- Major first-mover advantage in proprietary web-based e-commerce platform segment
- Penetrating U.S. independent pharmacy market with total purchases of $92 billion per annum
- Adding 100+ pharmacies per month to its online purchasing platform
Trxade Group Inc. (NASDAQ: MEDS), an integrated drug delivery, procurement, and health care platform that offers health care buyers and sellers of pharmaceuticals procurement, currently has more than 11,900 pharmacies as registered users of its proprietary e-commerce platform. Registered users are under no contract of fee obligations when joining the ‘Supplier-to-Pharmacy’ (S2P) trading platform.
With the current number of users already on the network – serving an estimated 12 to 15 million patients indirectly through these member pharmacies , and adding about 100 new pharmacies per month, Trxade’s goal is to reach most, if not all, of the 24,000 independent pharmacies in the U.S., which have a combined annual purchasing power of more than $92 billion.
Leveraging a robust technology with optimum buyer/seller pricing algorithms, product availability, and predictive data analytics features, the platform is designed to help independent pharmacies identify the best available supplier prices for prescription drugs nationwide. The platform allows its members to easily compare the price of drugs offered by various suppliers and select the most favorable deals, saving them money by taking advantage of best purchase pricing.
This approach is part of Trxade’s efforts to be one of the driving forces behind a nationwide reduction of pharmaceutical and health care costs. To this end, the company is committed to developing its portfolio of products and services to drive value and growth for all members, employees and investors. Trading platform aside, Trxade also owns a mail order pharmacy and warehouse and drug delivery service through our Delivemeds (www.Delivmeds.com) and Bonum Health (www.BonumHealth.com) a Telehealth App.
The company recently launched a one-of-a-kind Telehealth initiative, called the ‘Bonum Health Hub’, together with wholly owned subsidiary Bonum Health, which partnered with Tampa Bay-based independent retail pharmacy chain Benzer Pharmacy. Bonum and Benzer will locate the Health Hubs in urban and rural areas lacking this type of care. The Hubs will provide capacities and technology to offer care to patients who can afford neither primary nor collaborative care.
The U.S. health care market is currently valued around $4 trillion. As the general population ages, further growth is expected, which in turn will have increasing impact on consumers as out-of-pocket expenses rise as well. Drug costs are expected to increase faster than overall health care costs and well above inflation. Drug pricing is variable, and reimbursement is squeezing profits. This provides significant opportunity for the Trxade model of price visibility and profit optimization.
For more information, visit the company’s website at www.TrxadeGroup.com
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS
