- Trxade
Group Inc.’s technologically nimble health care platform and network help
community-based pharmaceuticals meet the challenges of providing
medications and medical consultation at lowering costs with efficiency and
operational transparency
- The
company’s year-end financial statement for 2019 shows revenues grew by
nearly double over the previous year, and company officials expect to
continue building on their success for 2020
- As the
current novel coronavirus pandemic drives quarantine-like social
distancing policies, Trxade’s telehealth services make it easier for
patients to access licensed medical professionals from virtually anywhere
via personal technology for consultation
- The
company’s ‘Bonum Health Hub’ will include free prescription delivery to
subscribers via Trxade’s DelivMeds subsidiary
Year-end financial results reported by Trxade Group Inc. (NASDAQ: MEDS) underscore the
company’s expectations that 2020 will be a successful year of growth for the
integrated pharmaceutical services firm (http://ibn.fm/wzTRs) despite the economic ravages
industries are experiencing worldwide as a result of the COVID-19 pandemic.
Trxade reported a 94.1 percent increase in annual revenues
at the end of 2019, primarily as a result of growth in fee income for
medications listed on the company’s web-based market platform that enables trading
among health care buyers and sellers of pharmaceuticals, accessories and
services. Sales fees are associated with sales from generic, brand and other
over the counter medications (http://ibn.fm/DpN4l).
Because 2019 was also the first year that revenues from
Community Specialty Pharmacy’s operations were reflected across all 12 months
of the year, the web-accessible pharmaceutical operation also was a significant
driver in the year-end results. Trxade also saw operating income rise from a
loss of $87,616 in 2018 to a gain of $125,244.
The growing smart technology utility of Trxade’s subsidiary
operations is an exciting achievement, beginning to come online right in the
middle of the worldwide pandemic threat that has led hospitals and clinics to
scale back their accessibility in order to help prevent the spread of the
virus, focus their resources on “essential” emergency services without becoming
overwhelmed, and to reduce expenses related to non-essential employees during
the pandemic-response interim.
Trxade’s ‘Bonum Health Hub’ availability as a service that
lets patients obtain medical consultation via secure, privacy-enabled smart
technology without the need for in-person clinic visits furthers health officials’
efforts to limit the spread of the novel coronavirus through “social
distancing” measures while also ensuring that patients can obtain caregiver
advice on health conditions and concerns (http://ibn.fm/kdwPr).
The service provides subscribers with three premium medical
teleconferencing visits through Bonum Health and prescription delivery through
the company’s DelivMeds same day/mail order pharmaceuticals service each month
under the standard membership rate.
“With the seasonal flu outbreaks and the current coronavirus
surge, patients are quick to brush off common symptoms, including cough, fever
and body aches, as signs of a common cold; Telemedicine removes the barrier of
self-doubt and complacency in the current climate of world-wide viral
infections,” the company stated in a news release (http://ibn.fm/BrWLY).
In the meantime, Trxade’s sales department continues to add
customers through direct marketing and customer training. The company’s
common stock was approved for listing on The Nasdaq Capital Market in February,
providing increased opportunities for investor acquisition.
“The market is slowly changing towards one where medications
will become commoditized and influenced by price rather than the business
relationships imposed by the dominant participants of the past,” the company’s
financial statement adds. “We believe that pharmacies in due course will face
increasing pressure to source medications as inexpensively as possible and
improve operational efficiency. Trxade seeks to be in the forefront of solving
these transparency and pricing concerns.”
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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