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Trxade launches integrated COVID-19 risk assessment tool for corporate clients

The mobile dashboard will be part of Trxade’s telehealth business unit Bonum Health

Integrated drug procurement firm Trxade Group (NASDAQ: MEDS) on Tuesday launched a one-of-its-kind platform that brings together various services such as COVID-19 risk assessment, PPE shopping, and telehealth for its corporate customers.  

The mobile dashboard, christened Bonum+, is part of Trxade’s Bonum Health unit and allows companies to streamline PPE purchases, besides keeping a track on employee risk profiles. The platform also leverages artificial intelligence capabilities to connect employees with certified physicians.

Bonum Health President Ashton Maaraba said,  “This platform resolves a fundamental trust problem impacting employer’s safety and security policies, allowing companies to more effectively combat COVID-19 concerns in the workplace.”

Also Read:  No concerns on margin side: Trxade (MEDS) CEO Suren Ajjarapu

He added that Bonum Health is looking forward to expanding the tool’s capabilities to include other key features including prescription concierge services.   

When the Tampa, Florida-based firm reported second-quarter results late last month, it was evident that the high demand for personal protective equipment (PPE) including N-95 masks and sanitizers had benefited it’s topline. Revenue rose 244%, well above street expectations, sending the stock up 35% immediately following the announcement.

Trxade Group Q2 2020 earnings results.

However, lower margins on PPE had hurt the firm’s overall margins during the quarter.

MEDS shares were trading 0.3% higher following the launch announcement on Tuesday. The stock has declined 8% since the beginning of this year.

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