Trxade Group and PanOptic Health to Launch SyncHealth Joint Venture
January 22, 2019 at 08:30 am EST
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Trxade Group, Inc. announced the formation of a joint venture with PanOptic Health to create SyncHealth. The revolutionary technology platform is expected to launch February 1, 2019 and enables independent retail pharmacies to better compete with large national pharmacies on pricing, distribution and logistics. PanOptic’s proprietary software application known as E-hub provides capabilities in Script/Order Repository, Allocation Algorithm, Workflow Management, Supply-Chain Management, Audit and Transparency that should integrate with most platforms to accept scripts or orders. Additionally, its E-Hub utilizes a proprietary allocation algorithm, based on many different pharmacy profile criteria, including pharmacy-location, pharmacy benefit manager (PBM), contracts with any limitations, medication availability and patient’s pharmacy preferences, through API with patient-centric applications. Trxade’s goal in integrating the E-hub application with the Trxade network of pharmacies and other operations is to transform and revolutionize Trxade into an integrated healthcare platform focused on connecting disassociated healthcare systems related to pharmacy services. The new integrated offering is intended to provide greater efficiency and timely care delivery for patients after their visit to a healthcare provider.
TRxADE Health, Inc. provides a technology-enabled health services platform. The Company is focused on digitalizing the retail pharmacy and health services experience by optimizing drug procurement, the prescription journey, access to physicians in the patientâs home and patient engagement in the United States. The Companyâs segments include Trxade, Inc., Integra Pharma Solutions, LLC (IPS) and Superlatus. Trxade, Inc. segment provides a web-based pharmaceutical marketplace platform-business to business (B2B) sales. IPS is a licensed pharmaceutical wholesaler and sells brand, generic and non-drug products to customers. The Superlatus segment holds Sapientiaâs intellectual property for advanced food extrusion technology and The Urgent Company, which is a manufacturer of ice cream that is animal product-free, vegan, lactose-free, and made with plant-B2B sales. Its subsidiaries include Community Specialty Pharmacy, LLC, Alliance Pharma Solutions, LLC, Bonum Health, LLC and others.