TRxADE Health (NASDAQ: MEDS), a pharmaceutical exchange platform provider, has regained compliance with Nasdaq Listing Rule 5250(c)(1) following the filing of its quarterly report on Form 10-Q for the three months ended March 31, 2024 (“Q1 2024”). The company reported a net income of more than $21 million for this period due to the previously announced sale of substantially all of the assets of its wholly-owned subsidiary Trxade, Inc. According to the announcement, the purchase price paid at closing on February 16, 2024, was $22,660,182. This sale transaction was a significant factor in TRxADE reporting positive net income for Q1. The company received an additional payment of $7,500,000 in May 2024.
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About TRxADE Health Inc.
TRxADE Health is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The company operates the TRxADE drug procurement marketplace serving a total of 14,500+ members nationwide, fostering price transparency and, under the Bonum Health brand, offering patient-centric telehealth services. For more information on TRxADE Health, visit the company’s website at www.trxadehealth.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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