A Revolutionary Technology Solution to Empower Independent Retail Pharmacies
TAMPA, FL, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Trxade Group, Inc. (OTCQB: TRXD) (“Trxade” or the “Company”), an integrated healthcare platform, announced today the formation of a joint venture with PanOptic Health to create SyncHealth. The revolutionary technology platform is expected to launch February 1 and enables independent retail pharmacies to better compete with large national pharmacies on pricing, distribution and logistics.
Trxade Chief Executive Officer, Suren Ajjarapu, commented, “We are very excited about this joint venture as it brings together the necessary pieces of the puzzle to better serve the 24,000 independent retail pharmacies and provides a highly valuable and scalable solution to the market. SyncHealth integrates Trxade’s pharmacy network, logistics services and DelivMeds(www.delivmeds.com)application with PanOptic’s proprietary E-hub prescription management application into a complete technology solution. We believe this innovative technology platform will improves the efficiencies of our independent retail pharmacy customers. We look forward to our upcoming launch of SyncHealth and working even closer with our ever-expanding network of independent retail pharmacies.”
PanOptic’s proprietary software application known as E-hub provides capabilities in Script/Order Repository, Allocation Algorithm, Workflow Management, Supply-Chain Management, Audit and Transparency that should integrate with most platforms to accept scripts or orders. Additionally, its E-Hub utilizes a proprietary allocation algorithm, based on many different pharmacy profile criteria, including pharmacy-location, pharmacy benefit manager (PBM), contracts with any limitations, medication availability and patient’s pharmacy preferences, through API with patient-centric applications.
Trxade’s goal in integrating the E-hub application with the Trxade network of pharmacies and other operations is to transform and revolutionize Trxade into an integrated healthcare platform focused on connecting disassociated healthcare systems related to pharmacy services. The new integrated offering is intended to provide greater efficiency and timely care delivery for patients after their visit to a healthcare provider.
Additional details and terms and conditions of the Joint Venture transaction are available under an 8K filed today by Trxade with the U.S. Securities and Exchange Commission (www.sec.gov).
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (OTCQB: TRXD) is an integrated healthcare 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 9,700 registered members. For additional information, please visit us at http://www.trxadegroup.com, http://www.trxade.com, http://www.delivmeds.com.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. Except as may be required by applicable law, we assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The company undertakes no duty to update forward-looking statements.