Canadian on demand virtual pharmacy operator Mednow Inc (OTCMKTS:MDNWF) (CVE:MNOW) has emerged as a point of focus for many investors in recent times and over the course of the past month, the stock has managed to clock gains of as much as 44%.
Trading Data
On Monday, MDNWF stock ended flat at $1.01 with more than 50 shares traded, compared to its average volume of 2.1K shares. The stock has moved within a range of $1.0100 – 1.0100 after opening trading at $1.0173.
Partnership With PACE Consulting Benefits and Pensions Ltd. and PACE Consulting MGA Services Inc.
In light of such gains, it could be imperative for investors to consider taking a closer look at the Mendow stock. There was no news about the company yesterday but last week, Mendow had announced that it had gone into partnership with both PACE Consulting Benefits and Pensions Ltd. and PACE Consulting MGA Services Inc.
It is a marketing services agreement and as per its provisions, PACE is going to market the virtual pharmacy as well as the healthcare from Mendow to its members. It goes without saying that it is a major agreement for Mendow since it is going to open up a fresh pool of customers.
In addition to that, PACE is also going to use the services of Mendow for Business, the financial advisory and insurance brokerage of the company, in order to bring about growth in its institutional services business. It may be a good move to add the stock to your watch lists.
Key Quote
Karim Nassar, Mednow CEO, states, “Continuing to expand our Mednow For Business division will be one of our top objectives this year as we move into the growth phase of our business. We plan to increase our partnerships with established and reputable brokers, and PACE Consulting is a great addition to our portfolio of clients. Mednow hopes to offer PACE, through the marketing of Mednow’s services, a unique digital healthcare solution to its customer base. Conversely, Mednow hopes that its strategic partnership with PACE can assist in accelerating the addition of benefit plan sponsors to the Mednow platform and help bring our comprehensive patient-centric healthcare platform to more residents of Canada, ultimately to help them meet their health and wellness life goals.”
