TRxADE Health (NASDAQ: MEDS), a parent company of pharmaceutical business-to-business (“B2B”) exchange platform, has entered into a business combination with Scienture Inc. in an all-stock transaction. Scienture is a New-York-based pharmaceutical company that develops unique specialty product concepts and solutions. According to the announcement, TRxADE acquired all of Scienture’s assets in exchange for a combination of TRxADE common stock and nonvoting convertible preferred stock. In addition, TRxADE will change its name to Scienture Holdings Inc., with the combined company continuing to trade on the NASDAQ exchange. The boards of directors of both companies have unanimously approved the planned business combination, which will result in a company focused on providing innovative branded, specialty pharmaceutical products designed to enhance the standard of care and add value to patients, caregivers and the healthcare system. “We are very excited about the merger and believe the new combined company will provide the vehicle for our future expansion,” said Scienture president and CEO Shankar Hariharan, PhD., in the press release. “Our mission at Scienture is in developing unique specialty product concepts and solutions that bring enhanced value to patients, caregivers and healthcare systems. Our assets in development are across therapeutics areas, indications and cater to different market segments. We are committed to serving patients, physicians and other healthcare stakeholders to attain better health outcomes.”
To view the full press release, visit https://ibn.fm/dZU3G
About TRxADE Health Inc.
TRxADE Health historically focused on health services IT assets and operations aimed at digitalizing the retail pharmacy experience. The company’s current primary operations are conducted through its wholly owned subsidiary, Integra Pharma Solutions (“IPS”), which is a licensed pharmaceutical wholesaler that sells brand, generic and nondrug products to customers. IPS customers include all healthcare markets including government organizations, hospitals, clinics and independent pharmacies nationwide. For more information about the company, please visit www.TRxADE.com and www.RXIntegra.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS
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