Shares of GoodRx Holdings, Inc. (GDRX) gained over 10% on Wednesday morning after the healthcare company signed a direct contracting agreement with the Kroger Co.
GDRX is currently trading at $7.38, up $0.72 or 10.90%, on the Nasdaq. The stock opened its trading at $6.66 after closing Tuesday at $6.65. The stock has traded between $4.14 and $9.37 in the past 52-week period.
GoodRx announced a new direct contracting agreement with Kroger Co. to deliver improved prescription pricing at more than 2,200 Kroger family pharmacy locations nationwide.
Starting June 1, 2024, patients can present a GoodRx coupon at Kroger Family of Pharmacies to receive almost 50% more savings on the expected patient price for most generics, compared to previously available prices on their prescription medications.
"We are excited to renew our relationship with Kroger," said Scott Wagner, Interim CEO of GoodRx. "Kroger has been a valuable participant in the GoodRx marketplace over the years and an innovator in healthcare, nutrition and wellness. We've leveraged our direct contracting model to reach an agreement that we believe supports Kroger's business goals and helps patients get the prescriptions they need at affordable prices."
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