DataMeds AI, Inc. Selected as Proposed New Name for Wellgistics Health, Inc.
Rhea-AI Summary
Wellgistics Health (NASDAQ:WGRX) plans to change its corporate name to DataMeds AI, subject to shareholder approval, and rebrand its Pharmacy and Pharmacy Services division as Corexa Health. The company reports 2,647,198 common shares outstanding, with a majority under 90-day lock-up and no debt or preferred equity convertible into free-trading common shares.
Wellgistics has a fully binding letter of intent with DataVault AI, EOS Technology Holdings, Scilex Holdings, and HealthBridge Advisors to form DataMeds AI, targeting a vertically integrated healthcare ecosystem built around the Health Lives Here app and EinsteinRx AI platform, with closing anticipated in Q3 2026, subject to conditions.
Positive
- Majority of 2,647,198 shares locked up for at least 90 days
- No debt or preferred equity currently convertible into free-trading common shares
- Fully binding letter of intent signed to form DataMeds AI
- Targeted Q3 2026 closing for multi-party DataMeds AI transaction
- Rebranding of pharmacy division to Corexa Health to align with new strategy
Negative
- Completion of DataMeds AI transaction uncertain and subject to customary conditions
- Corporate name change to DataMeds AI still requires shareholder approval
- Board still evaluating Dream Bowl 2026 Meme Coin Token distribution with no final decision disclosed
News Market Reaction – WGRX
In the Jun 26 session, WGRX gained 6.64%, reflecting a notable positive market reaction. Argus tracked a peak move of +3.5% during that session. Argus tracked a trough of -13.4% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous AI Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 18 | AI investment | Positive | +0.3% | Strategic investment in mental health AI startup expanding EinsteinRx capabilities. |
| Nov 26 | AI token promo | Positive | +14.8% | Dream Bowl 2026 sponsorship and planned meme coin distribution for shareholders. |
| Nov 12 | AI platform launch | Positive | -3.4% | Launch of EinsteinRx AI prescription management hub targeting U.S. drug market. |
| Oct 27 | Blockchain contract | Positive | -28.7% | SAAS smart‑contract deal with DataVault AI to develop PharmacyChain platform. |
| Oct 22 | LOI for AI platform | Positive | +3.0% | Non‑binding LOI with DataVault AI to implement PharmacyChain smart‑contract system. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-related announcements have produced mixed reactions, with some strategic partnerships selling off sharply despite seemingly positive positioning.
Key Terms
telemedicine medical
blockchain-enabled technical
smart contracts technical
depository trust & clearing corporation financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Name reflects vertically-aligned healthcare ecosystem business model integrating data captured via telemedicine, online pharmacy, lab tests and wearables to perfect patients' digital health twins in the Health Lives Here app designed to influence/optimize behavior
EinsteinRx AI™ capabilities expanding into medical, laboratory and wearables fields
Pharmacy and Pharmacy Services division being rebranded as Corexa Health™
Company positioned to empower patients to seize ownership of their health data with blockchain-enabled data management to control data and participate in its monetization
(1) 2,647,198 common shares outstanding, with (2) 1,333,930 of those shares locked up for at least ninety (90) days from today, and (3) 919,465 common shares deposited in DTCC, leaving (4) 80,628 cash warrants with fixed
$35.00 exercise price representing only other securities currently eligible for deposit into DTCC for free trading shares
TAMPA, FL / ACCESS Newswire / June 26, 2026 / Wellgistics Health, Inc. ("Wellgistics") (NASDAQ:WGRX), a Health IT leader, integrating pharmacy dispensing AI platform EinsteinRx™ into patented pharmacy smart contracts platform PharmacyChain™, today announced that its management and Board of Directors has selected DataMeds AI, Inc as its new corporate name, subject to shareholder approval. The proposed new stock sticker remains MEDS. A preliminary proxy was filed on Thursday, June 18, 2026 with the U.S. Securities & Exchange Commission requesting shareholder approval to effect the name change. The DataMeds AI, Inc. name was advanced to replace the name DelivMeds AI, Inc. that was previously announced as the projected Wellgistics Health, Inc. corporate name. Concurrent with this announcement, Wellgistics also announced that it is changing the name of its Pharmacy and Pharmacy Services division to Corexa Health.
"As we continue to pursue the previously announced proposed transaction with DataVault AI, Scilex Pharma, EOS Holdings, and HealthBridge Advisors while also beginning to integrate the operations of the new business lines being consolidated within the existing Wellgistics Health public vehicle, we believe strongly that the name DataMeds AI captures the essence of the significant, but necessary task we are taking on," said Gerald E. Commissiong, Interim Co-CEO of Wellgistics Health. "We are working to create the digital platform that empowers and rewards patients who opt-in to consolidate their health data within the Health Lives Here app by expanding our EinsteinRx AI technology into adjacent medical areas so that providers are armed more comprehensive information to timely make better decisions that will the patient not only with better health, but also allow for patient-centric revenue participation opportunities that result from the commerce of their health data. We intend to empower patients to seize ownership of their health information so that we can break down the data sharing barriers that exist in healthcare today that stifle forward progress."
Wellgistics confirms that as of the date of this press release there are 2,647,198 common shares outstanding. Certain stockholders holding approximately1,333,930 common shares, representing a majority of the outstanding common shares, have entered into lock-up agreements that preclude the sale of their shares into the market for at least ninety (90) days from today's date. There are currently 919,465 shares of Wellgistics common stock deposited in Depository Trust & Clearing Corporation available for trading. There are no debt or preferred equity securities of the Company that are eligible to convert into free trading common shares at the current time. There is a total of 80,826 cash warrants outstanding, each with a fixed exercise price of
About Wellgistics Health, Inc.
Wellgistics Health (NASDAQ:WGRX) is a Health IT leader integrating its proprietary pharmacy dispensing optimization artificial intelligence platform EinsteinRx™ into its blockchain-enabled smart contracts platform PharmacyChain™ to optimize the prescription drug dispensing journey. Its integrated platform connects more than 6,500 pharmacies and 200+ manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility verification, onboarding, adherence support, prior authorization, and cash-pay fulfillment designed to improve patient access and transparency across the prescription ecosystem.
Wellgistics Health recently entered into a fully binding letter of intent with DataVault AI, Inc., EOS Technology Holdings, Inc., Scilex Holdings, Inc. and HealthBridge Advisors LLC to form DataMeds AI. DataMeds AI intends to focus on the vertical integration of technology, pharmacy, pharmaceutical-adjacent and telemedicine business units to deliver a better healthcare experience for consumers. Tollo Health, the operating company whose control is being contributed to DataMeds AI by HealthBridge Advisors, has a pending partnership with NFL Alumni Health to advance the Health Lives Here app that will become the centerpiece of DataMeds AI direct-to-consumer marketing efforts. The parties currently anticipate completing the proposed transaction during the third quarter of 2026, subject to the satisfaction or waiver of customary closing conditions and other applicable approvals. There can be no assurance that the transaction will be completed on the anticipated terms or timetable, or at all.
For more information, visit www.wellgisticshealth.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the proposed corporate name change to DataMeds AI, Inc.; the proposed rebranding of the Company's Pharmacy and Pharmacy Services division as Corexa Health; the Company's proposed transaction with DataVault AI Inc., Scilex Holding Company, EOS Holdings and HealthBridge Advisors; the anticipated timing, structure, terms and completion of such transaction; the satisfaction or waiver of closing conditions; the receipt of stockholder approval and any other required approvals; the Company's anticipated business strategy, operating plans and growth opportunities; the integration of telemedicine, pharmacy, laboratory, wearable-device, artificial intelligence, blockchain and data-management technologies; the proposed development, commercialization and expansion of EinsteinRx AI, PharmacyChain, Health Lives Here and related platforms; the Company's ability to empower patients to access, manage, control or monetize health data; the anticipated benefits of the Company's technology platforms, strategic relationships and business combinations; the Company's capitalization, outstanding securities, lock-up arrangements, public float and registration statements; the Company's ability to maintain compliance with Nasdaq listing standards; and the Company's liquidity, capital resources and ability to fund operations.
Forward-looking statements are based on current expectations, estimates, projections and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, the risk that the proposed name change may not be approved by stockholders or otherwise completed; the risk that the proposed transaction may not be completed on the anticipated terms or timeline, or at all; the risk that closing conditions may not be satisfied or waived; risks related to integrating multiple businesses, technologies and platforms; risks related to the development, commercialization, adoption, scalability and regulatory treatment of artificial intelligence, blockchain-enabled data management, telemedicine, pharmacy, laboratory, wearable-device and digital health technologies; risks related to healthcare privacy, cybersecurity, data ownership, data monetization and compliance with applicable healthcare, pharmacy, consumer protection, data protection and securities laws; risks related to the Company's liquidity, capital resources, indebtedness, dilution, outstanding securities, registration statements and ability to raise additional capital; risks related to maintaining compliance with Nasdaq listing standards; market, regulatory, competitive and operational risks affecting the healthcare, pharmacy, pharmaceutical distribution, artificial intelligence, technology and digital asset sectors; and other risks described in the Company's filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Wellgistics Media & Investor Contact
Media: media@wellgisticshealth.com
Investor Relations: IR@wellgisticshealth.com
SOURCE: Wellgistics Health, Inc.
View the original press release on ACCESS Newswire