Latest news with #Wellgistics
Miami Herald
28-05-2025
- Business
- Miami Herald
Wellgistics Health Strengthens Executive Team and Board with Strategic Appointments to Accelerate Scale and Drive Shareholder Value
TAMPA, FLORIDA / ACCESS Newswire / May 28, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX), a healthcare infrastructure company transforming the prescription drug ecosystem, today announced key additions to its executive leadership team and Board of Directors. These strategic appointments reflect the Company's commitment to executing on its growth strategy, enhancing operational scale, and delivering long-term shareholder value. Key Leadership Appointments Wellgistics has appointed a diverse and deeply experienced group of executives to drive execution across the Company's operations: Tony Madsen, Chief Operating Officer (COO) - A seasoned executive with over a decade of regulatory compliance, cybersecurity, and healthcare operations scaling experience. Mr. Madsen will oversee execution across Wellgistics' platform and ensure cross-functional alignment and operational excellence. Since 2020, he served as Managing Partner at Nomad Capital, an investment firm dedicated to reshaping capital structures and fine-tuning operational efficiencies. For the six years prior, he was Director of Cybersecurity at Cingo Solutions, an SOC2-certified managed detection and response cybersecurity provider. He holds a degree in Economics from Brigham State University. Shelley Bailey, Chief Revenue Officer (CRO) - A proven growth strategist, Ms. Bailey brings deep industry knowledge and leadership in scaling healthcare sales teams and revenue operations across multiple verticals. Most recently, she served as Chief Strategy Officer at Wellgistics, where she combined her specialty pharmacy, government affairs, and supply chain experience to create tailored employer solutions. For the three years prior, she was the Chair of the Oregon Prescription Drug Affordability Board, a branch of that state's largest consumer protection and business regulatory agency. Between 2020 and 2025 she served as founder and CEO of Famlee Health, which provided clinical assessment, diagnosis and step-therapy treatment for fertility from home. For the seven years prior, Ms. Bailey was a Specialty Pharmacy Consultant to legislators, pharmaceutical, and healthcare companies with a focus on specialty pharmacy and 340B programs. Between 2000 and 2017 she was CEO and co-owner of Central Drugs Specialty Pharmacy in Oregon. She earned an MBA from Babson F.W. Olin Graduate School of Business. Srini Kalla, Chief Information Officer (CIO) - Mr. Kalla will lead the modernization of Wellgistics' digital and data infrastructure, driving the Company's AI integration strategy, compliance frameworks, and platform interoperability. Prior to joining Wellgistics, he worked with Optum Workers' Comp and Auto No-Fault, a Minnesota-based insurance company, where he first served as Executive Director and then Vice President IT. Previously, he was employed in Analyst-Security Operations and Specialist-Operations Support by Verizon Data Services. He holds MS and MIS degrees from the University of Florida. Vasudev Patel, Product Owner - Mr. Patel will spearhead product development across the Company's AI-driven prescription routing tools, pharmacy technology platforms, and digital patient engagement solutions. Prior to joining Wellgistics, Mr. Patel held the position of Agile Product Owner with Evernorth Health Services. From 2012 to 2022 he served as Senior Business Analyst at UnitedHealth Group. He previously held Business Analyst positions with both Express Scripts and Merrill Lynch/Bank of America. He holds an MBA, Finance, from Brain Wells University in London. Ari Aichbhaumik, Senior Vice President of Supply Chain - Mr. Aichbhaumik brings a strong track record of optimizing pharmaceutical supply chain networks at scale, with expertise in distribution, logistics, and global procurement. Before joining Wellgistics, Ari held a number of pharmacy operations management positions including Senior Vice President with Bayvrio, VP, Pharmacy Practice and Specialty Solution at Eversana, and Director of Pharmacy Operations at WellDyne, Inc. He holds degrees in Pharmacy from Temple University and Pharmaceutical Economics from University of Florida, as well as an MS, Computer Information and Business Management from the University of Phoenix. Kim Dresser, Director of Human Resources - Ms. Dresser will drive talent acquisition, culture transformation, and HR infrastructure as Wellgistics continues to scale nationally. Most recently, Kim served as Human Resources Director for Leonard Buildings & Truck Accessories, a 150-store, 18-state manufacturer and distributor. Previously, she was Human Resources Manager for MVP Group International, one of the world's largest manufacturers of private label scented candles. From 2016 through 2021 she served as Production Manager at World Wide Protective Products, a maker of custom hand and body protection products. She holds an Associate degree in Business Management from Surry Community college in North Carolina. Board Appointment Michael Peterson, Member, Board of Directors - A veteran public company executive and capital markets strategist bringing significant governance and financial experience, Mr. Peterson will help guide Wellgistics' strategic expansion and shareholder engagement. Since 2022 Michael has served as CEO, Director, and Founder of Lafayette Energy, a Utah based oil and gas exploration company. He also presently serves as Director with both the biopharma company, Ocean Biomedical, and with the energy exploration company, Indonesia Energy Corporation. Michael also served as Director and CEO with Trio Petroleum Corp and as Director with TRxADE Health, Inc. (Nasdaq: MEDS), a wholesale drug selling platform. He holds an MBA, Finance, from Brigham Young University Mariott School of Business. "This is more than just leadership expansion-it's the strategic assembly of a world-class team capable of executing on our national vision to fundamentally shift the way prescription drugs move across the supply chain in America," commented Brian Norton, CEO of Wellgistics Health. "We're not just optimizing logistics-we're rebuilding the infrastructure of healthcare medicine delivery to create lasting value for employer groups, patients, pharmacies, and the entire healthcare ecosystem." About Wellgistics Health Wellgistics Health, Inc. is a publicly traded healthcare infrastructure company redefining how medications move, are priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a nationwide network of over 6,000 independent pharmacies. Wellgistics Health provides real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment solutions, while equipping pharmacies with integrated financial, clinical, and digital tools. Its end-to-end platform supports a broad range of therapeutic areas from specialty-lite to chronic maintenance medications by eliminating friction, accelerating reimbursements, and enabling direct, transparent connections between manufacturers, providers, pharmacies, and patients. For more information, visit 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, Wellgistics Health's statements regarding Wellgistics Health's strategy and descriptions of its future operations, prospects, and plans, including without limitation its plan in connection with certain financings and cryptocurrencies and outlook and actions with respect to incurring future expenses. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from Wellgistics Health's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health's filings with the SEC, which are available for review at For more information, please contact: Media Contact: media@ Relations: investors@ Investor Relations Contact:Skyline Corporate Communications Group, LLCScott Powell, President1177 Avenue of the Americas, 5th FloorNew York, NY 10036Office: (646) 893-5835Email: info@ SOURCE: Wellgistics Health, Inc.
Yahoo
13-05-2025
- Business
- Yahoo
Florida Pharma Firm Will Use XRP for Real-Time Payments in $50M Financing Deal
A Florida-based pharmaceutical distributor is backing XRP as a treasury and payments asset, putting the token at the center of a $50 million financing deal. Wellgistics Health (WGRX) said Thursday it had secured an equity line of credit to support XRP-based reserves and infrastructure for real-time payments. The company plans to use the blockchain to settle transactions across its pharmacy network, manage vendor payouts, and issue credit lines backed by XRP. The move makes Wellgistics one of the few publicly listed U.S. firms to actively integrate XRP into its financial operations. XRP will help eliminate banking delays and lower settlement costs of fractions of a cent, two key resistance points in pharmaceutical supply chains. 'We believe that there are certain advantages to integrating XRP and its related infrastructure into its healthcare ecosystem,' the firm said in the release. 'XRP settles transactions in 3-5 seconds vs. 1-3 days for ACH or wire transfers, allowing for near real-time settlement among pharmacies, suppliers, and manufacturers. All transactions are logged on the XRP Ledger for real-time compliance, rebate tracking, and auditability,' it said, adding that the token will help process global vendor payouts at very low foreign exchange rates. The credit facility is being provided by New York-based LDA Capital. No timeline was provided for the XRP-based services would actually begin. Sign in to access your portfolio
Yahoo
11-05-2025
- Business
- Yahoo
Healthcare firm banks on SEC and Ripple settlement
Wellgistics Health (Nasdaq: WGRX), a public healthcare firm, said on May 8 that it is planning to not only add XRP to its corporate treasury but also integrate the token into its payment system. Once launched successfully, it would make Wellgistics among the first public healthcare companies to deploy XRP. The firm's equity line of credit worth $50 million will support the XRP payment initiative, it said. The payment system will connect manufacturers directly to pharmacies and patients. 'Others are waiting for change. We're building it,' Wellgistics Health CEO Brian Norton said. 'I strongly believe that our XRP initiative positions Wellgistics Health years ahead of the curve-and squarely at the center of where healthcare and fintech converge.' The firm cited Ripple's global presence, XRP's institutional demand, and its fast and cost-efficient transactions as the reasons behind its decision into integrate the token to its payments system. The firm also seems to be capitalizing on the Ripple case nearing its end. The securities violations case filed against the payments firm by the Securities and Exchange Commission (SEC) in December 2020 is nearing its end. On May 9, both parties officially filed a joint settlement agreement letter. Notably, XRP is among the select cryptocurrencies that are supposed to be added to the U.S. digital assets stockpile announced by President Donald Trump on March 2. Following the latest development on the case, XRP surged as much as 13% to $2.4 on May 9. As per Kraken's price feed, the token was trading at $2.35 at the time of writing. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
08-05-2025
- Business
- Miami Herald
CORRECTION FROM SOURCE: Wellgistics Health Secures $50M ELOC Facility for XRP Treasury Reserve and Real-Time Payments Infrastructure and Other General Ops
The correction is to the headline only TAMPA, FL / ACCESS Newswire / May 8, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX), a technology-first pharmaceutical distribution and healthcare infrastructure company, today announced a new initiative to pioneer the use of XRP, a blockchain-based digital asset, as both a treasury reserve and a real-time payments infrastructure-which management believes, upon successful commercialization, would make Wellgistics among the first publicly traded healthcare companies to deploy XRP in this manner. This XRP payment initiative is supported by Wellgistics Health's $50 million Equity Line of Credit (ELOC), the proceeds of which may be utilized to further develop and unlock programmable liquidity and on-demand financial infrastructure designed to eliminate banking delays, reduce cost, and increase transparency across its national healthcare network. "At Wellgistics Health, we challenge the idea that healthcare has to be tethered to legacy systems, bloated intermediaries, and slow-moving money," said Brian Norton, CEO of Wellgistics Health. "We are developing a platform that connects manufacturers directly to pharmacies and patients-bypassing the red tape and placing control back in the hands of those who deliver care. Our blockchain-enabled payment system and ledger is just the next logical step in healthcare evolution, allowing us to hardwire speed, liquidity, and transparency into a system that's long been starved of all three. I believe that the future winners in healthcare won't be the companies with the biggest buildings…they'll be those with the fastest rails, cleanest data, and most efficient platforms. We're betting on infrastructure…not inertia." Why XRP? Why Now? We believe that there are certain advantages to integrating XRP and its related infrastructure into its healthcare ecosystem. These include, among others: Speed: XRP settles transactions in 3-5 seconds vs. 1-3 days for ACH or wire transfers, allowing for near real-time settlement among pharmacies, suppliers, and Less than $0.0002 per transfer vs. $10-$30 for standard bank All transactions are logged on the XRP Ledger for real-time compliance, rebate tracking, and Supports global vendor payouts with significantly low foreign exchange and wire transfer Allows for XRP-backed lines of credit to support independent pharmacy liquidity. These benefits will support faster vendor payments, performance-based rebates, and embedded liquidity tools for pharmacies and manufacturers in the Wellgistics ecosystem. Use Cases Across the Ecosystem Real-time settlement between pharmacies, suppliers, and manufacturersSmart rebates calculated automatically based on real-world dataXRP-backed credit lines to enhance liquidity for independent pharmaciesGlobal vendor payouts with near-zero foreign transaction and wire costsImmutable compliance layer supporting DSCSA reporting and pricing validation "We're working to unlock capital velocity with surgical precision," said Mark DiSiena, CFO of Wellgistics Health. "We believe that our XRP-powered infrastructure will allow us to run leaner, faster, and with more control than any of our peers in pharma infrastructure." The Market Is Moving-And Wellgistics Intends to Lead XRP is gaining momentum across global institutions, as demonstrated by the following: CME Group to launch XRP futures for institutional access→ CME will launch cash-settled XRP futures contracts in May 2025 to meet rising institutional demand.¹Mastercard identifies XRP as a bridge currency for cross-border payments→ Mastercard's 2025 report highlights XRP as a top solution for global remittances and cost efficiency.²Ripple acquires prime brokerage firm Hidden Road for $1.25B→ This landmark acquisition expands XRP's footprint in institutional liquidity and asset servicing.³Ripple receives regulatory licensing in Dubai→ Ripple became the first blockchain payment provider licensed by the DFSA to operate crypto-based financial services in the UAE.⁴Ripple expands real-world cross-border payment corridors in Brazil and Portugal→ Ripple now enables live XRP-powered remittances between LATAM and Europe through its partnership with Unicâmbio.⁵ "Others are waiting for change. We're building it," Norton added. "I strongly believe that our XRP initiative positions Wellgistics Health years ahead of the curve-and squarely at the center of where healthcare and fintech converge." About Wellgistics Health Wellgistics Health, Inc. (NASDAQ:WGRX) is a publicly traded healthcare infrastructure company transforming how medications move, get priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a growing network of more than 6,000 independent pharmacies nationwide. Wellgistics Health delivers real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment models, while equipping pharmacies with embedded financial, clinical, and digital tools. Its integrated platform supports a wide range of therapeutic categories-from specialty-lite to maintenance meds-by eliminating friction, accelerating reimbursements, and creating direct, transparent pathways between manufacturers, providers, pharmacies, and patients. For more information, visit: 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, Wellgistics Health's 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 the actual results to differ materially from Wellgistics Health's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health's filings with the SEC, which are available for review at Media Contact: media@ Relations: investors@ References CME Group Press Release: CME to Launch XRP FuturesAInvest: Mastercard Identifies XRP as Bridge CurrencyReuters: Ripple Acquires Hidden Road for $1.25BBusinessWire: Ripple Licensed by DFSA in DubaiPYMNTS: Ripple Launches Portugal-Brazil Corridor SOURCE: Wellgistics Health, Inc.
Associated Press
08-05-2025
- Business
- Associated Press
CORRECTION FROM SOURCE: Wellgistics Health Secures $50M ELOC Facility for XRP Treasury Reserve and Real-Time Payments Infrastructure and Other General Ops
The correction is to the headline only TAMPA, FL / ACCESS Newswire / May 8, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX), a technology-first pharmaceutical distribution and healthcare infrastructure company, today announced a new initiative to pioneer the use of XRP, a blockchain-based digital asset, as both a treasury reserve and a real-time payments infrastructure-which management believes, upon successful commercialization, would make Wellgistics among the first publicly traded healthcare companies to deploy XRP in this manner. This XRP payment initiative is supported by Wellgistics Health's $50 million Equity Line of Credit (ELOC), the proceeds of which may be utilized to further develop and unlock programmable liquidity and on-demand financial infrastructure designed to eliminate banking delays, reduce cost, and increase transparency across its national healthcare network. 'At Wellgistics Health, we challenge the idea that healthcare has to be tethered to legacy systems, bloated intermediaries, and slow-moving money,' said Brian Norton, CEO of Wellgistics Health. 'We are developing a platform that connects manufacturers directly to pharmacies and patients-bypassing the red tape and placing control back in the hands of those who deliver care. Our blockchain-enabled payment system and ledger is just the next logical step in healthcare evolution, allowing us to hardwire speed, liquidity, and transparency into a system that's long been starved of all three. I believe that the future winners in healthcare won't be the companies with the biggest buildings…they'll be those with the fastest rails, cleanest data, and most efficient platforms. We're betting on infrastructure…not inertia.' Why XRP? Why Now? We believe that there are certain advantages to integrating XRP and its related infrastructure into its healthcare ecosystem. These include, among others: These benefits will support faster vendor payments, performance-based rebates, and embedded liquidity tools for pharmacies and manufacturers in the Wellgistics ecosystem. Use Cases Across the Ecosystem 'We're working to unlock capital velocity with surgical precision,' said Mark DiSiena, CFO of Wellgistics Health. 'We believe that our XRP-powered infrastructure will allow us to run leaner, faster, and with more control than any of our peers in pharma infrastructure.' The Market Is Moving-And Wellgistics Intends to Lead XRP is gaining momentum across global institutions, as demonstrated by the following: 'Others are waiting for change. We're building it,' Norton added. 'I strongly believe that our XRP initiative positions Wellgistics Health years ahead of the curve-and squarely at the center of where healthcare and fintech converge.' About Wellgistics Health Wellgistics Health, Inc. (NASDAQ:WGRX) is a publicly traded healthcare infrastructure company transforming how medications move, get priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a growing network of more than 6,000 independent pharmacies nationwide. Wellgistics Health delivers real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment models, while equipping pharmacies with embedded financial, clinical, and digital tools. Its integrated platform supports a wide range of therapeutic categories-from specialty-lite to maintenance meds-by eliminating friction, accelerating reimbursements, and creating direct, transparent pathways between manufacturers, providers, pharmacies, and patients. For more information, visit: 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, Wellgistics Health's 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 the actual results to differ materially from Wellgistics Health's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health's filings with the SEC, which are available for review at Media Contact: [email protected] Investor Relations: [email protected] References SOURCE: Wellgistics Health, Inc. press release
