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TRxADE Health, Inc. (NASDAQ: MEDS) is a pioneering health service IT company based in the United States, dedicated to revolutionizing the retail pharmacy experience. Through its innovative platform trxade.com, the company provides a comprehensive web-based pharmaceutical purchasing and analytics system. This platform allows licensed pharmaceutical buyers, including pharmacies, long-term care facilities, hospitals, and physicians, to shop, compare products, and pricing from pharmaceutical suppliers nationwide. TRxADE’s platform enhances supplier competition, driving down costs for buyers while offering a secure and easy-to-manage location for all purchase activities.
TRxADE’s portfolio encompasses various products and services such as Integra Pharma Solutions, LLC, Community Specialty Pharmacy, LLC, Delivmeds.com, and the Bonum Health Hub and Application. The company's business segments include TRxADE, Inc., Superlatus, LLC, Integra Pharma, LLC, among others, with the majority of its revenue coming from TRxADE, Inc.
In recent developments, TRxADE Health has merged with Superlatus, Inc., a leading food technology and distribution company. This merger includes a binding agreement to acquire The Urgent Company Inc. and its popular consumer brands such as Coolhaus, Brave Robot, Modern Kitchen, and California Performance Co.. The acquisition aims to elevate TRxADE Health's position in sustainable and fair food products, facilitating entry into new markets and increasing market share. Superlatus is set to introduce innovative snack products like pulse-based twisted protein snacks through its Brave Robot brand, leveraging advanced food extrusion technology developed by Sapientia Technology, LLC.
These strategic moves align with TRxADE Health’s vision of expanding its market presence and fostering growth. The acquired consumer brands are already available in over 6,000 retail stores across the nation, including Whole Foods, Thrive Market, Kroger, and Costco, among others. The company’s commitment to enhancing the retail pharmacy and food technology sectors underscores its significant role in these industries.
For more information, visit TRxADE Health, Inc..
Trxade Group, Inc. (MEDS) has announced the postponement of its virtual roadshow, originally set for February 3, 2021. The new date will be communicated through a future press release, which will include webcast links and dial-in information. CEO Suren Ajjarapu expressed gratitude to shareholders for their patience while emphasizing the company's focus on achieving short-term business objectives. Trxade Group operates as a comprehensive drug procurement and healthcare platform across the U.S. with a mission to enhance price transparency in the pharmaceutical market.
Trxade Group, Inc. (NASDAQ:MEDS) will hold a virtual roadshow on February 3, 2021, at 11:00 a.m. Eastern Time. CEO Suren Ajjarapu will present the company’s business model and growth initiatives, followed by a Q&A session. Interested participants can join via the provided webcast link or dial-in numbers. The U.S. Dial-in is 1-877-425-9470, and the International Dial-in is 1-201-389-0878. A playback will be accessible until February 17, 2021, with additional information available on the Trxade Group website.
Trxade Group (NASDAQ: MEDS) announced a strategic partnership between its telehealth subsidiary, Bonum Health, and KPH Healthcare Services. This collaboration aims to provide affordable telemedicine services to approximately 100 Kinney Drug retail pharmacies in New York and Vermont and over two million Rx discount card members from ProAct, Inc. By leveraging Bonum Health's mobile B2C clinical technology, the partnership enhances access to virtual medical consultations, thereby addressing healthcare needs amid COVID-19. The initiative seeks to improve medication adherence and overall health outcomes for patients in the region.
Trxade Group (MEDS) announced its participation in the Diamond Equity Research Emerging Growth Invitational on December 1, 2020. CEO Suren Ajjarapu will lead a virtual presentation at 3:40 p.m. ET, followed by a Q&A session. This conference showcases emerging growth companies, and Trxade aims to enhance investor engagement and showcase its integrated drug procurement and healthcare services. A live audio webcast and an archived replay will be available post-event, facilitating broader accessibility.
Trxade Group (MEDS) announced participation in the Virtual Fall Investor Summit on November 17, 2020, at 2:30 p.m. Eastern Time. CEO Suren Ajjarapu will engage in one-on-one meetings and present about the company's integrated drug procurement and healthcare platform, which focuses on price transparency and accessibility. The event runs from November 16-18, 2020, and a live audio webcast will be available for public access through a specified link until November 16, 2021.
Trxade Group (NASDAQ: MEDS) reported a 174% revenue increase to $6.3 million in Q3 2020, driven by strong PPE sales amid the COVID-19 pandemic. Gross profit rose 47% to $1.9 million, but gross margin fell to 30.5%. Net income surged 402% to $0.14 million with adjusted EBITDA up 150%. The company expanded its platform by adding 144 new pharmacies, totaling around 11,800. Additionally, Trxade launched Bonum+, a B2B telehealth solution for corporate clients, enhancing its service offerings amidst ongoing healthcare challenges.
Trxade Group (MEDS) will announce its third-quarter financial results on October 26, 2020, after market close. A conference call is scheduled for the same day at 5:00 p.m. Eastern time to discuss the results, with a Q&A session following. Interested participants should dial in at least 10 minutes early. A playback will be available through November 26, 2020. Trxade Group focuses on improving the affordability and accessibility of healthcare through its integrated platforms.
Trxade Group (NASDAQ: MEDS) announced a partnership between its Bonum Health subsidiary and SingleCare to enhance telehealth solutions with prescription discounts. This initiative aims to support uninsured and underserved communities amid rising healthcare costs due to COVID-19. Bonum Health offers affordable virtual consultations by licensed medical professionals. The partnership is designed to help more consumers access low-cost medications and improve adherence to prescriptions, with SingleCare providing discounts of up to 80% on prescriptions.
Trxade Group (NASDAQ: MEDS) will participate in two upcoming investor conferences in September 2020. The first is the Colliers Institutional Investor Conference on September 10, followed by the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16. CEO Suren Ajjarapu will host a virtual presentation at the Wainwright event and engage in one-on-one meetings. Trxade Group aims to enhance healthcare access and affordability through its integrated drug procurement and delivery platform, operating across all 50 states.
Trxade Group, Inc. (NASDAQ: MEDS) has introduced the Bonum+ platform, a comprehensive Business-to-Business (B2B) solution combining telehealth services, a COVID-19 risk assessment tool, and PPE purchasing options through a secure mobile dashboard. This innovative platform facilitates daily health reporting for employees, enhancing monitoring capabilities for employers. It features an AI tool providing health recommendations and access to board-certified physicians. The initiative aims to bolster workplace safety amidst ongoing COVID-19 challenges and anticipates further service expansions, including digital health concierge services.
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