Replies to post #106432 on Progressive Care Inc (fka RXMD)

[HeadHunter]

Very Interesting SF. Very......

Time will tell, that is for sure.

I am just sitting back and waiting with my shares for now.

RXMD.

Thanks for putting that together. Good stuff.

[stockforce]

It's very clear now. The $18M revenue acquisition target Five Star Rx's legal business name (LBN) is Family Physicians Rx.
https://npidb.org/organizations/suppliers/community-retail-pharmacy_3336c0003x/1003871492.aspx

Family Physicians Rx was incorporated in 2006 by Vyas family and Pizik family. Vyas family is the owner of the 22 location Family Physicians Group (acquired by Humana in April 2018).
http://search.sunbiz.org/Inquiry/CorporationSearch/ConvertTiffToPDF?storagePath=COR%5C2006%5C0210%5C70143957.Tif&documentNumber=P06000017834

The incorporator, Indrajit Vyas' address is 6320 Old Winter Garden Rd in Orlando. This is the same address as Family Physician Group's Metro West location in Orlando.
https://www.fpg-florida.com/locations/19/Metro-West

Once again, Five Star Rx's Orlando location is the same address as Family Physicians Group's headquarters address in Orlando.
https://www.fivestarrx.com/orlando
https://www.fpg-florida.com/locations/24/Semoran/

What I'm trying to say is if Progressive Care's acquisition target is this one, then they will indeed have REAL access to all Family Physicians Group customers, including potential new Humana customers.

Take a look at what Five Star Rx's current Pharmacy Manager has to say about this pharmacy on his Linkedin:
https://www.linkedin.com/in/matthew-reik/
"I serve as the leader for a pharmacy dispensing more than 1300 prescriptions daily." That's 39,000 prescriptions in a month!

This pharmacy's former COO Kuanl Vyas also says this on his Linkedin:
https://www.linkedin.com/in/kunal-vyas-42a4581b/
"Guided the Company to annual sales of $17,000,000."

Read again the services being provided at this pharmacy. Then compare to what Progressive Care's PharmCo is doing today. Their ideologies are very good match. Just like Progressive Care's CEO Ms. Mars said: "The vast majority of the target pharmacy’s patient base is in Orlando, and they provide similar services to PharmCo such as home delivery, MTM, medication synchronization, full range inventory, etc. The target pharmacy had just under $16 million in revenue in 2017 and is projected to have approximately $18 million for 2018."
https://www.fpg-florida.com/medical-services/pharmacy/
https://www.pharmcopharmacy.com/
https://finance.yahoo.com/news/progressive-care-signs-letter-intent-130000343.html?.tsrc=rss

"The vast majority of the target pharmacy’s patient base is in Orlando". Take a look at all 22 locations of Family Physicians Group here. They are all centered around Orlando.
https://www.fpg-florida.com/locations/

Don't wait till they officially announce their acquisition details. Because all my research have clearly indicated it will be Family Physicians Rx, Inc. (LBN). Progressive Care definitely has found a Gold mine. Their business will only grow explosively from this point on.

[stockforce]

Family Physicians Group Pharmacy picture at 2285 S Semoran Blvd, Orlando, FL
https://www.fpg-florida.com/locations/24/Semoran/



This is the sign for Family Physicians Group at 2285 S Semoran Blvd. On the bottom of the sign, it says "Pharmacy"

https://www.google.com/maps/@28.517979,-81.3091,9a,37.7y,90t/data=!3m8!1e2!3m6!1sAF1QipOSy58uuP04SFYPUiqCYiZocKA1UTwMFODXx-zJ!2e10!3e12!6shttps:%2F%2Flh5.googleusercontent.com%2Fp%2FAF1QipOSy58uuP04SFYPUiqCYiZocKA1UTwMFODXx-zJ%3Dw365-h648-k-no!7i2340!8i4160

This is the exact same address as Five Star Rx's Orlando location.
https://www.fivestarrx.com/orlando

The picture was taken in 2017 before the whole Family Physicians Group was acquried by Humana in April 2018. Its website used to have a link to their Pharmacy Service in the Medical Services section:
https://www.fpg-florida.com/medical-services/pharmacy/

Now after the Group was acquired, this link and all related pharmacy service content in the Home Page have been removed:
https://www.fpg-florida.com/medical-services/

This is because they did not sell the pharmacy service section to Humana, instead, they put it under Family Physicians Rx, Inc, which is the mother company of Five Star Rx, Inc, which has the exact same address as this location in Orlando.

So if Progressive Care's $18M acquisition target is indeed this Five Star Rx, then... please read my previous posts on this topic.

Progressive Care Signs Letter of Intent to Purchase Florida Based Pharmacy with $18 million in Annual Revenue
https://progressivecareus.com/progressive-care-signs-letter-of-intent-to-purchase-florida-based-pharmacy-with-18-million-in-annual-revenue/