Progressive Care Inc. Announces
Closing Date for Acquisition of Florida Pharmacies
MIAMI
– May
28,
2019 -- InvestorsHub NewsWire -- – Progressive
Care Inc. (OTCQB:
RXMD), a
personalized healthcare services and technology company, announced
today the closing date of June 1, 2019 for the acquisition of
Family Physicians RX, Inc.,
dba
Five Star RX and Florida corporation (FPRX).
The
closing will take place on June 1, 2019 and the release of funds
will take place on June 3, 2019. The Company's auditors will
observe closing inventory counts on June 2nd
and
June 3rd
after
which additional paperwork can be filed with regulatory agencies.
Progressive Care will have multiple opportunities
post-closing
which include expansion to the I-4 corridor of Florida, including
Tampa, Orlando and Daytona
areas.
The Company expects to bring on additional talent, an 80% increase
in monthly revenue, and positive cash flows from FPRX
operations.
"This is
a major milestone
for our company and team," said S. Parikh Mars, CEO of
Progressive Care. "We are looking forward to this
next step in FPRX joining the Progressive Care
family. We
are effectively doubling in size and believe this addition will
amplify our ability to provide patients with quality
care. This
acquisition fundamentally changes
our reach, status,
and longevity in this industry."
For
more information about Progressive Care, please visit the
company's website.
Connect and stay in
touch with us 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.
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.
Investor Relations Contact:
Armen
Karapetyan, Progressive Care
Senior Advisor
Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
Public Relations Contact:
Kathleen
Gonzales, CMW Media
Kathleen@cmwmedia.com
www.cmwmedia.com
Web and Application Development Contact:
Marcello Jaspan,
Mass Ventures Corp
Marcello@massventurescorp.com
www.massventurescorp.com
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