Replies to post #106357 on Progressive Care Inc (RXMD)

[LEVEL TWO CASH]

Good info in here thank you!

[RIOgrande44]

Nice!! Thanks.

[stockforce]

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.

[stockforce]

FAMILY PHYSICIANS RX ANALYSIS PART 1 - 12-2-2018

In this 2017 list of Large Group National Pharmacy Directory from Hometown Health Insurance Company, The only Independent pharmacy that has locations both in Orlando and Davie is Five Star Rx. PharmCo is in this list too.
https://www.hometownhealth.com/wp-content/uploads/2015/06/Large-Group-Pharmacy-Listing-National-2017-Final1.pdf

Five Star Rx is owned and operated by Family Physicians Rx Inc.
https://pharmacygps.com/drugstore/five-star-rx-1003871492/
https://pharmacygps.com/drugstore/five-star-rx-1972776037/

The owner and CEO of Family Physicians Rx is Larry Pizik. He currently is also the President of Intramed, Inc. in Florida.
https://www.corporationwiki.com/Florida/Hollywood/intramed-inc-6339466.aspx

Larry Pizik is also the Principle at Patient's Choice Pharmacy, LLC in Florida.
https://www.corporationwiki.com/Florida/Davie/patients-choice-pharmacy-llc/66064866.aspx

Larry Pizik is also the President of LWD Holdings Inc. in Florida. https://www.corporationwiki.com/p/32hsax/lwd-holdings-inc

LWD Holdings is named after the first letters of Larry Pizik, Warren Pizik and Dave Singh.
Dave Singh currently is the Operations Manager at Five Star Rx
https://www.linkedin.com/in/dave-singh-75729416b/

Five Star Rx's previous COO is Kunal Vyas. He worked at Five Star Rx from Jan 2012 to Feb 2018
https://www.linkedin.com/in/kunal-vyas-42a4581b/
He said in his Linkedin that he "Guided the Company to annual sales of $17,000,000"
He is also the 1st-degree connection with Armen Karapetyan on Linkedin, Prgressive Care's founder and board member.

So, it looks like Progressive Care's $18M revenue acquisition target is most likely Five Star Rx.
https://www.fivestarrx.com/

Progressive Care Signs Letter of Intent to Purchase Florida Based Pharmacy with $18 million in Annual Revenue
https://www.otcmarkets.com/stock/RXMD/news/Progressive-Care-Signs-Letter-of-Intent-to-Purchase-Florida-Based-Pharmacy-with-18-million-in-Annual-Revenue?id=211633