- Proprietary S2P (supplier to pharmacy) web-based platform enables fair trade among health care buyers and sellers of pharmaceuticals, accessories and services
- DelivMeds app employs AI software to determine the best method to deliver same-day medicine to consumers throughout the U.S.
- The company is targeting 24,000 U.S. independent pharmacies, with combined pharmaceutical purchases of $93 billion per year
Trxade Group Inc. (OTCQB: TRXD), an integrated pharmaceutical services company, is extending the reach of DelivMeds, the company’s innovative mobile app that allows patients to receive same-day dispensed prescriptions and medication refills from a local, independent pharmacist with no delivery fees incurred. In an interview with Proactive Investors, Trxade Group CEO Suren Ajjarapu discussed the expansion of DelivMeds throughout the company’s growing network of independent pharmacies around the U.S. (http://nnw.fm/4NrBT).
“We are currently indirectly delivering drugs to an audience of 12 million consumers through these 10,250 pharmacies,” Ajjarapu said in the interview. “Why not extend that through this app so that when the consumer leaves the doctor’s office, the consumer can focus on his own priorities rather than waiting in line at the big box chain pharmacy stores?”
DelivMeds is powered through Trxade’s Managed Services Organization (“TrxadeMSO”), which enables member pharmacies to process and deliver orders to patients. Trxade launched its MSO pharmacy network via a SyncHealth joint venture in February (http://nnw.fm/E4yqN). The company’s DelivMeds app employs artificial intelligence (AI) software to identify the best means to deliver same-day medicine to consumers. The easy-to-use, feature-packed DelivMeds app (http://nnw.fm/q0I4z) is available free for download on Google Play and the Apple App Store.
“When you are sick today, you need to take the drug today, not tomorrow,” Ajjarapu said, noting that all prescription orders are placed with local, independent pharmacies, which typically make personal service and patient care the number one priority.
The $330-billion U.S. pharmaceutical industry is comprised of more than 65,000 pharmacy facilities and 1,500 state-licensed suppliers, according to the U.S. Department of Commerce (http://nnw.fm/w5GmK). Roughly 24,000 of these facilities are independent pharmacies, which collectively spend approximately $93 billion per year on branded and generic drugs, Ajjarapu noted. Trxade is expanding its own B2B member network by 100 to 125 independents each month.
Trxade’s acquisition of independent Community Specialty Pharmacy LLC in 2018 was a major milestone and increased company revenues by nearly $400,000 in the fourth quarter, as Ajjarapu detailed in a news release highlighting key accomplishments for the year (http://nnw.fm/Dq3JZ).
“This acquisition is key to our strategy in expanding our capabilities in the consumer market of direct purchasing, mail order and physical delivery to consumers. We are seeking to improve the efficiency of selling and buying, as well as customer experience, by integrating e-commerce, brick and mortar retail, and logistics,” Ajjarapu stated in the release.
Founded in 2010 and headquartered in Tampa, Florida, Trxade’s overarching corporate strategy is to penetrate the existing retail independent pharmacy marketplace and diversify the company’s pharmaceutical mix with additional specialty and acute care products.
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://nnw.fm/TRXD
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