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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.”

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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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