- Trxade Group Inc. facilitates the procurement and delivery of prescription drugs to a growing network of independent pharmacies, positioning them to compete with much larger national chains
- Trxade’s healthtech platform facilitates remote-access patient-provider consultations through its developing Bonum Health Hub smart technology-optimized services, which proves particularly useful during the present pandemic
- The company is slated to be included in the Russell Microcap Index when Russell’s annual index reconstitution is completed by month’s end
- Inclusion in the Russell index, as well as the recent undertaking of research report coverage by investment services firm Taglich Brothers, and the company’s uplisting to the NASDAQ market in February are helping Trxade to build its investor profile
Prescription drug procurement and healthcare services innovator Trxade Group (NASDAQ: MEDS), is celebrating another benchmark in its growth strategy following the announcement it will be included in Russell’s Microcap Index when the global index powerhouse completes the annual reconstitution of its market index measurements of the largest U.S. stocks by category following the market close on June 26, going into effect as markets open Monday, June 29 (http://ibn.fm/f2AEC).
FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98 percent of the investable market globally, and Russell’s indexes have been used for over 30 years by asset owners and managers to judge their investments’ performance and make investment product decisions.
Trxade Group has been nurturing a healthtech brand that values affordability, transparency and equal access to medical community patients by expanding its network of independent pharmacies and empowering them to better deliver medications through the effective use of technology.
Investment analysis media outlet Alphastreet recently noted that the rise in online pharmaceutical purchasing over the past decade and the heightened attention to remote-access medical care brought on by the present coronavirus pandemic are positioning Trxade’s independent pharmacies to compete with bigger healthcare retailers such as CVS Health or Walgreens Boots Alliance (http://ibn.fm/Ui4Yr).
After its acquisition of Internet drug outlet company Community Specialty Pharmacy, LLC, two years ago (http://ibn.fm/4cVb3), Trxade was able to advance its prescription drug distribution platform and add a “Health Hub” virtual examination platform via technology for private, secure patient-physician consultations last year (http://ibn.fm/33g9O), which helped drive the company’s stock uplisting on The NASDAQ Capital Market in February (http://ibn.fm/WI2en).
“In the retrospect, Trxade ticks three requirements that value investors look for in stocks: a comfortable balance sheet, the ability to make profits and plenty of headroom for growth,” Alphastreet stated.
Trxade’s addition to the Russell Microcap Index helps the integrated drug and healthcare platform raise its profile among the investment community, furthering its potential to generate long-term shareholder value while limiting marketing expenses.
“This marks an exciting capital markets milestone in the growth and trajectory of our company as we continue to execute upon our growth strategy and raise awareness about the Company throughout the investment community,” Trxade Chairman and CEO Suren Ajjarapu stated in the news release about the Russell listing.
About $9 trillion in assets are benchmarked against Russell’s US indexes, according to the news release.
Ajjarapu appeared in a webinar presentation June 24 to provide an overview of the company’s business model and growth initiatives. A replay of the webinar can be viewed at http://ibn.fm/Boz14 or by dialing 1-844-512-2921 within the United States, or 1-412-317-6671 from international locations, and entering replay pin number 13705066 through July 8.
For more information, visit the company’s website at www.TrxadeGroup.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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