In recent corporate restructuring, TRxADE Health, Inc. (NASDAQ:MEDS) announced on Monday the appointment of Subbarao Jayanthi to its board of directors, effective June 17, 2024. Concurrently, the company disclosed the resignation of Narasimhan Mani from the board.
Subbarao Jayanthi brings a wealth of experience from his current role as Managing Partner at RxC International, LLC, a firm specializing in strategic growth advice for biopharma companies. His expertise extends to his positions as Board Member and Chief Business Officer at Interlude Biopharma and Senior Advisor to Modig Life Sciences.
Previously, Jayanthi held a significant position at Daiichi Sankyo and served in leadership capacities at global strategy consulting firms. His educational background includes an MBA from the Kellogg (NYSE:K) School of Management at Northwestern (NASDAQ:NWE) University.
The company's board believes Jayanthi's extensive background in advising biopharma companies positions him as a valuable asset for TRxADE Health's future endeavors.
Narasimhan Mani's departure from the board was described as voluntary and not due to any disagreements or disputes with the company's operations or practices.
The details of this corporate development are based on a press release statement and have been filed with the Securities and Exchange Commission (SEC) as part of an 8-K submission on June 20, 2024. The filing also notes that the terms of Jayanthi's compensation align with the company's standard practices for independent directors, though specific committee assignments have yet to be determined.
TRxADE Health, headquartered in Lutz, Florida, operates within the wholesale drug industry and is known for its proprietary and sundry drug offerings. The company has undergone several name changes over the years, with its origins as Bluebird Exploration Co. before transitioning through XCELLINK International Inc. and TRxADE Group, Inc.
The announcement of these board changes comes without additional commentary on the strategic implications for the company. However, it signifies ongoing adjustments within the organization's leadership structure.
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