TAMPA, FL, Oct. 03, 2022 (GLOBE NEWSWIRE) — TRxADE HEALTH, INC. (NASDAQ: MEDS) (“TRxADE” or the “Company”), a healthcare information technology company focused on digitizing the retail pharmacy experience by optimizing the drug supply, prescription journey and Patient Engagement in the United States, today announced the appointment of Mr. Jeff Newell to the Society’s Board of Directors. Prior to his appointment to the Board of Directors, Mr. Newell served on the Company’s Advisory Board. Mr. Newell will serve as a strategic resource for TRxADE as it continues to develop its business relationships in the industry.
“We are delighted to transition industry expert Mr. Newell from our advisory board to our board of directors, and we look forward to working with him to create value for shareholders,” said Suren Ajjarapu, Chairman of the Board, who continued, “We are committed to driving long-term growth and we believe we have the leadership in place to achieve this goal. We also believe that the background and experience that Mr. Newell brings to TRxADE will be invaluable and we expect to benefit from having access to Mr. . Newell expertise. We are excited about this new relationship.”
“TRxADE is a leader in pharmaceutical trading platforms with innovative and market-leading technologies, and we believe the company is well positioned to take advantage of multiple opportunities,” said Donald Fell, Chairman of the Nominating Committee and Corporate Governance of TRxADE, who continued, “As a member of the Board of Directors, we anticipate that Mr. Newell will work with the other directors and the management team to improve the value of the company for all We believe Mr. Newell’s track record shows that his involvement on boards has often created significant value for all shareholders and we hope that will continue with TRxADE.”
Mr. Fell added, “Given Mr. Newell’s extensive experience and knowledge in the field of pharmaceutical retail distribution, I believe Mr. Newell will be an extremely valuable resource to the Board and the company in the future.
About I f Newiel:
Mr. Newell is an accomplished CEO with over forty years of experience in the healthcare industry and a proven track record of growing profitable organizations through strategic initiatives and team development. highly performing. Mr. Newell is skilled in the areas of operations, patient engagement, compliance, regulatory affairs, quality measurement, supply chain and product sourcing. Mr. Newell is a strong entrepreneurial professional with a Bachelor of Science (BS) with a focus in pharmacy from the Albany College of Pharmacy & Health Sciences. Mr. Newell has held a variety of leadership positions including President and Chief Executive Officer of the Newell Group, Chief Executive Officer of Pharmacy Quality Solutions, Vice President of Pharmacy Administration and Chief Compliance Officer of Sears Holding /Kmart Pharmacy, and Senior Vice President of Operations and Chief Compliance Officer of Millennium. Pharmacy systems. As part of his long career in healthcare and pharmacy, Mr. Newell served as Director of Pharmacy Programs/Manager of Regulatory Affairs at CVS. Throughout his career, Mr. Newell has served on numerous national, state and local boards within the healthcare industry.
Mr. Newell is retired and remains active in the industry through his consulting firm. He consults with a number of companies and individuals and leverages his expertise and extensive network to improve performance.
About TRxADE HEALTH, Inc.
TRxADE HEALTH, Inc. (NASDAQ: MEDS) is a healthcare information technology company focused on digitizing the retail pharmacy experience by optimizing the drug supply, prescription journey and patient engagement at United States. The company operates the TRxADE drug supply marketplace serving a total of 13,815+ members nationwide, promoting price transparency and under the Bonum Health brand, offering patient-centric telehealth and tele-vet. For more information about TRxADE Health, please visit the company’s IR website at investor.trxadehealth.com.
This 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 federal securities laws, including the safe harbor provisions. under the Private Securities Litigation Reform Act of 1995. In particular, when used in the foregoing discussion, the words “may”, “might”, “expect”, “intend” , “plan”, “seek”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “probable”, “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. All statements made in this press release other than statements of historical fact, regarding 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 from those expressed or implied by these statements. These risks include risks related to agreements with third parties, including Wakefern Food Corp., Coborn’s and Galt Pharmaceuticals; our ability to raise funds in the future, and the availability and terms of such funding, including potential dilution therefrom; our ability to continue as a going concern; the anticipated benefits, expected users and projected revenues of our business with Exchange Health; amounts we owe and may owe Exchange Health in connection with the arrangement with Exchange Health; security interests under certain of our credit agreements; the fact that we are exploring strategic alternatives for our subsidiary Bonum Health, Inc.; our ability to maintain the listing of our common stock on the Nasdaq Capital Market, including our current non-compliance with the Nasdaq Capital Market Continuous Listing Standards; risks associated with our unprofitable operations; the commercial viability of new lines of business, applications, products and technologies, and the costs of such items; the Company’s share buyback program; adoption of the Company’s product offerings; claims relating to alleged violations of the intellectual property rights of others; our ability to monetize our technology solutions; technical problems with our websites, applications and products; risks relating to the implementation of our acquisition strategies; pharmaceutical supply chain challenges posted by the COVID-19 pandemic and related matters; our ability to manage our growth; adverse effects on our operations associated with the opioid painkiller health crisis; risks relating to regulatory requirements and licenses; risks related to changes in the US healthcare environment; the state of our information systems, facilities and distribution networks; risks associated with the operations of our more established competitors; regulatory changes; new competitors who may have more resources than us; increased direct-to-consumer drug sales; healthcare fraud; COVID-19, governmental responses thereto, economic downturns and rising inflation and possible resulting recessions; changes in laws or regulations relating to our operations; privacy laws; system errors; dependence on current management; our growth strategy; the dilution that may be caused by future offerings; increases in inflation and interest rates, including the resulting increase in funding costs; supply chain issues caused by, among other things, recessions and global conflicts; and others that are included from time to time in TRxADE’s filings with the Securities and Exchange Commission, including, but not limited to, the “Caution Regarding Forward-Looking Statements” and “Factors Statement” in its Form 10-Ks and Form 10-Qs and in its Form 8-K, which it has filed, and files from time to time, with the United States Securities and Exchange Commission (SEC), and our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. These reports are available at www.sec.gov. Other unknown or unpredictable factors could also materially adversely affect TRxADE’s future results and/or could cause our actual results and financial condition to differ materially from those set forth in the forward-looking statements. The forward-looking statements included in this press release speak only as of the date hereof. TRxADE cannot guarantee future results, activity levels, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to publicly update any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting the forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no conclusion should be drawn that we will make additional updates with respect to such or other forward-looking statements.