TRxADE Group, Inc. Announces Name Change to TRxADE HEALTH, INC.

Rhea-AI Summary

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.

Positive

• Name change reflects strategic focus shift to health services IT.
• Continued stock trading under symbol MEDS.
• Marketplace serves over 12,100 members, enhancing pricing transparency.

Negative

• None.

TAMPA, FL / ACCESSWIRE / May 28, 2021 / TRxADE Group, Inc. (NASDAQ:MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced that the Company will be changing its name to TRxADE HEALTH, Inc., effective Tuesday, June 1, 2021, to reflect its new mission and strategic direction of the business.

The name change does not affect the rights of the Company's stockholders, creditors, customers or suppliers. The Company's common stock will continue to trade on the NASDAQ Capital Market under the current trading symbol "MEDS". The Company's current stockholders will not need to exchange their current stock certificates as the stock certificates reflecting the Company's prior corporate name will continue to be valid. The name change is expected to be effective on The Nasdaq Capital Market on Tuesday, June 1, 2021.

"In 2020, we formed several companies focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. We believe the name "TRxADE HEALTH, INC." will better describe the changed focus of the Company, to a health services IT company focused on digitalizing the retail pharmacy experience," said Suren Ajjarapu, Chief Executive Officer of the Company.

About TRxADE Group, Inc.

TRxADE Group (NASDAQ: MEDS) is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The Company operates the TRxADE drug procurement marketplace serving a total of 12,100+ members nationwide, fostering price transparency and under the Bonum Health brand, offering patient centric telehealth services. For more information on TRxADE Group, please visit the Company's IR website at investors.trxadegroup.com.

Investor Relations:

Lucas Zimmerman
Senior Vice President
MZ Group - MZ North America
(949) 259-4987
MEDS@mzgroup.us
www.mzgroup.us

SOURCE: Trxade Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/649589/TRxADE-Group-Inc-Announces-Name-Change-to-TRxADE-HEALTH-INC

FAQ

When is TRxADE Group's name change to TRxADE HEALTH effective?

The name change is effective on June 1, 2021.

What is the new focus of TRxADE Group after the name change?

The new focus is on digitalizing the retail pharmacy experience.

Will TRxADE Group's stock symbol change after the name change?

No, the stock will continue to trade under the symbol MEDS.

How many members does TRxADE's drug procurement marketplace serve?

The marketplace serves over 12,100 members nationwide.

Will the current stock certificates need to be exchanged after the name change?

No, current stock certificates will remain valid and do not need to be exchanged.