TAMPA, FL / ACCESSWIRE / October 16, 2018 / Trxade Group, Inc., (OTCQB: TRXD) a web-based pharmaceutical sourcing and purchasing platform with 9,300 registered independent pharmacy customers that procure over $100M in drug and product purchases annually, today announced the acquisition of Retail Specialty Pharmacy, an Independent Pharmacy.
This acquisition of Retail Specialty Pharmacy expands Trxade group into the "B-to-C" consumer market of direct purchasing, mail order and physical delivery to consumers. Trxade will improve the efficiency of selling and buying, as well as customer experience, by integrating e-commerce, brick and mortar retail, and logistics. we began the transformation from a pure "B-to-B" business model to a comprehensive New "full service" retail platform. By integrating our offline pharmacy network and new online retail pharmacy, this model allows Trxade to collect and analyze data across the US from a large number of transactions, which we can use to continuously increase the efficiency of our smart supply chain including drug pricing, product shortages and pharmacist profitability.
The acquisition will initially add approximately $2.5 million in annualized revenues and will be immediately accretive to Trxade's Adjusted EBITDA per share but furthermore positions the company for more aggressive operation and financial growth throughout the US with the goal of 50 state licenses for mail drug delivery. Trxade can provide consumers with pharmaceutical services, making both Prescription drugs and Over the counter (OTC) drugs accessible in a time- efficient and cost-effective manner.
"Retail Pharmacy Acquisition broadens our product portfolio, adds an established sales channel for Trxade direct to consumer solutions and drive sales of Trxade in the United States," said Suren Ajjarapu, chairman and CEO of Trxade Group. "Moreover, the transaction takes Trxade to over a $5 million annualized revenue run rate," he added. "As this transaction demonstrates, our acquisition pipeline is robust, and we are actively pursuing additional opportunities."
"We are thrilled to welcome Retail Pharmacy, its innovative technology, and loyal customers to Trxade," said Shawn Patel Rph, President of Pharmacy Solutions at Trxade. "Combined with the Trxade supply chain platform, we look forward to expanding online pharmacy solutions and delivering additional value to our existing customers."
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (TRXD) is a web-based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Founded in 2010, Trxade Group currently operates the trading platform with 9,300 registered members. For additional information please visit us at http://www.trxadegroup.com.
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SOURCE: Trxade Group, Inc.