DataMeds AI, Inc.

What they do

The company operates as a wholesale drug distributor under SIC code 5122, combining pharmacy operations and pharmacist relationships with an artificial intelligence platform (EinsteinRx) and a blockchain-based smart contract platform (PharmacyChain). It sells prescription drugs and related products through its pharmacy-focused division Corexa Health and has begun offering a companion medical food, Forzet, for weight-loss therapy patients. Management is also developing a consumer health application, Health Lives Here (HLH), planned for launch with NFL Alumni Health in September 2026.

Revenue drivers

• Prescription drug wholesale and pharmacy operations — The company derives a portion of sales from prescription drug sales reimbursed by pharmacy benefit management companies, with reported annual revenue of $18.1M in 2024 and $23.3M in 2025.
• Corexa Health pharmacy division — Rebranded Corexa Pharmacy began generating material revenue after a KareRx joint venture added Electronic Benefits Verification and access to 200,000 patient lives.
• Planned Health Lives Here consumer app — A September 2026 launch with NFL Alumni Health targets patients on or considering GLP-1 medications in rural communities through independent pharmacies; no revenue has been reported from this product yet.
• Health data monetization — The company intends to tokenize and monetize patient health data through a Datavault AI license, but this line has produced no reported revenue to date.

Recent performance

Second quarter 2026 revenue was $1.779M, up 14% from the prior-year period and above management projections. Quarterly revenue has otherwise declined from $3.0M in Q3 2025 to $1.7M in Q4 2025, $1.6M in Q1 2026 and $1.8M in Q2 2026. The company reported a net loss of $101.3M for full-year 2025 versus a $6.9M loss in 2024, with diluted EPS of -$1.43. Operating cash flow was -$10.9M in 2025 compared with -$1.2M in 2024. As of June 30, 2026, total assets were $32.8M against total liabilities of $52.3M, leaving shareholder equity of -$19.5M and cash of $2.5M.

Strategy

Management describes a turnaround effort funded by $6.5M of new capital raised in June 2026. It is consolidating intellectual property through a pending transaction with Datavault AI, EOS Technology Holdings, Scilex Holdings and HealthBridge Associates covering blockchain, biometrics and pharmaceutical-adjunct products. Stated priorities include launching the Health Lives Here app with NFL Alumni Health in September 2026, acquiring a CLIA lab for direct-to-consumer testing, and developing a drone delivery service with biometric confirmation of delivery. A 1:50 reverse split was implemented in May 2026 to partially address NASDAQ delisting risk, and the corporate name was changed from Wellgistics Health, Inc. to DataMeds AI, Inc. in July 2026.

Risks

• Stockholder deficit and going-concern pressure — At June 30, 2026 the company had $19.5M of negative shareholder equity, $52.3M of liabilities against $32.8M of assets, and only $2.5M of cash.
• NASDAQ listing risk — The company received a delisting notice or listing-rule failure on June 12, 2026 and implemented a 1:50 reverse split in May 2026 to partially address that risk.
• Pharmacy reimbursement and margin pressure — The company cites pharmacy mix shifting to lower-margin plans, margin compression on branded medications, and direct and indirect remuneration fees as risks, and depends on PBM reimbursement for a portion of sales.
• Unproven new products and transactions — The Health Lives Here app, data tokenization, CLIA lab and drone delivery initiatives are planned, not operating at scale, and the Neuritek Therapeutics acquisition was terminated in May 2026.

Outlook

Management expects to launch the Health Lives Here consumer app with NFL Alumni Health in September 2026 and says the $6.5M raised in June 2026 supports the corporate turnaround. It states intent to acquire a CLIA lab, integrate patient data into EinsteinRx, and move data onto the blockchain under the Datavault AI license. No specific revenue or earnings guidance is provided in the release.