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InvestorNewsBreaks – TRxADE Health Inc. (NASDAQ: MEDS) Regains Compliance with Nasdaq Listing Rule 5250(c)(1), Posts Over $21M in Net Income for Q1 2024

TRxADE Health (NASDAQ: MEDS), a pharmaceutical exchange platform provider, has regained compliance with Nasdaq Listing Rule 5250(c)(1) following the filing of its quarterly report on Form 10-Q for the three months ended March 31, 2024 (“Q1 2024”). The company reported a net income of more than $21 million for this period due to the previously announced sale of substantially all of the assets of its wholly-owned subsidiary Trxade, Inc. According to the announcement, the purchase price paid at closing on February 16, 2024, was $22,660,182. This sale transaction was a significant factor in TRxADE reporting positive net income for Q1. The company received an additional payment of $7,500,000 in May 2024.

To view the full press release, visit https://ibn.fm/5nCmE

About TRxADE Health Inc.

TRxADE Health is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The company operates the TRxADE drug procurement marketplace serving a total of 14,500+ members nationwide, fostering price transparency and, under the Bonum Health brand, offering patient-centric telehealth services. For more information on TRxADE Health, visit the company’s website at www.trxadehealth.com.

NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

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