9, 2021, at 5:30 p.m. EDT, focused on enhancing the retail pharmacy experience in the U.S.

The company's CEO, Suren Ajjarapu, will lead a virtual presentation, accessible through a live audio webcast. The event takes place from June 8-10, 2021. TRxADE aims to optimize drug procurement and patient engagement.

For more details, visit their event registration page.

TRxADE Group, Inc. (NASDAQ:MEDS) will change its name to TRxADE HEALTH, Inc. on June 1, 2021, to better reflect its focus on digitalizing the retail pharmacy experience. This change aims to optimize drug procurement and enhance patient engagement. The name change does not impact stockholder rights, and current stock certificates remain valid. TRxADE operates a drug procurement marketplace with over 12,100 members, promoting price transparency and offering telehealth services under the Bonum Health brand.