Progressive Care Begins Construction at 400 Ansin Building and Satisfies Sellers Note
June 01 2020 - 7:24AM
InvestorsHub NewsWire
MIAMI, FL -- June 1, 2020 -- InvestorsHub NewsWire
-- Progressive
Care Inc. (RXMD)
(“Progressive Care” or the “Company”),a personalized healthcare
services and technology company, is pleased to announce that the
Company has selected Atlas Construction and Management LLC (the
“Contractor” or “Atlas”)for the construction project at 400 Ansin
Blvd in Hallandale Beach, FL.
The Company has begun the work to consolidate its North Miami
Beach and Davie locations into a single large-scale pharmacy
operation. The consolidation is expected to drive cost savings of
more than $300K, which will be realized in Q1 2021 financial
data.
Atlas provides general contracting services to both residential
and commercial customers throughout South Florida. The firm has
successfully completed over 1,500 projects in the region. Atlas
worked with De mello Architecture of Boca Raton, FL, to establish
the architectural plan driving the project. The project is expected
to be complete in the early part of Q4 to allow for a seamless move
before the end of the year.
S. Parikh Mars, CEO of Progressive Care, remarked, “The project
at 400 Ansin has been in the planning stages for most of the past
year and represents a cost-effective step for Progressive Care as
we continue to refine our direct geographic footprint as part of
our long-term growth strategy. Atlas has a spotless record and a
well-earned reputation for first-class quality. We look forward to
the project’s timely completion.”
The Company also announced it has satisfied the Seller’s note
issued in December 2018 by the previous owners of 400 Ansin, thus
reducing balance sheet liabilities by $300,000 plus interest. This
is welcomed news to management as it finalizes its Form S-1 for
submission.
For more information about Progressive Care, please visit the
company’swebsite.
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
FiveStar RX
https://www.fivestarrx.com/
https://www.facebook.com/fivestarrx/
About Progressive Care Inc.
Progressive Care Inc. (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 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, ProgressiveCare
Senior Advisor Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com
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