Progressive Care Announces New Partnership With MyApps, Discontinues Plans to Acquire the Company
October 29 2020 - 1:56PM
InvestorsHub NewsWire
MIAMI, FL -- October 29, 2020 -- InvestorsHub
NewsWire -- Progressive Care Inc. (OTCQB:
RXMD) (“Progressive Care” or the “Company”), a personalized
healthcare services and technology company, today announced that
the Letter of Intent (the “LOI”) entered into on September 1, 2020,
for the Company to acquire substantially all of MyApps Corp.
(“MyApps”) has been terminated by the
companies.
Progressive Care and MyApps will
continue to work together amicably as partners, and the companies’
near-term priority will be to integrate CallingDr™, the popular
telemedicine and telehealth platform developed by MyApps, into
Progressive Care’s PharmcoRx digital platform and work together to
enhance Progressive Care’s ClearMetrX data analytics and data
management services.
“As the companies were working
diligently towards an acquisition, it became increasingly clear
that the parties would be better suited to be partners than to be a
single organization,” said Progressive Care Chief Executive Officer
Alan Jay Weisberg. “We’re extremely excited to continue our
partnership to make the CallingDr™ software platform an integral
part of our digital
offerings.”
“Our enthusiasm about working
together with Progressive Care remains unchanged,” said MyApps
Founder and CEO, Adnan Malik. “After broad and intensive analysis,
we collectively have concluded that we will be able to achieve more
as separate entities working as allies, and we have already
identified areas in which we believe we can add tangible value to
Progressive Care’s
offerings.”
“MyApps’ extensive and relevant
experience with healthcare software development will be highly
additive to our goals with ClearMetrX,” said Mr. Weisberg. “We
welcome their expertise, and we remain committed as ever to
exploring all meaningful ways to benefit our shareholders,
employees and
customers.”
For more information about
Progressive Care, please visit the company’s
website:
https://www.ProgressiveCareUS.com
Connect and stay in touch with us on
social media:
Progressive Care
Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo
Rx
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care
Inc.
Progressive Care Inc. (OTCQB:
RXMD), through its subsidiaries, is a Florida health services
organization and provider of prescription pharmaceuticals,
compounded medications, provider of tele-pharmacy services, the
sale of anti-retroviral medications, medication therapy management
(MTM), the supply of prescription medications to longterm care
facilities and health practice risk
management.
Cautionary Statement Regarding
Forward-Looking
Statements
Statements contained herein that are
not based upon current or historical fact are forward-looking in
nature and constitute forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
reflect the Company’s expectations about its future operating
results, performance and opportunities that involve substantial
risks and uncertainties. These statements include but are not
limited statements regarding the planned partnership between the
Company and MyApps, including potential integration of CallingDr™
into the PharmcoRx digital platform and working together to enhance
ClearMetrX data analytics and data management services. When used
herein, the words “anticipate,” “believe,” “estimate,” “upcoming,”
“plan,” “target,” “intend” and “expect” and similar expressions, as
they relate to Progressive Care Inc., its subsidiaries, or its
management, are intended to identify such forwardlooking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties and other factors that could cause
the Company’s actual results, performance, prospects and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking
statements.
Public Relations
Contact:
Carlos
Rangel
carlosr@pharmcorx.com
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