- Pharmaceutical supplies and services innovator Trxade Group Inc. has announced a new B2B resource that bundles telemedicine services that may prove particularly useful for companies during the ongoing pandemic period
- Trxade Group’s new Bonum+ platform combines the power of telehealth consultation, AI-driven COVID-19 risk assessment and streamlined personal protective equipment purchasing to help manage employees’ care and performance
- The company is an emerging web-based presence in the wellness market that builds trust and independent pharmacy purchasing power through drug pricing transparency
- The company has achieved more than 50 percent penetration among the nation’s approximately 22,000 independent pharmacies.
Trxade Group (NASDAQ: MEDS) is expanding the B2B functionality of its supply chain trading platform through a first-of-its-kind bundled service that combines telehealth performance, a COVID-19 risk assessment tool and a personal protective equipment (“PPE”) purchasing tool to help businesses better deal with the medical needs of their internal corporate structures during an era of pandemic and beyond.
The company’s Bonum+ platform (http://ibn.fm/AAgH9) builds on the Bonum Health Hub wellness brand that has established a web-accessible medical consultation service in conjunction with an online prescription pharmaceutical presence (http://ibn.fm/D0N1Y) and the company’s app-accessible DelivMeds same-day / mail order pharmaceuticals delivery service (http://ibn.fm/wnW0S).
“This platform resolves a fundamental trust problem impacting employer’s safety and security policies, allowing companies to more effectively combat COVID-19 concerns in the workplace,” Bonum Health President Ashton Maaraba stated in the company’s most recent announcement. “Looking forward, we plan to continue to expand the breadth of services offered by Bonum Health, including adding a digital health hub with next-generation prescription concierge services.”
The Bonum+ platform centralizes communication and provides tools for COVID-19 contact tracing that helps companies assess employee risk profiles and respond as necessary with new PPE resources. The platform also offers health recommendations and connects employees with board certified physicians when needed, utilizing integrated artificial intelligence to streamline processes.
Trxade Group has distinguished itself as a web-based presence in the wellness market that emphasizes transparency in the pharmaceutical purchasing pipeline, empowering subscribers to assess drug prices and supply availability to make best product ordering decisions.
The company’s flagship platform has achieved more than 50 percent market penetration in attracting nearly 12,000 of the United States’ estimated 22,000 independent pharmacies so far, helping them to become more competitive with large pharmaceutical retail chains.
“Our platform lets these independents know that they’re receiving a fair price from competing suppliers on fair payment terms and often with next day delivery,” Founder, Chairman and CEO Suren Ajjarapu said in a recent earnings conference call (http://ibn.fm/HDLeo). “We believe this radical price transparency, economy of scale and competition amongst suppliers leads (to) up to 10% reduction in pharmacies’ total annual drug purchase costs, with a drug-level savings of up to 90% on certain pharmaceutical products.”
Trxade Group thereby saves pharmacists from labor-intensive cost comparisons between pharmaceutical distributors on a repetitive basis, profiting through a fee structure similar in nature to the ones employed by merchandising pioneers such as PayPal and Visa.
The company’s second quarter financial report notes that revenues increased 244 percent year-over-year for the quarter, and by 199 percent sequentially from the first quarter of the year.
“We believe that we are well positioned to execute upon the immense opportunity facing us today, supporting critical public health efforts nationwide,” Maaraba stated.
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
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