PrimeRx is rolling out its version of a B2B marketplace called PrimeRx Market.
PrimeRx is a pharmacy management systems developer. It also provides automated applications for how pharmacies can research and purchase medications from drug manufacturers and others. The marketplace will enable pharmacies to research prices in real time from a network of 40 suppliers and place orders online.
PrimeRx Market launches as new B2B marketplace
Formerly known as Trxade, PrimeRx Market includes digital tools that enable pharmacies to compare suppliers and pricing for generic drugs, over-the-counter medications and injectables. The company said its marketplace also “represents a significant expansion” in its commitment to enhancing operational efficiency and cost-effectiveness for pharmacies.
“The drug procurement process for pharmacies, a major expense, requires precise contract compliance and inventory management to maintain cash flow and profitability,” said Ketan Mehta, PrimeRx CEO, in a statement. “PrimeRx Market empowers pharmacies to source drugs intelligently and conveniently by integrating purchase and dispensing data, ensuring compliance and market agility.”
PrimeRX has yet to reveal many details of its new marketplace. Users must register for a free account to access pricing and suppliers.
“Our goal is to use data intelligence to streamline purchasing decisions, enabling pharmacies to remain profitable and dedicated to serving their patients,” Mehta said.
More than 4,000 pharmacies nationwide use PrimeRX, based in Uniondale, New York.
The company has been in business since 1990. It has also raised more than $136 million in investment money over time, according to PitchBook.com.
PrimeRX joins an already crowded field for B2B marketplaces linking pharmacies and related providers to manufacturers and distributors.
Existing marketplaces include:
- Medibox
- PipelinePharma
- Pharmaflair
- GXgate
- MedCombo