Wellgistics Health Enters into LOI to Acquire Kare Rx Hub
Rhea-AI Summary
Wellgistics Health (NASDAQ: WGRX) entered a non-binding letter of intent to acquire Kare Rx Hub, an AI-based digital pharmacy hub owned by Dr. Kiran Patel, in an all-stock deal expected to close by January 31, 2026. KareRx contributes a plug-and-play telemedicine pharmacy-support vertical, over 500 physician-provider relationships, >200 independent pharmacy relationships, and three manufacturer relationships. Management cites integration with a patent-protected blockchain platform via an emerging relationship with DataVault AI. The acquisition targets the expanding telemedicine remote dispensing market, projected to grow from $6.7B in 2025 to $13.57B by 2032 according to Fortune Business Insights.
Positive
- Adds >500 physician-provider relationships to network
- Adds >200 independent pharmacy relationships
- Brings three unique manufacturer relationships
- Targets telemedicine dispensing market projected $6.7B to $13.57B
Negative
- Transaction currently a non-binding letter of intent
- Deal described as a relatively small acquisition in size
- Dependence on an emerging relationship with DataVault AI
News Market Reaction 2 Alerts
On the day this news was published, WGRX declined 4.52%, reflecting a moderate negative market reaction. Argus tracked a peak move of +2.3% during that session. Argus tracked a trough of -14.4% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $60M at that time.
Data tracked by StockTitan Argus on the day of publication.
- KareRx to add plug & play telemedicine pharmacy-support vertical and key manufacturer relationships to Wellgistics' offering
- Telemedicine remote dispensing market expected to grow from
$6.7 billion in 2025 to$13.57 billion by 2032 according to Fortune Business Insights
Tampa, Florida--(Newsfile Corp. - November 4, 2025) - Wellgistics Health, Inc. (NASDAQ: WGRX) ("Wellgistics"), a leader in next-generation pharmaceutical distribution, digital prescription routing, and AI-powered hub fulfillment, today announced that it has entered into a non-binding letter of intent to acquire Kare Rx Hub, LLC ("KareRx"), an artificial intelligence (AI)-based digital hub for retail pharmacies, telemedicine portal and specialty pharmaceutical 'lite' branded products from Kare Pharmtech, LLC, a company owned by Dr. Kiran Patel, MD. The all-stock transaction is expected to close by January 31, 2026.
"With Wellgistics' recent management upgrade and aggressive move to become the leader in Web 3.0 blockchain-enabled manufacturer-to-patient tracking and dispensing with patent protected technology via its emerging relationship with DataVault AI, it has positioned itself as the obvious solution to independent pharmacists' challenges," said Mital Panara, MBA, Founder, President & CEO of Kare Pharmtech. "Wellgistics has the scale needed to dramatically accelerate KareRx' business plan, and now also has the unique value proposition of being the only pharmacy hub services company with access to a patent-protected blockchain technology platform to squeeze the inefficiencies out from the prescription drug supply chain and last mile medication delivery to patient models."
Dr. Kiran Patel, Founder, Chairman and controlling shareholder of Kare Pharmtech, noted, "We are excited to become shareholders of Wellgistics and help them fulfill our shared vision of providing end-to-end hub services for compliance and optimization of pharmaceutical dispensing to independent pharmacies."
"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," said Prashant Patel, RPh, President and Interim-CEO of 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. 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."
The remote telemedicine remote dispensing market expected to grow from
About Kare Rx Hub, LLC
Kare Rx Hub is an artificial intelligence (AI)-based digital hub for retail pharmacies, telemedicine portal, and specialty pharmaceutical 'lite' branded products with over 500 physician-provider relationships, 200 independent pharmacy relationships that market three unique specialty pharmaceutical 'lite' products. Kare Rx Hub is owned by Kare Pharmtech, a company controlled by Dr. Kiran Patel. Dr. Patel founded Medicaid provider WellCare in 1992 and sold it in 2002 for
About Wellgistics Health, Inc.
Wellgistics Health (NASDAQ:WGRX) delivers medications from manufacturer to patient-faster, smarter, and more affordably. Its integrated platform connects 6,500+ pharmacies and 200+ manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility, adherence, onboarding, prior authorization, and cash-pay fulfillment. As a PBM-agnostic alternative, Wellgistics provides end-to-end solutions designed to restore access, transparency, and trust in U.S. healthcare.
For more information, visit www.wellgisticshealth.com.
Forward-Looking Statements
This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, statements regarding Wellgistics Health's strategy and descriptions of its future operations, prospects, and plans. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially. Additional factors are discussed in Wellgistics Health's filings with the SEC, available at www.sec.gov.
Media & Investor Contact
Media:
media@wellgisticshealth.com
Investor Relations:
IR@wellgisticshealth.com
Investor Relations Contact
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
Office: (646) 893-5835
Email: info@skylineccg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273075
FAQ
What did Wellgistics (WGRX) announce on November 4, 2025 about Kare Rx Hub?
How many physician and pharmacy relationships does Kare Rx Hub add to WGRX?
Will the KareRx acquisition expand Wellgistics' telemedicine capabilities for WGRX?
Is the Wellgistics–KareRx deal cash or stock for WGRX shareholders?
What is the market opportunity cited for WGRX's telemedicine dispensing strategy?
What are key risks investors should note about the WGRX acquisition of KareRx?
