Trxade Group Subsidiary Bonum Health Announces Prescription Savings Partnership with SingleCare

Rhea-AI Summary

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.

Positive

• Partnership with SingleCare enhances Bonum Health's telehealth offerings.
• Focus on providing prescription discounts supports uninsured patients.
• SingleCare can save customers up to 80% on prescriptions, improving medication access.

Negative

• None.

TAMPA, FL, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Trxade Group Inc. (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, today announced that its Bonum Health subsidiary has partnered with SingleCare, the prescription savings service, to enhance Bonum’s enterprise telehealth solutions with prescription discounts powered by SingleCare. The enterprise service will be offered to national, regional and local pharmacies to promote the benefit to uninsured patients and underserved communities.

The increasing cost of healthcare has been exacerbated by the economic pressures of COVID-19, especially for the millions of recently unemployed across America. Bonum Health enables convenient access to affordable care with its clinical technology platform and telehealth solutions that offer virtual medical and provider services at deeply discounted rates. Through these telehealth solutions, an entire household can receive a virtual consultation by board-certified medical doctors, anywhere, at any time.

SingleCare is a free prescription savings service that is providing millions of consumers across America with consistently low prices to improve access and adherence to medication. SingleCare is able to save customers up to 80% on their prescriptions. Most people don’t realize they can shop for better prices on their medications. SingleCare provides consistently low prices, and it can often be cheaper than a copay – so whether or not you have insurance, it’s always worth checking.

Bonum Health President, Ashton Maaraba, credits the team’s innovative thinking and complementary community-driven strategy. “The Bonum Health and SingleCare teams understand the importance of integrating and sustaining an affordable healthcare solution at pharmacy point-of-care. We are veterans in promoting quality healthcare service-driven programs at the pharmacy level and differentiate by providing transparent and affordable benefits that pharmacy partners and their patient community can trust, “ said Maaraba.

“We’re pleased to partner with Bonum Health as it allows us to expand our pharmacy distribution channels where SingleCare is offered, and help more consumers with access and adherence to affordable medication,” said John Zevzavadijan, President of Enterprise Platform Services at SingleCare.

About SingleCare

SingleCare^®️ is a free prescription savings service that provides consistently low prices to improve access and adherence to medication. It handles hundreds of thousands of prescriptions per day and is helping millions of people across the U.S. save a significant amount of money on their prescriptions. Through a combination of innovative technology and direct contracts with pharmacies, SingleCare allows consumers to access prescription savings at pharmacies near them via the mobile app or discount cards available on SingleCare.com. SingleCare partners with the country’s leading pharmacy companies covering 35,000 pharmacies nationwide. SingleCare is headquartered in Boston with offices in New York City, greater Philadelphia and West Palm Beach, Fla. For more information, visit singlecare.com or download SingleCare on iOS or Android.

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

FAQ

What is the purpose of the partnership between Trxade Group and SingleCare?

The partnership aims to enhance Bonum Health's telehealth solutions by providing prescription discounts to support uninsured and underserved communities.

How much can SingleCare save consumers on prescriptions?

SingleCare can save customers up to 80% on their prescriptions, making medications more affordable.

When was the partnership between Trxade Group and SingleCare announced?

The partnership was announced on October 13, 2020.

What services does Bonum Health offer?

Bonum Health provides affordable telehealth services including virtual consultations with board-certified medical doctors.

What is Trxade Group's stock symbol?

Trxade Group trades under the stock symbol 'MEDS' on NASDAQ.