Scienture Holdings, Inc 8-K, filed Feb 23, 2022
Scienture Holdings, Inc. (SCNX)
About this 8-K
Scienture Holdings, Inc filed this 8-K on February 23, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
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Item 7.01 Regulation FD Disclosure.
On February 23, 2022, TRxADE HEALTH, INC. (the “Company”, “us” and “we”), issued a press release disclosing the entry into a Telemedicine Service Distribution agreement with Coborn’s, Inc., a copy of which press release is included herewith as Exhibit 99.1, and incorporated into this Item 7.01 by reference.
The information responsive to Item 7.01 of this Form 8-K and Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing. The furnishing of this Report is not intended to constitute a determination by the Company that the information is material or that the dissemination of the information is required by Regulation FD.
The press release attached hereto as Exhibit 99.1 contains certain statements that may be deemed to be “forward-looking statements” within the federal securities laws, including the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. Forward-looking statements are not a guarantee of performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and are beyond our control. These risks and uncertainties should be carefully considered. We caution you not to place undue reliance on the forward-looking statements, which involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its divisions and concepts to be materially different than those expressed or implied in such statements. Forward-looking statements may include comments as to the Company’s beliefs and expectations as to future financial performance, events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the Company’s control. More information on potential factors that could affect the Company’s financial results is included in the press release attached hereto as Exhibit 99.1, under “Forward-Looking Statements”, which are incorporated by reference into this Item 7.01, and from time to time in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, filed with the SEC and available at www.sec.gov and in the “NASDAQ:MEDS” — “SEC Filings” section of the Company’s website at https://www.investors.trxadegroup.com, and specifically including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, and subsequent periodic reports. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as otherwise provided by law.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. |
Description | |
| 99.1* | Press release dated February 23, 2022 | |
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K |
* Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TRxADE HEALTH, INC. | ||
| Date: February 23, 2022 | By: | /s/ Suren Ajjarapu |
| Name: | Suren Ajjarapu | |
| Title: | Chief Executive Officer | |
Exhibit 99.1
Coborn’s, Inc. and Bonum Health™ (A TRxADE HEALTH Company) Ink Telemedicine Deal To Deploy Deeply Discounted Telemedicine to Uninsured and Under-Insured Consumers
Tampa, FL, February 23, 2022 — TRxADE HEALTH, INC. (NASDAQ: MEDS) an integrated drug procurement, delivery, healthcare platform and health service company, today announced that Bonum Health, a Digital Healthcare business subsidiary, has signed a Telemedicine Service Distribution agreement with Coborn’s, Inc., a regional grocery chain with approximately (120+) Food and Pharmacy Grocery Stores across the Mid-West including: Minnesota, Michigan, Wisconsin, and North and South Dakota.
Pursuant to the agreement, Bonum Health will provide affordable tele-medicine and prescription discount savings to patients and consumers of all Coborn’s retail stores (Cash-Wise Foods; Marketplace Foods, Tadych’s and Hornbacher’s, Little Duke’s, and Holiday Stores) and their pharmacies. Bonum Health will open access to its signature mobile health services application and prescriber program, staffed by over 600 board-certified medical providers. The partnership will also provide Coborn’s patients whose pharmacies are predominately across Minnesota, direct access to cash discounts on medical encounters and prescription discount savings directly through the Bonum Health mobile application found on google play and apple stores.
According to a March 2021 report from the Minnesota Department of Health (MDH), an estimated approximately 4.6% of Minnesota residents lacked health insurance coverage in 2020 and 1 in 4 Minnesotans reported having to delay or go without needed health care due to cost in 2019, up from approximately 1 in 5 in 2017.
“Our strategic partnership with Bonum Health provides a fully integrated, deeply discounted, affordable and a patient-ready digital healthcare solution,” said Chad Nellis, Director of Pharmacy for Coborn’s, Inc. Nellis adds, “Bonum Health will help us deliver our uninsured and under-insured consumer an opportunity to receive a ‘new’ and ‘unique’ mobile healthcare experience that is cost-effective and easy-to-access. Bonum’s updated telemedicine platform, EMR, which offers an ePrescribe option for its medical providers, along with a combined prescription savings program, is an essential healthcare tool and digital healthcare vehicle that we believe can help Coborn’s achieve its long-term health and wellness objective.”
Ashton Maaraba, President of Bonum Health noted, “Coborn’s is a premium name in the markets they serve. We value their trust and are ecstatic to serve Coborn’s patients across each market they serve. We would like to thank the entire Coborn’s leadership and pharmacy management teams for making this partnership happen.”
About TRxADE HEALTH, INC.
TRxADE HEALTH (NASDAQ: MEDS) 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 12,700+ members nationwide, fostering price transparency and under the Bonum Health brand, offering patient centric telehealth services. For info on TRxADE HEALTH, please visit the Company’s IR website at investors.trxadegroup.com.
About Coborn’s, Inc.
St. Cloud, Minn.-based Coborn’s, Inc. is a 101-year-old employee-owned grocery retailer with nearly 10,000 employees and 66 grocery stores across Minnesota, North Dakota, South Dakota, Wisconsin and Michigan under the Coborn’s, Cash Wise Foods, Marketplace Foods, Hornbacher’s and Tadych’s Marketplace Foods banners. Coborn’s, Inc. also operates fuel, liquor and pharmacy locations. To support its 200 various retail business units, Coborn’s, Inc. operates its own central bakery, dry cleaning facility and grocery distribution center. In 2021, Coborn’s, Inc. was named the Shelby Report’s Midwest Retailer of the Year.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of TRxADE’s future expectations, plans and prospects, within the meaning of the federal securities laws, including the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TRxADE, its divisions and concepts to be materially different than those expressed or implied in such statements. These risks include risks relating to agreements with third parties, including Coborn’s; the planned benefits, expected users of, and projected revenues of our joint venture with Exchange Health; our operations not being profitable; the commercial viability of new business lines, applications, products and technologies, and the costs of such items; the Company’s stock repurchase program; the adoption of the Company’s product offerings; claims relating to alleged violations of intellectual property rights of others; our ability to monetize our technological solutions; technical problems with our websites, apps and products; risks relating to implementing our acquisition strategies; challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic and related matters; our ability to manage our growth; negative effects on our operations associated with the opioid pain medication health crisis; regulatory and licensing requirement risks; risks related to changes in the U.S. healthcare environment; the status of our information systems, facilities and distribution networks; risks associated with the operations of our more established competitors; regulatory changes; new competitors which may have more resources than we do; increases in direct to consumer sales of drugs; healthcare fraud; COVID-19, governmental responses thereto, economic downturns and increased inflation and possible recessions caused thereby; changes in laws or regulations relating to our operations; privacy laws; system errors; dependence on current management; our growth strategy; dilution which may be caused by future offerings; our ability to raise funding in the future, as and if needed, and the terms of such funding; increased inflation; and others that are included from time to time in filings made by TRxADE with the Securities and Exchange Commission, including, but not limited to, in the “Risk Factors” sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which it has filed, and files from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on TRxADE’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. TRxADE cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Media Contact:
TRxADE HEALTH, INC.
media@trxade.com
SOURCE: TRxADE HEALTH, INC.