TAMPA, FL, Aug. 30, 2022 (GLOBE NEWSWIRE) -- TRxADE HEALTH, INC. (NASDAQ: MEDS)(“TRxADE” or the “Company”) an integrated drug procurement, delivery, and healthcare marketplace platform that connects buyers and sellers, today announced the launch of the Trxade Prime Plus program via its pharmaceutical wholesale business subsidiary, Integra Pharma Solutions LLC (d/b/a TRxADE Prime), to allow its member pharmacies better access to over 20,000 pharmaceutical products available for next day delivery without them incurring any additional shipping costs.
The Company, which distributes generic and brand medications directly in 34 states through its warehouse operations, will now offer pharmacies improved supply chain logistics. The new program offering signifies TRxADE’s commitment to its network of independent pharmacies by optimizing pharmaceutical distribution while simultaneously lowering product costs via its proprietary technology platform.
Jariel (Jay) Morales, Executive Vice President of Operations for TRxADE states, “We are excited about the launch of TRxADE Prime Plus and feel confident that the offering will position our pharmacy buyers for success as delivery timelines can now be reduced significantly on the Trxade Prime program ensuring we meet our customers’ needs of on demand inventory with as late as an 8 PM cutoff for next day delivery. Pharmacy partners that wish to join TRxADE Prime Plus will now be able to access even lower pricing on pharmaceuticals negotiated by TRxADE with national suppliers and the assurance and commitment of quality service without legacy chargeback or surcharge costs. We expect that this new program offering will improve gross revenues for TRxADE as there will be less deterrents for pharmacy buyers, as we continue to make it easier for our members to maximize their savings and thrive in today’s market.”
Dr. Shafaat Pirani, PharmD, BCGP, Chief Clinical and Compliance Officer for TRxADE added, “We believe that the Trxade Prime Plus program is a vital step in maintaining TRxADE’s position as one of the leaders in pharmaceutical marketplace supply chain distribution for pharmacies and medical offices by providing access to lower priced pharmaceuticals, through an efficient AI-driven platform, with a single access point designed to drive compliance. We have found that independent pharmacies want to make a positive impact on patient outcomes and we believe that starts with their patients receiving medically necessary prescriptions in a timely manner.”
“We are pleased to announce our new TRxADE Prime Plus program for our independent pharmacies, as it will improve pharmacy turnaround time on prescription procurement and dispensing. At TRxADE, we value our loyal pharmacy buyer and view the relationship as a partnership. We listen to their feedback and pain points and work to develop innovative solutions that put our independent pharmacies in a position to succeed in an everchanging competitive healthcare landscape,” said Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE.
About TRxADE HEALTH, INC.
TRxADE (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 13,815+ members nationwide, fostering price transparency and under the Bonum Health brand, offering patient centric telehealth services. For info on TRxADE HEALTH, please visit the Company's IR website at investors.trxadegroup.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 meaning of the federal securities laws, including the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. 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. 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 risks include risks relating to agreements with third parties, including Coborn's and Galt Pharmaceuticals; our ability to raise funding in the future, as needed, and the availability and terms of such funding, including potential dilution caused thereby; our ability to continue as a going concern; the planned benefits, expected users of, and projected revenues of our venture with Exchange Health; amounts we owe and may owe to Exchange Health in connection with the arrangement with Exchange Health; security interests under certain of our credit arrangements; the fact that we are exploring strategic alternatives for our Bonum Health, Inc. subsidiary; our operations not being profitable; the commercial viability of new business lines, applications, products and technologies, and the costs of such items; the Company's stock repurchase program; the adoption of the Company's product offerings; claims relating to alleged violations of intellectual property rights of others; our ability to monetize our technological solutions; technical problems with our websites, apps and products; risks relating to implementing our acquisition strategies; challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic and related matters; our ability to manage our growth; negative effects on our operations associated with the opioid pain medication health crisis; regulatory and licensing requirement risks; risks related to changes in the U.S. healthcare environment; the status of our information systems, facilities and distribution networks; risks associated with the operations of our more established competitors; regulatory changes; new competitors which may have more resources than we do; increases in direct to consumer sales of drugs; healthcare fraud; COVID-19, governmental responses thereto, economic downturns and increased inflation and possible recessions caused thereby; changes in laws or regulations relating to our operations; privacy laws; system errors; dependence on current management; our growth strategy; dilution which may be caused by future offerings; our ability to maintain the listing of our common stock on the Nasdaq Capital Market, including our current non-compliance with Nasdaq’s continued listing standards; increased inflation, increases in interest rates and supply chain issues caused by among other things, recessions and global conflicts; and others that 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 (SEC), and more particularly in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and our Annual Report on Form 10-K for the year ended December 31, 2021. 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.
Media Contact: IR@trxade.com
