Progressive Care Inc (fka RXMD)

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FAMILY PHYSICIAN RX ANALYSIS PART 2 - 12-3-2018

Part 2 of investigation in Five Star Rx. As explained in the previous post, Five Star Rx is a wholly owned subsidiary of Family Physicians Rx. Inc.

The Orlando location of Five Star Rx is very interesting. It occupies the same address as a big local medical group called Family Physicians Group, which has 22 locations in Florida with over $250 million revenue and over 500 employees.

https://www.fpg-florida.com/
2285 S. Semoran Blvd
Orlando, FL 32822

The current owner of Family Physicians Rx. is Larry Pizik. He started this company with Indrajit Vyas in 2006. Indrajit is the daughter of Nayana Vyas and Andy Vyas, who are the founder and president of Family Physicians Group, which was incorporated in 1987 in Orlando.

Throughout the years, the Vyas family expanded the group from a single clinic to today's $250M company. Here's a touching story of how Nayana Vyas persevered through all the pains to be so successful today.
http://www.i4biz.com/profiles/dr-nayana-vayas/


On April 10, 2018, Humama acquired all 22 locations of Family Physicians Group.
https://press.humana.com/press-release/regional-news/humana-acquires-family-physicians-group-central-florida
https://www.bizjournals.com/louisville/news/2018/04/11/humana-expands-medicare-business-with-acquisition.html

Now Five Star Rx's Orlando location is actually the same as the Headquarters of this new Humana/Family Physician Group. That's because Family Physicians Group used to have Pharmacy Service before it was acquired by Humana:
https://www.fpg-florida.com/medical-services/pharmacy/

After it was acquired by Humana, they do not show this service on their website under Medical Service section anymore.
https://www.fpg-florida.com/medical-services/

Long in short, the founder of Family Physicians Group Nayana Vyas’ daughter stared Family Physicians Rx. Inc. with Larry Pizik in 2006. Nayana sold all 22 locations of the Group to Humana in April 2018, but retained their pharmacy service, which they called “thir preferred pharmacy services (FPRx)". FPRx stands for Family Physicians Rx, Inc. It’s shown on the bottom of this page:
https://www.fpg-florida.com/medical-services/pharmacy/

The owners of Family Physicians Rx, Inc, Larry Pizik and Vyas family took over the pharmacy service and put it under Five Star Rx, Inc, which shares the same Orlando address as the Headquarters of Family Physicians Group. Then Five Star Rx (highly likely) will be acquired by Progressive Care in Jan 2019 as already explained in my previous post.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145212897

Isn’t this whole thing very interesting? Let’s see where all these will lead us to.