Wellgistics Health Enters into LOI to Acquire Kare Rx Hub

Rhea-AI Summary

Wellgistics Health (NASDAQ: WGRX) entered a non-binding letter of intent to acquire Kare Rx Hub, an AI-based digital pharmacy hub owned by Dr. Kiran Patel, in an all-stock deal expected to close by January 31, 2026. KareRx contributes a plug-and-play telemedicine pharmacy-support vertical, over 500 physician-provider relationships, >200 independent pharmacy relationships, and three manufacturer relationships. Management cites integration with a patent-protected blockchain platform via an emerging relationship with DataVault AI. The acquisition targets the expanding telemedicine remote dispensing market, projected to grow from $6.7B in 2025 to $13.57B by 2032 according to Fortune Business Insights.

Positive

• Adds >500 physician-provider relationships to network
• Adds >200 independent pharmacy relationships
• Brings three unique manufacturer relationships
• Targets telemedicine dispensing market projected $6.7B to $13.57B

Negative

• Transaction currently a non-binding letter of intent
• Deal described as a relatively small acquisition in size
• Dependence on an emerging relationship with DataVault AI

Insights

M&A and Digital Health Strategist

LOI to buy KareRx adds telemedicine dispensing, provider and pharmacy relationships; close targeted by Jan 31, 2026.

Wellgistics announced a non-binding letter of intent to acquire Kare Rx Hub in an all-stock deal expected to close by Jan 31, 2026. The deal brings a plug-and-play telemedicine pharmacy-support vertical, an AI-based digital hub, over 500 physician-provider relationships, over 200 independent pharmacy relationships, three manufacturer relationships, and integration potential with a claimed patent-protected blockchain via a relationship with DataVault AI.

As a strategic bolt-on, the acquisition could expand service breadth quickly while feeding Wellgistics Pharmacy, LLC with telemedicine-enabled dispensing capabilities. Key dependencies include the non-binding nature of the LOI, successful integration of KareRx’s platform and relationships, and retention of the named provider and pharmacy partners. The release describes the transaction as "relatively small," which limits near-term scale impact but may deliver niche capability gains.

Watch for a signed definitive agreement and closing by Jan 31, 2026, confirmation that the cited provider and pharmacy relationships will transfer and remain active, and any disclosures about the patent-protected blockchain relationship and how it will be operationalized. Near-term horizon: next 2–3 months to definitive agreement and closing; medium-term: integration milestones after close.

• KareRx to add plug & play telemedicine pharmacy-support vertical and key manufacturer relationships to Wellgistics' offering
• Telemedicine remote dispensing market expected to grow from $6.7 billion in 2025 to $13.57 billion by 2032 according to Fortune Business Insights

Tampa, Florida--(Newsfile Corp. - November 4, 2025) - Wellgistics Health, Inc. (NASDAQ: WGRX) ("Wellgistics"), a leader in next-generation pharmaceutical distribution, digital prescription routing, and AI-powered hub fulfillment, today announced that it has entered into a non-binding letter of intent to acquire Kare Rx Hub, LLC ("KareRx"), an artificial intelligence (AI)-based digital hub for retail pharmacies, telemedicine portal and specialty pharmaceutical 'lite' branded products from Kare Pharmtech, LLC, a company owned by Dr. Kiran Patel, MD. The all-stock transaction is expected to close by January 31, 2026.

"With Wellgistics' recent management upgrade and aggressive move to become the leader in Web 3.0 blockchain-enabled manufacturer-to-patient tracking and dispensing with patent protected technology via its emerging relationship with DataVault AI, it has positioned itself as the obvious solution to independent pharmacists' challenges," said Mital Panara, MBA, Founder, President & CEO of Kare Pharmtech. "Wellgistics has the scale needed to dramatically accelerate KareRx' business plan, and now also has the unique value proposition of being the only pharmacy hub services company with access to a patent-protected blockchain technology platform to squeeze the inefficiencies out from the prescription drug supply chain and last mile medication delivery to patient models."

Dr. Kiran Patel, Founder, Chairman and controlling shareholder of Kare Pharmtech, noted, "We are excited to become shareholders of Wellgistics and help them fulfill our shared vision of providing end-to-end hub services for compliance and optimization of pharmaceutical dispensing to independent pharmacies."

"While a relatively small acquisition in size, KareRx has built a number of key features that will make its platform and existing relationships a significant value add for Wellgistics," said Prashant Patel, RPh, President and Interim-CEO of Wellgistics. "KareRx' telemedicine offering will allow our online pharmacy Wellgistics Pharmacy, LLC to be quickly integrated and made available to support telemedicine providers nationwide who are now caring for patients with increasingly complex medical conditions, especially chronic conditions. Further, KareRx will bring with it over 500 unique physician-provider relationships, over 200 independent pharmacy relationships that will add to our independent pharmacy network, and three unique manufacturer relationships in areas with significant growth potential with products in areas with unmet medical need. Most importantly, KareRx will bring with it a team of seasoned healthcare professionals with deep industry expertise who will have the platform needed to reach their full potential. Taken together, we think this transaction will be a significant benefit for all parties."

The remote telemedicine remote dispensing market expected to grow from $6.7 billion in 2025 to $13.57 billion by 2032 according to Fortune Business Insights.

About Kare Rx Hub, LLC

Kare Rx Hub is an artificial intelligence (AI)-based digital hub for retail pharmacies, telemedicine portal, and specialty pharmaceutical 'lite' branded products with over 500 physician-provider relationships, 200 independent pharmacy relationships that market three unique specialty pharmaceutical 'lite' products. Kare Rx Hub is owned by Kare Pharmtech, a company controlled by Dr. Kiran Patel. Dr. Patel founded Medicaid provider WellCare in 1992 and sold it in 2002 for $200 million. In 2007, Dr. Patel founded America's 1^st Choice Holdings and acquired Freedom Health and Optimum Holdings. In 2017, he sold America's 1^st Choice Holdings to Anthem, Inc. Dr. Patel is a noted philanthropist and was named Floridian of the Year by Florida Trend Magazine.

About Wellgistics Health, Inc.

Wellgistics Health (NASDAQ:WGRX) delivers medications from manufacturer to patient-faster, smarter, and more affordably. Its integrated platform connects 6,500+ pharmacies and 200+ manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility, adherence, onboarding, prior authorization, and cash-pay fulfillment. As a PBM-agnostic alternative, Wellgistics provides end-to-end solutions designed to restore access, transparency, and trust in U.S. healthcare.

For more information, visit www.wellgisticshealth.com.

Forward-Looking Statements

This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, statements regarding Wellgistics Health's strategy and descriptions of its future operations, prospects, and plans. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially. Additional factors are discussed in Wellgistics Health's filings with the SEC, available at www.sec.gov.

Media & Investor Contact

Media:
media@wellgisticshealth.com

Investor Relations:
IR@wellgisticshealth.com

Investor Relations Contact

Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
Office: (646) 893-5835
Email: info@skylineccg.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273075

FAQ

What did Wellgistics (WGRX) announce on November 4, 2025 about Kare Rx Hub?

Wellgistics announced a non-binding LOI to acquire Kare Rx Hub in an all-stock deal expected to close by January 31, 2026.

How many physician and pharmacy relationships does Kare Rx Hub add to WGRX?

KareRx brings over 500 physician-provider relationships and over 200 independent pharmacy relationships.

Will the KareRx acquisition expand Wellgistics' telemedicine capabilities for WGRX?

Yes. KareRx adds a plug-and-play telemedicine pharmacy-support vertical to integrate with Wellgistics Pharmacy for nationwide telemedicine dispensing.

Is the Wellgistics–KareRx deal cash or stock for WGRX shareholders?

The announced transaction is an all-stock deal.

What is the market opportunity cited for WGRX's telemedicine dispensing strategy?

The remote telemedicine dispensing market is cited at $6.7 billion in 2025, growing to $13.57 billion by 2032.

What are key risks investors should note about the WGRX acquisition of KareRx?

Key risks include the transaction being a non-binding LOI, the acquisition's described small size, and reliance on an emerging blockchain relationship.