Trxade Group, Inc. (NASDAQ: MEDS) Reports Record 244% YoY Revenue Growth in Q2 2020

July 29, 2020 10:52:09
  • As the spread of the novel coronavirus unexpectedly reached pandemic proportions, Trxade Group stepped in to help patients and providers continue to access resources and PPE products through a virtual environment that is safe from contagion
  • If telemedicine services maintain popularity with patients and insurance providers continue to be responsive to reimbursing telehealth claims, market analysts project a seven-fold increase for the industry by 2025

Trxade Group (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, reported its financial results for the second quarter ended June 30, 2020. According to the report, revenues for the second quarter of 2020 increased 244% to a record $6.6 million, compared to revenue of $1.9 million in the same quarter last year. Second quarter revenue was up 199% when compared to revenues of $2.2 million in the first quarter of 2020.

The pharmaceutical services provider has garnered much attention in the first half of 2020. The company has been working to raise awareness of its supply chain trading platform that includes medical consultation and…

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