Trxade Health (MEDS) Stock Is Moving Higher: What's Going On?

TRxADE HEALTH Inc MEDS shares are trading higher Tuesday. The company announced that the food technology and distribution company it recently merged with agreed to acquire The Urgent Company and its portfolio of brands.

What's Going On: Superlatus, which recently announced a merger with Trxade Health, entered into a binding agreement to acquire The Urgent Company and brands including Coolhaus, Brave Robot, Modern Kitchen and California Performance Co from Perfect Day.

The aforementioned brands are sold in more than 6,000 stores including Whole Foods, Kroger, Costco and Thrive Market. The deal is expected to strengthen Superlatus' position in the sustainable food products space. 

"Together, our shared interest in the sustainable and equitable food sectors will, we believe, allow us to expand our market presence and pursue a number of new opportunities to grow our brands together," said Tim Alford, interim CEO of Superlatus.

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MEDS Price Action: Trxade Health shares are up more than 110% over the last three months.

MEDS shares were up 10.6% at $8.28 at the time of writing, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.