TRxADE Health (NASDAQ:MEDS) stock is rocketing higher on Thursday following news of a deal for subsidiary Bonum Health.
Bonum Health is a digital healthcare subsidiary that focuses on offering telemedicine services. The company has signed a Telemedicine Service Distribution deal with Big Y Pharmacy and Wellness Centers in their supermarket locations.
The deal boosting MEDS stock up today has Bonum Health providing its services to Big Y pharmacies in Massachusetts and Connecticut. That includes telemedicine service for all patients, as well as direct access to prescription discount savings.
Ashton Maaraba, president of Bonum Health, said the following about the news sending MEDS stock higher today.
“We are thrilled and fortunate to team up with Big Y and their outstanding Health & Wellness leadership and in-store staff. Big Y pharmacy leadership recognized an opportunity to provide greater access to deeply discounted low-cost care to their patients, in combination with furthering their prescription discounts, under our unique digital platform, and Big Y chose Bonum Health.”
MEDS stock is seeing heavy trading on Thursday following the Bonum Health news. As of this writing, more than 74 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 3.4 million shares.
MEDS stock was up 68.5% as of noon Thursday and is up 37.4% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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