MEDS Stock Increased Over 50% Intraday: Why It Happened

By Amit Chowdhry ● Jul 21, 2021
  • The stock price of Trxade Health Inc (NASDAQ: MEDS) increased by over 50% during intraday trading. This is why it happened.

The stock price of Trxade Health Inc (NASDAQ: MEDS) – an integrated drug procurement, delivery, and healthcare platform – increased by over 50% during intraday trading. Investors are responding positively to the company announcing that Bonum Health, a digital healthcare business subsidiary has signed a Telemedicine Service Distribution Deal with Southeastern Grocers, the parent company of Winn-Dixie, Harveys Supermarket, and Fresco y Más grocery stores throughout the five states of Florida, Alabama, Louisiana, Georgia and Mississippi.

Bonum Health is going to provide affordable telemedicine services and prescription discount savings to the patients of all Winn-Dixie, Harveys and Fresco y Más retail stores and pharmacies by offering Bonum Health’s signature Mobile Health Services application and prescriber program, staffed by over 600 board-certified medical providers. And the partnership also provides Winn-Dixie patients direct access to prescription discount savings through Bonum Health signature telemedicine application — which can be downloaded from both the Google Play and App Store. 

According to Becker’s Hospital Review, approximately 5.4 million Americans lost their health insurance between February-May 2020 due to Covid-19 related lay-offs or job losses. And across America, the total number of uninsured has climbed to 21%. In the states where Winn-Dixie serves customers, the uninsured totals represent an average of 21% of all consumers across Florida, Georgia, Mississippi and Louisiana.

KEY QUOTES:

“Our strategic partnership with Bonum Health provides a fully integrated, deeply discounted and a patient-ready digital healthcare solution that gives eligible customers access to a Board-Certified Medical Provider. Bonum Health will help us diversify our in-store and community digital healthcare services as we offer deeply discounted telemedicine, with a combined prescription savings program designed into the same platform.”

— Gayle Shields, Vice President of Pharmacy for Southeastern Grocers

“We are proud to support the Winn-Dixie, Harvey’s and Fresco y Más retail store and pharmacy community. Winn-Dixie is committed to promote low-cost, turn-key, and innovative digital healthcare services across their consumer market. In working with Winn-Dixie, we plan on driving a seamless, deeply discounted and easily accessible digital health and wellness strategy. Our healthcare platform, medical providers, proprietary AI tools and resources not only offer fast and easy access to “live” virtual interactions with Board-Certified Medical Providers, but Winn-Dixie patients can also receive up to 80% savings on prescriptions.”

— Ashton Maaraba, President of Bonum Health

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.