Progressive Care Inc (fka RXMD)

[Jimmy Quick]

Progressive Care Establishing Growth, for shareholders as they are large shareholders too.

Progressive Care Enters Into Definitive Agreements to Purchase the Pharmacy in Palm Beach County
Miami, FL -- April 02, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a healthcare services and technology company, announced today that it has entered into definitive agreements with the pharmacy in Palm Beach County that was previously under LOI. The operation has experienced staff, all applicable licenses, commensurate PBM contracts as PharmCo, LLC, and a Parata PASS 500 unit dose packaging system.

The acquisition of this pharmacy in Palm Beach County will facilitate growth by increasing the delivery radius into Martin County which includes Jupiter and Stuart. It will also decrease costs of expansion and increase prescription dispensing efficiency. The location has the adequate facility space to provide the opportunity to develop new processes for long term care services, compounded medications, and tele-pharmacy services.
On March 30, 2018, the Company executed a definitive agreement to purchase the pharmacy in Palm Beach County. The Company completed necessary due diligence and released $40,000 that was held in escrow pursuant to the previously issued letter of intent. The agreement calls for a stratified payment structure for the total purchase price of $300,000 USD. To date $150,000 has been released to the sellers, $75,000 has been placed in escrow to be released along with an additional $75,000 (not in escrow) upon completion of the Change of Ownership process with relevant regulatory authorities and insurance carriers. This process is expected to take 60 to 120 days following the filing of all necessary paperwork and applications. Upon receipt of all required approvals from regulatory agencies and completion of all notification periods, the Company will close on the transaction.
On March 30, 2018, PharmCo, LLC entered into an interim management agreement with the subject pharmacy. Under this agreement, PharmCo will assume all day-to-day management of the pharmacy, which includes assumption of all revenue and expenses. The agreement will remain in effect until completion of the Change of Ownership process, at which time the subject pharmacy will become the wholly owned subsidiary of Progressive Care Inc.
"This is a momentous day for the Company," stated S. Parikh Mars, CEO. "We are excited to enter the next phase of this transaction. While there is still more work to do, we believe that adding this second location is going to facilitate many of our growth objectives including tele-pharmacy, long term care, and expanded delivery radius."

Progressive Care Signs Two New 340B Contracts to Bring Discounted Prescription Programs to Non-Profit Healthcare Institutions
Miami, FL -- July 19, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that they have signed two new 340B contracts, furthering their commitment to providing non-profit or charitable healthcare institutions with significantly reduced prices on needed medications. The contracts with Hope and Help Center of Central Florida and Care 4 U Management will begin on Oct. 1, 2018.
Throughout June 2018, Progressive Care's wholly owned subsidiary PharmCo LLC filled approximately $430,000 worth of covered medications for 340B entities (not recognized in net revenues), generating over $22,500 in fees to the pharmacy, a 250% increase over the same month last year. The total value of 340B covered medications dispensed through the first 2 quarters of 2018 was approximately $2.75 million generating $125,000 in net fees to the pharmacy.
"Allowing the company to diversify and benefit from our proactive patient engagement and risk management models. We believe that success of our initiatives will lead to more opportunities like these to enhance our growth and execute our overall missionwhile, programs have had a positive impact on communities340B"," said S. Parikh Mars, CEO of Progressive Care Inc. the need for advanced pharmacy services for vulnerable high-risk populationsillustrate canProgressive Care new 340B contractual relationships, theseThrough"

Progressive Care Launches New DischargeRX Program to Improve Engagement Between Patients and Hospitals
MIAMI FL -- July 13, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced the launch of its new proprietary patient engagement program, DischargeRX, designed to ensure that hospital patients are receiving the best transitional care while preserving vital hospital resources.
According to a 2017 study published in the Journal of the American Pharmacists Association, up to 26% of hospital readmissions are medication-related, creating a much-needed opportunity for a program to be created that is proactive towards patient engagement. Through Progressive Care's wholly owned subsidiaries, DischargeRX will provide hospitals with much needed support in preventing unnecessary and costly hospital readmissions. At no cost to the hospital or patient, the program will provide access to a PharmCo representative who will offer medication-related services throughout the patient's transitional process.

Progressive Care Installs New TCGRx Pouch Packaging System in Miami
Leading Florida-Based Healthcare Services and Technology Company
Continues Expansion of Robot Pharmacy Machinery Fleet
Miami, FL -- June 05, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that the company has completed the installation of a TCGRx Automated Pouch Packaging System at its Miami-Dade County PharmCo location. Customarily used in hospital and facility settings, the new TCGRx system makes Progressive Care one of only a few pharmacies in South Florida to offer this kind of packaging to traditional patients. This innovative packaging system also allows the company to offer tailored medication administration solutions to long-term care facilities that often have limited options.