TRxADE Health Shares Surge 92% on Asset Purchase Agreement With Micro Merchant Systems

Dow Jones02-21

By Denny Jacob

TRxADE Health shares surged 92% to $8.84 following an asset purchase agreement with Micro Merchant Systems.

The stock is up 68% over the last 12 months.

The pharmaceutical exchange platform provider said Micro Merchant agreed to purchase for cash substantially all of the assets of Trxade, a subsidiary of the company, which operates a web-based market platform designed to enable trading among healthcare buyers and sellers of pharmaceuticals, accessories and services, according to a regulatory filing. The price to be paid at closing is $22.5 million.

TRxADE said through its subsidiary Integra Pharma Solutions, it will continue to own assets related to and conduct business as a licensed pharmaceutical wholesaler after the asset sale is completed.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 20, 2024 11:50 ET (16:50 GMT)

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