Full Press Release Details
Inc. and Bonum Health (A TRxADE HEALTH Company) Ink Telemedicine Deal To Deploy Deeply Discounted Telemedicine to Uninsured
and Under-Insured Consumers
FL, February 23, 2022 - TRxADE HEALTH, INC. (NASDAQ: MEDS) an integrated drug procurement, delivery, healthcare platform and
health service company, today announced that Bonum Health, a Digital Healthcare business subsidiary, has signed a Telemedicine Service
Distribution agreement with Coborn's, Inc., a regional grocery chain with approximately (120+) Food and Pharmacy Grocery Stores
across the Mid-West including: Minnesota, Michigan, Wisconsin, and North and South Dakota.
to the agreement, Bonum Health will provide affordable tele-medicine and prescription discount savings to patients and consumers of all
Coborn's retail stores (Cash-Wise Foods; Marketplace Foods, Tadych's and Hornbacher's, Little Duke's, and Holiday
Stores) and their pharmacies. Bonum Health will open access to its signature mobile health services application and prescriber program,
staffed by over 600 board-certified medical providers. The partnership will also provide Coborn's patients whose pharmacies are
predominately across Minnesota, direct access to cash discounts on medical encounters and prescription discount savings directly through
the Bonum Health mobile application found on google play and apple stores.
to a March 2021 report from the Minnesota Department of Health (MDH), an estimated approximately 4.6% of Minnesota residents lacked health
insurance coverage in 2020 and 1 in 4 Minnesotans reported having to delay or go without needed health care due to cost in 2019, up from
approximately 1 in 5 in 2017.
strategic partnership with Bonum Health provides a fully integrated, deeply discounted, affordable and a patient-ready digital healthcare
solution," said Chad Nellis, Director of Pharmacy for Coborn's, Inc. Nellis adds, "Bonum Health will help us deliver
our uninsured and under-insured consumer an opportunity to receive a new' and unique' mobile healthcare experience
that is cost-effective and easy-to-access. Bonum's updated telemedicine platform, EMR, which offers an ePrescribe option for its
medical providers, along with a combined prescription savings program, is an essential healthcare tool and digital healthcare vehicle
that we believe can help Coborn's achieve its long-term health and wellness objective."
Maaraba, President of Bonum Health noted, "Coborn's is a premium name in the markets they serve. We value their trust and
are ecstatic to serve Coborn's patients across each market they serve. We would like to thank the entire Coborn's leadership
and pharmacy management teams for making this partnership happen."
HEALTH (NASDAQ: MEDS) is 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. The Company operates the TRxADE drug procurement marketplace serving
a total of 12,700+ members nationwide, fostering price transparency and under the Bonum Health brand, offering patient centric telehealth
services. For info on TRxADE HEALTH, please visit the Company's IR website at investors.trxadegroup.com.
Cloud, Minn.-based Coborn's, Inc. is a 101-year-old employee-owned grocery retailer with nearly 10,000 employees and 66
grocery stores across Minnesota, North Dakota, South Dakota, Wisconsin and Michigan under the Coborn's, Cash Wise Foods,
Marketplace Foods, Hornbacher's and Tadych's Marketplace Foods banners. Coborn's, Inc. also operates
fuel, liquor and pharmacy locations. To support its 200 various retail business units, Coborn's, Inc. operates its own central
bakery, dry cleaning facility and grocery distribution center. In 2021, Coborn's, Inc. was named the Shelby Report's Midwest
Retailer of the Year.
press release may contain forward-looking statements, including information about management's view of TRxADE's future expectations,
plans and prospects, within the meaning of the federal securities laws, including the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "may," "could,"
"expect," "intend," "plan," "seek," "anticipate," "believe,"
"estimate," "predict," "potential," "continue," "likely," "will,"
"would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions are
intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about
an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and
other factors, which may cause the results of TRxADE, its divisions and concepts to be materially different than those expressed or implied
in such statements. These risks include risks relating to agreements with third parties, including Coborn's; the planned benefits,
expected users of, and projected revenues of our joint venture with Exchange Health; our operations not being profitable; the commercial
viability of new business lines, applications, products and technologies, and the costs of such items; the Company's stock repurchase
program; the adoption of the Company's product offerings; claims relating to alleged violations of intellectual property rights
of others; our ability to monetize our technological solutions; technical problems with our websites, apps and products; risks relating
to implementing our acquisition strategies; challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic and related
matters; our ability to manage our growth; negative effects on our operations associated with the opioid pain medication health crisis;
regulatory and licensing requirement risks; risks related to changes in the U.S. healthcare environment; the status of our information
systems, facilities and distribution networks; risks associated with the operations of our more established competitors; regulatory changes;
new competitors which may have more resources than we do; increases in direct to consumer sales of drugs; healthcare fraud; COVID-19,
governmental responses thereto, economic downturns and increased inflation and possible recessions caused thereby; changes in laws or
regulations relating to our operations; privacy laws; system errors; dependence on current management; our growth strategy; dilution
which may be caused by future offerings; our ability to raise funding in the future, as and if needed, and the terms of such funding;
increased inflation; and others that are included from time to time in filings made by TRxADE with the Securities and Exchange Commission,
including, but not limited to, in the "Risk Factors" sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which
it has filed, and files from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects on TRxADE's future results and/or could cause our
actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking
statements included in this press release are made only as of the date hereof. TRxADE cannot guarantee future results, levels of activity,
performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation
to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions
or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one
or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other
forward-looking statements.