Trxade Group (MEDS) has released an update.
TRxADE HEALTH Inc. has finalized a deal to sell the majority of its subsidiary Trxade, Inc.’s assets, which operates an online pharmaceutical trading platform, to Micro Merchant Systems, Inc. for $22.5 million, with potential adjustments. Following the sale, TRxADE HEALTH will continue its pharmaceutical wholesaling through Integra Pharma Solutions, LLC. The deal includes a possible additional payment of $7.5 million to Trxade, Inc. based on future earnings and standard indemnification clauses with a liability cap at 10% of the total purchase price. This strategic move is set to reshape TRxADE HEALTH’s business focus while ensuring a smooth transition of the online platform to MMS.
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