Wellgistics Health (NASDAQ: WGRX) has announced that it has entered into a non-binding letter of intent (LOI) to acquire Kare RX—an AI-based digital hub—from closely held Kare PharmaTech.
According to Wellgistics, Kare RX will add plug and play telemedicine pharmacy-support vertical and key manufacturer relationships to the Wellgistics offering.
In a statement, Prashant Patel, RPh, president and interim-CEO of Wellgistics, commented, “While a relatively small acquisition in size, KareRx has built a number of key features that will make its platform and existing relationships a significant value add for Wellgistics. KareRx’ telemedicine offering will allow our online pharmacy Wellgistics Pharmacy, LLC to be quickly integrated and made available to support telemedicine providers nationwide who are now caring for patients with increasingly complex medical conditions, especially chronic conditions.
He added, “Further, KareRx will bring with it over 500 unique physician-provider relationships, over 200 independent pharmacy relationships that will add to our independent pharmacy network, and three unique manufacturer relationships in areas with significant growth potential with products in areas with unmet medical need. Most importantly, KareRx will bring with it a team of seasoned healthcare professionals with deep industry expertise who will have the platform needed to reach their full potential. Taken together, we think this transaction will be a significant benefit for all parties.”
