Wakefern Food Corp. and Bonum Health™, LLC (a TRxADE HEALTH Company) Ink a Telemedicine Services Deal
TAMPA, FL / ACCESSWIRE / September 20, 2022/ TRxADE HEALTH, INC. (NASDAQ: MEDS)(“TRxADE” or the “Company”) an integrated drug procurement, delivery, and healthcare platform, today announced that Bonum Health, a Digital Healthcare business subsidiary, has signed a Telemedicine Services Distribution Deal with Wakefern Food Corp., to deploy telemedicine services throughout ShopRite pharmacy-led locations in New Jersey, New York, Pennsylvania, Connecticut, and Maryland.
Bonum Health will provide affordable telemedicine services and prescription discount savings to ShopRite customers by offering Bonum Health’s signature Mobile Health Services application and prescriber program, staffed by over 650+ Board-Certified Medical Providers. The service, which allows customers to connect virtually with doctors and healthcare providers, to get the care they need, also provides access to prescription discount savings through the innovative Bonum Health telemedicine application, which can be downloaded from both Google Play and Apple App stores.
Dr. Shafaat Pirani, PharmD, BCGP, Chief Clinical and Compliance Officer for TRxADE states, “We are ecstatic about working strategically with Wakefern Food Corp., the retailer-owned supermarket cooperative, to offer deep discounts for telemedicine services in the tristate area and neighboring states. The relationship speaks to the ethos of what Bonum Health is all about – improving access to healthcare services for the growing uninsured and under-insured population. Today, it is more important than ever to make sure people have affordable and accessible healthcare.”
“This partnership will highlight synergies across both brands, such as a preferred Veterinary plan where customers will be able to access Tele-Veterinary services in select markets and receive their pet prescriptions and over-the-counter drugs. These are precisely the value-based opportunities we believe customers are looking for today,” Dr. Pirani added.
“Telemedicine provides a convenient and user-friendly way for people to access health care services. With providers and patients looking to break down physical and scheduling barriers to delivering and receiving care, telehealth offers a seamless, accessible health care solution. We are excited to introduce Bonum Health’s signature Mobile Health Services application to help our customers achieve their health and wellness goals,” said Joe Montoto, RPh, Pharmacy Business Development Manager at Wakefern Food Corp.
“We are pleased to announce this collaboration with Wakefern Food Corp and Bonum Health, as it demonstrates our commitment to expanding our affordable and convenient telemedicine services with our supermarket partners. We look forward to building on this opportunity and creating innovative, game-changing health care solutions,” said Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE.
About Wakefern Food Corp
From a small, local cooperative that began with eight grocery store owners, Wakefern Food Corp. has grown into the largest retailer-owned cooperative in the United States. Founded in 1946, the cooperative includes 47 member families who today independently own and operate hundreds of supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, and Fairway Market banners in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, New Hampshire and Rhode Island. For more information, please visit www.wakefern.com.
ShopRite is the registered trademark of Wakefern Food Corp., a retailer-owned cooperative based in Keasbey, NJ, and the largest supermarket cooperative in the United States. With hundreds of supermarkets located throughout New Jersey, New York, Pennsylvania, Connecticut, Delaware and Maryland, ShopRite serves millions of customers each week. Through its ShopRite Partners In Caring program, ShopRite is dedicated to fighting hunger in the communities it serves. Since the program began in 1999, ShopRite Partners In Caring has donated nearly $62 million to food banks that support more than 2,200 worthy charities. As a title sponsor of the ShopRite LPGA Classic Presented by Acer, ShopRite has donated more than $35 million to local organizations, hospitals and community groups. For more information, please visit www.shoprite.com.
About TRxADE HEALTH, INC.
TRxADE HEALTH (NASDAQ: MEDS) 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 approximately 13,475 members nationwide, fostering price transparency, and under the Bonum Health brand, offering patient-centric telehealth services. For info on TRxADE HEALTH, please visit the Company’s IR website at investors.trxadegroup.com.
This press release may contain forward-looking statements, including information about management’s view of TRxADE’s future expectations, plans, and prospects, within the meaning of the federal securities laws, including the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event, or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors, which may cause the results of TRxADE, its divisions, and concepts to be materially different from those expressed or implied in such statements. These risks include risks relating to agreements with third parties, including Wakefern Food Corp., Coborn’s and Galt Pharmaceuticals; our ability to raise funding in the future and the availability and terms of such funding, including potential dilution caused thereby; our ability to continue as a going concern; the planned benefits, expected users of, and projected revenues of our venture with Exchange Health; amounts we owe and may owe to Exchange Health in connection with the arrangement with Exchange Health; security interests under certain of our credit arrangements; the fact that we are exploring strategic alternatives for our Bonum Health, Inc. subsidiary; our operations not being profitable; the commercial viability of new business lines, applications, products and technologies, and the costs of such items; the Company’s stock repurchase program; the adoption of the Company’s product offerings; claims relating to alleged violations of intellectual property rights of others; our ability to monetize our technological solutions; technical problems with our websites, apps and products; risks relating to implementing our acquisition strategies; challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic and related matters; our ability to manage our growth; negative effects on our operations associated with the opioid pain medication health crisis; regulatory and licensing requirement risks; risks related to changes in the U.S. healthcare environment; the status of our information systems, facilities and distribution networks; risks associated with the operations of our more established competitors; regulatory changes; new competitors which may have more resources than we do; increases in direct to consumer sales of drugs; healthcare fraud; COVID-19, governmental responses thereto, economic downturns and increased inflation and interest rates, and possible recessions caused thereby; changes in laws or regulations relating to our operations; privacy laws; system errors; dependence on current management; our growth strategy; dilution which may be caused by future offerings; our ability to maintain the listing of our common stock on the Nasdaq Capital Market, including our current non-compliance with Nasdaq’s continued listing standards; increased inflation, increases in interest rates and supply chain issues caused by among other things, recessions and global conflicts; and others that are included from time to time in filings made by TRxADE with the Securities and Exchange Commission, including, but not limited to, in the “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which it has filed, and files from time to time, with the U.S. Securities and Exchange Commission (SEC), and more particularly in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and our Annual Report on Form 10-K for the year ended December 31, 2021. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on TRxADE’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. TRxADE cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.