Business
TRxADE HEALTH Reports Third Quarter 2021 Financial Results
Third Quarter 2021 Revenue Increased 34.3% over Second Quarter 2021TAMPA, FL / ACCESSWIRE / October 25, 2021 / TRxADE HEALTH, INC. (NASDAQ:MEDS), a health
About this update from Scienture Holdings, Inc.
[{"type":"text","content":"Third Quarter 2021 Revenue Increased 34.3% over Second Quarter 2021TAMPA, FL / ACCESSWIRE / October 25, 2021 / TRxADE HEALTH, INC. (NASDAQ:MEDS), 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., today announced its financial results for the third quarter ended September 30, 2021.Recent Operational Highlights:TRxADE HEALTH continued to expand its drug procurement marketplace nationwide, adding approximately 250 new registered members in the third quarter, bringing the total registered members to over 12,950.Bonum Health, a TRxADE Company, launched pre-paid digital telemedicine passes, providing an innovative new way for uninsured consumers to gain access to vital healthcare services while concurrently streamlining the path for organizations to efficiently gift healthcare to those in need.Attended leading investor conferences nationwide, including the Colliers 5th Annual Investor Conference, the H.C. Wainwright 23rd Annual Global Investment Conference, the Benzinga Virtual Healthcare Conference and the LD Micro Main Event.Management Commentary\"We saw strong margin improvement as our revenue base returned to the core TRxADE pharmaceutical exchange platform in the third quarter, seeing a drop-off in the one-time personal protective equipment sales recognized in 2020, which were driven by the initial onset of the COVID-19 pandemic,\" said Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE HEALTH. \"Our nationwide footprint continues to grow and we have relentlessly focused on exciting new ways to expand proportional wallet-share within our large, growing network of registered users, while better enabling them to service their respect customers - the end-users, further growing their loyalty to their local retail pharmacy.\"Our telehealth subsidiary Bonum Health has continued to grow, building a foundation that we believe we can build upon for years to come - not only offering an advanced telehealth offering, but concurrently allowing consumers to retain their own healthcare data in a secure, compliant manner. This provides an exciting opportunity, leveraging our large, established national footprint of retail partners to drive growth.\"In summary, we are focusing new strategic partnerships to dri...