Progressive
Care Inc. Announces Formation of RXMD Therapeutics Inc.
Specializing in Cannabinoid-Based and
Alternative Nutraceutical
Products
MIAMI, FL -- October 1, 2019 -- InvestorsHub NewsWire
-- Progressive
Care Inc. (OTCQB:
RXMD),
a personalized healthcare services and technology company, today
announces formation
of its
wholly owned subsidiary, RXMD Therapeutics Inc., specializing in
cannabinoid-based and alternative
therapy
product
lines.
"We are excited
to make this official announcement, RXMD Therapeutics Inc. has been
in the planning stages this past year" said S. Parikh Mars, CEO of
Progressive Care Inc. "We believe we have finally
found a pathway where we can provide cannabinoid and homeopathic
products that meet our strict quality requirements while also being
able to manage these therapies from a health and wellbeing
perspective."
Progressive
Care Inc.
will
develop and produce proprietary cannabinoid and homeopathic
products that will be solely offered from RXMD Therapeutics Inc.
The first line of production will consist of tinctures, skin
creams,
roll-ons
and
gel capsules which are the dosage forms most easily managed by
retail patients. RXMD
Therapeutics brands will be tested for consistency and quality
assurance prior to release and periodically thereafter.
The
formation of RXMD Therapeutics Inc. was discussed with Progressive
Care Inc.'s shareholders during the first quarter 2019 quarterly
report conference call on May 15, 2019. The Company announced plans
to market current CBD brands and leverage the cash buying customer
base to fortify against insurance rate compression and increase
profitability.
The Company discussed plans
to produce an exclusive line of products that incorporates the
Company's brand and mission to further develop its core market base
and healthcare capabilities.
"2019
has moved at an unprecedented pace," said S. Parikh Mars, CEO of
Progressive Care. "In the past 4 months, Progressive Care has
doubled
in
size in almost every measurable way, not only gaining sales,
locations, or economies, but a wealth of talent that includes
expertise in pharmaceutical logistics, operational management, and
clinical awareness. We believe that offering
quality natural products is a logical step forward in our
development and is consistent with our mission to elevate
healthcare."
For more
immediate updates on the company's media coverage, connect with
Progressive Care and PharmCo on social media:
Progressive
Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo,
LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About
Progressive Care Inc.
Progressive Care
Inc. (OTCQB: RXMD), through its PharmCo, LLC, is a
South 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 long-term care facilities, and health practice risk
management.
About RXMD
Therapeutics,
Inc.
RXMD Therapeutics
Inc. is a wholly owned subsidiary of Progressive Care Inc.
(OTCQB: RXMD) specializing in
cannabinoid-based and alternative
nutraceutical
products.
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 to statements regarding the intended
terms of the offering, closing of the offering and use of any
proceeds from the offering. 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 forward-looking 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:
Kathleen
Gonzales, CMW Media
kathleen@cmwmedia.com
www.cmwmedia.com
Investor
Relations Contact:
Armen Karapetyan,
Progressive Care
Senior Advisor
Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com