- Trxade’s platform is growing with 100+ new pharmacies each month
- Subsidiary Bonum Health is an affordable, convenient alternative for non-emergency care, providing healthcare services to areas where they were not accessible before
- Trxade targets U.S. independent pharmacy market with total purchases of $93 billion per annum
Integrated pharma supply chain and care platform Trxade Group Inc. (OTCQB: TRXD) is taking steps to expand its reach to areas where primary or collaborative care is not accessible, via a partnership with Benzer Pharmacy, a chain of independent retail pharmacies based in Tampa Bay. According to a company press release, the partnership between Trxade wholly-owned subsidiary Bonum Health and Benzer Pharmacy will result in the launch of a one-of-a-kind initiative, the ‘Bonum Health Hub’ (http://ibn.fm/OxSN9).
Under the agreement, the Bonum Health Hubs will be located in various urban and rural areas that lack access to this type of care and will primarily target patients who otherwise would not be able to afford primary or collaborative care. As of now, there are plans to have 100 Benzer Pharmacy locations providing collaborative care by end of 2020, with future plans for other independent pharmacies to join this endeavor, according to Trxade Chief Executive Officer Suren Ajjarapu.
The Hubs will make it possible for patients to get prescriptions if they choose to be filled at the same pharmacy as the Bonum Health Hub located. Placements with Benzer Pharmacy will ensure patients receive the highest-quality care at the Health Hubs. After launching the Benzer locations, Trxade intends to expand the Hubs into its network consisting of more than 11,000 independently registered and operating pharmacies. Trxade expects Bonum Health will rapidly gain a market share in the retail clinic space by leveraging its relationship with these networks.
“We value the patients and the communities we serve. This new milestone will not only encourage patients to take medical care into their own hands but will also allow uninsured patients to get the help they need for an affordable price, and from the convenience of a community pharmacy,” Benzer Pharmacy President Alpesh Patel stated in a news release.
Trxade has developed a proprietary web-based e-commerce platform that enables trade among pharmaceutical, accessory, and service buyers and sellers. Currently, the platform has about 11,000 pharmacies as registered users, and the company aims to reach all of the estimated 24,000 independent pharmacies currently operating in the U.S., with combined pharmaceutical purchases of $93 billion per year. The company is adding over 100 pharmacies to its platform per month. The U.S. pharmaceutical industry, which is worth $330 billion, consists of 1,500 state-wholesale licensed suppliers and more than 65,000 retail pharmacy facilities – 24,000 of which are independent.
Trxade also targets the consumer aspect of the pharmaceutical industry, aiming to lower prescription drug costs by attacking the inefficient value chain, delivering drugs directly to independent pharmacists and consumers, and offering efficient purchasing and price transparency. The company operates a full-service mail order pharmacy for U.S. consumers, as well as a mobile apps called ‘Bonumhealth’ and ‘Delivmeds’, which makes it possible to deliver dispensed prescriptions on the same day.
For more information, visit the company’s website at www.TrxadeGroup.com
NOTE TO INVESTORS: The latest news and updates relating to TRXD are available in the company’s newsroom at http://ibn.fm/TRXD