October 23, 2020
MIAMI, FL – October 26, 2020 – Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to announce that its Board of Directors has appointed Alan Jay Weisberg as Chief Executive Officer, effective October 15, 2020. Mr. Weisberg, the Chairman of the Company’s Board of Directors, had served as the Company’s interim Chief Executive Officer since August 2020, and as the Company’s Chairman of the Board of Directors since October 2010.
Mr. Weisberg has been the Chief Financial Officer of QuikByte Software, Inc., Chief Financial Officer of Getting Ready Corp., and Chief Financial Officer of Longfoot Communications Corp., and has more than thirty years of accounting experience. He is a principal in Weisberg and Company, a Boca Raton, Florida, accounting firm, and has served as an adjunct professor of introductory finance at Florida International University.
“I am very excited to lead Progressive Care on a permanent basis as we enter the next phase of our growth as an integrated, technology-driven healthcare services company,” said Mr. Weisberg. “We are working simultaneously on multiple fronts to dramatically expand our reach and relevance, while cultivating multiple sources of sustainable recurring revenue.”
“We continue to work toward the completion of the integration of CallingDr™ telehealth service app,” continued Mr. Weisberg, “and we are pursuing regulatory approval to expand our prescription drug mail-order service from the current 14 states to all 50, a move which we estimate will increase our total addressable market by more than $200 billion.”
The Company is also pleased to announce that Cecile Munnik has been appointed Chief Financial Officer, effective October 15, 2020. Ms. Munnik has served as the Company’s Director of Finance and Accounting since July 2020. Ms. Munnik has over fifteen years of accounting and finance experience and has served in finance and accounting leadership positions for companies and business units with annual revenues ranging from $100M to $3B. Prior to joining the Company, Ms. Munnik served as Director of Asset Management at Unified Women’s Healthcare, Director of Finance at The Service Companies and Manager of Financial Planning and Analysis at Lennox International.
“I am thrilled to be assuming more responsibility as the Company transitions into a multifaceted entity,” said Ms. Munnik. “I have great admiration for the team at
Progressive Care, and I look forward to executing on the Company’s financial priorities
to enhance value for all of our stakeholders.”
“It’s not hyperbole to say that this is the most exciting time for the Company since I first
became involved ten years ago,” said Mr. Weisberg further. “We believe our growth
trajectory has the potential to accelerate significantly in the coming years, which will
translate into greater value for our shareholders.”
For more information about Progressive Care, please visit the company’s website:
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Progressive Care Inc.
About Progressive Care Inc.
Progressive Care Inc. (OTCQB: 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 our planned expansion of the mail order services, the size of our addressable market, integration of the CallingDr app and the pace of our growth. 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.
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