Shares of Wellgistics Health, Inc. (WGRX) are up by 25% after the company announced a new joint venture aimed at expanding access to more than 200,000 patient lives.
Wellgistics Health, a healthcare technology and pharmaceutical distribution company, has executed a definitive joint venture agreement with Kare PharmTech's subsidiary, KareRx Hub. The collaboration formalizes a previously announced letter of intent and brings together both organizations' technology platforms and operational teams into a single integrated ecosystem.
The combined platform merges Wellgistics' proprietary systems- including EinsteinRx and HubRx AI-driven digital hub that supports retail pharmacy, telemedicine, and specialty pharmaceutical programs. According to the companies, the integration is designed to streamline the prescription process from intake through fulfilment, improving coordination between providers, pharmacies, and patients.
Wellgistics CEO Prashant Patel said the joint venture strengthens the company's ability to support patient access and enhance operational efficiency across the prescription journey. The collaboration aligns clinical, operational, and commercial teams, enabling smoother workflows for eligibility checks, benefits verification, prior authorization, prescription routing, and direct-to-patient fulfilment.
The combined ecosystem includes a growing national network of independent pharmacies, provider groups, and telehealth channels. Based on internal estimates, the platform has potential to reach more than 200,000 patient lives.
WGRX has traded between $0.09 and $7.04 over the past year. The stock is currently trading at $0.15, up 25%.
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