Trxade Group Announces Strategic Telehealth Partnership with KPH Healthcare Services

Rhea-AI Summary

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.

Positive

• Strategic partnership with KPH Healthcare Services enhances Bonum Health's service reach.
• Telehealth services will be offered to approximately 100 retail pharmacies and over two million Rx discount card members.
• The partnership aims to improve accessibility and affordability of medical care, particularly during COVID-19.

Negative

• None.

Bonum Health, Trxade Group's Telehealth Subsidiary, Signs Strategic Partnership with Large Retail Pharmacy Chain in Northeastern U.S.

TAMPA, FL / ACCESSWIRE / December 10, 2020 / Trxade Group, Inc. (NASDAQ:MEDS), an integrated drug procurement, delivery and healthcare platform, today announced that its telehealth subsidiary, Bonum Health, signed a strategic partnership with KPH Healthcare Services ("KPH"), a leading pharmaceutical and healthcare services provider.

Per the terms of the agreement, Bonum Health will provide affordable telemedicine services to two divisions of KPH Healthcare Services, Inc. the patients of approximately 100 Kinney Drug retail pharmacies in New York and Vermont, and, the more than two million Rx discount card members of Kinney's sister company, ProAct, Inc., a fully integrated pharmacy benefits manager with a wholly owned mail order pharmacy.

The Bonum Health division of Trxade Group provides a mobile, B2C clinical technology platform and telehealth solution that enables virtual medical and provider services at deeply discounted rates. Through Bonum Telemedicine, an entire household can receive virtual consultations by board-certified Medical Doctors, anywhere, anytime for a low monthly subscription fee.

Kinney Drugs selected Bonum Health for its interoperable telemedicine platform which seamlessly integrates with pharmacy services and staff workflow. These emerging value-based digital health care models enable physicians and pharmacists to improve both accessibility and affordability, improving medication adherence rates and health outcomes.

"As our country continues to battle COVID-19, this partnership will make basic medical care more accessible to our patients and their families," said John M. Marraffa, Jr., R.Ph., VP of Government Affairs and Healthcare Services Integrations at KPH Healthcare Services. "Once a patient has completed a telehealth visit, the Bonum Health Provider can use the platform's EMR to write prescriptions. The patient will then be able to select a prescription discount savings plan directly from the network. KPH is excited to partner with Bonum to advance the health care needs of our patient community. Convenient and affordable access to medical care will benefit our patients for years to come."

Ashton Maaraba, President of Bonum Health has positioned them as a disruptor of telehealth services, leveraging a unique platform and service model that pharmacists and their patients can trust. Maaraba notes, "We are thrilled to have established this partnership with the KPH team, whose deep-rooted commitment to their patients and communities' dates back to 1903," said Ashton Maaraba, President of Bonum Health. "Our team of medical providers are ready to work in collaboration with Kinney Drugs and ProAct Pharmacists to deliver affordable care to their patient community. With nearly 26 million uninsured or under-insured people in the U.S., partnerships such as these will help narrow gaps and reduce barriers to affordable, accessible care for all."

About KPH Healthcare services, Inc.

KPH Healthcare Services is a 100% employee-owned national provider of pharmaceutical and healthcare services with complementary businesses in both the retail and commercial segments of the industry. KPH is comprised of six divisions: (1) Kinney Drugs, a chain of full-service drug stores located throughout New York and Vermont; (2) Health Direct Institutional Pharmacy Services, which serves long-term care and alternative care needs; (3) ProAct, Inc., a pharmacy benefit management company with sales offices throughout the country and a mail-order pharmacy; (4) Noble Health Services, a specialty pharmacy that dispenses medications used to treat complex and chronic diseases; (5) Kinnect™, an on-site clinical care pharmacy; and (6) Aristacare, an infusion therapy pharmacy that offers both in-home infusion therapy (with HomeLife specialized nursing support) and operates an ambulatory infusion center. KPH Healthcare Services is an employee-owned company with approximately 4,300 employees that provides the highest quality pharmacy and healthcare services. Every aspect of KPH's business is guided by the values of excellence, moral responsibility, and community spirit. For more information, please visit https://www.kphhealthcareservices.com/en/.

About Trxade Group, Inc.

Headquartered in Tampa, Florida, Trxade Group, Inc. (NASDAQ:MEDS) is an integrated drug procurement, delivery and healthcare platform that fosters price transparency, thereby improving profit margins for both buyers and sellers of pharmaceuticals. Trxade Group operates across all 50 states with the central mission of making healthcare services affordable and accessible. Founded in 2010, Trxade Group is comprised of three synergistic operating platforms; (1) the Trxade B2B trading platform with around 11,800 registered pharmacies, (2) Integra Pharma Solutions, Trxade Group's virtual wholesale division, and (3) the Bonum Health platform offering affordable telehealth services. For additional information, please visit us at www.trxade.com or at www.bonumhealth.com.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of Trxade's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Trxade, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in filings made by Trxade with the Securities and Exchange Commission, including, but not limited to, in the "Risk Factors" sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which it has filed, and files from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on Trxade's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Trxade cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Investor Relations:

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

SOURCE: Trxade Group, Inc.

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FAQ

What is the recent partnership announced by Trxade Group (MEDS)?

Trxade Group's telehealth subsidiary, Bonum Health, has signed a strategic partnership with KPH Healthcare Services to provide affordable telemedicine services.

How does the partnership benefit patients of Kinney Drug retail pharmacies?

The partnership aims to provide telemedicine services to patients at 100 Kinney Drug retail pharmacies, enhancing access to medical consultations and improving health outcomes.

When was the partnership between Trxade Group and KPH Healthcare Services announced?

The partnership was announced on December 10, 2020.

What services will Bonum Health provide through its partnership with KPH?

Bonum Health will offer telemedicine services, allowing virtual consultations with board-certified Medical Doctors for patients of KPH's pharmacy network.