Progressive Care Inc. Executes Agreement to Purchase Florida Pharmacies

March 12, 2019
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MIAMI – March 12,2019 – Progressive Care Inc. (OTCQB:RXMD), a personalized healthcare services andtechnology company, announced today the execution of a purchase agreement toacquire a Florida pharmacy with two locations.

On March 8, 2019, ProgressiveCare Inc. executed an agreement to purchase 100% of the stock in FamilyPhysicians RX, Inc. aka Five Star RX, a Florida corporation (FPRX). FPRX has 2locations in Florida: Davie and Orlando. FPRX has approximately $18 million inannual revenues and $500,000 in net income as of December 2018, the integrationof which would yield $40 million in annual operating revenues for the Company.

The Company hascompleted phase one of acquiring FPRX through executing a definitive purchaseagreement and funding escrow. It anticipates the closing and consolidation intoProgressive Care’s financial statements to be in the second quarter of 2019. Perstate Medicaid rules, the Company has begun the 60 day advance notification regulatoryprocess with the Agency for Health Care Administration (AHCA). Upon receipt ofacceptance from AHCA, the Company will effectuate the closing. During thisperiod the Company will prepare and submit paperwork for the change ofownership to the DEA, Insurance Carriers, PBM’s, and other associated entities.

“This is the Company’s biggestmilestone to date,” said S. Parikh Mars, CEO of Progressive Care. “In a fewmonths’ time, the Company will double in size, move corporate offices into thenew building, and begin an exciting new chapter in our story. This acquisitionwill fundamentally change our reach, status, and longevity in this industry andwe look forward to expanding on our momentum and progress.”

About Progressive Care Inc.

Progressive Care Inc. (OTCQB:RXMD), through its PharmCo, LLC, is a South Florida health servicesorganization and provider of prescription pharmaceuticals, compoundedmedications, provider of tele-pharmacy services, the sale of anti-retroviralmedications, medication therapy management (MTM), the supply of prescriptionmedications to long-term care facilities, and health practice risk management.

Cautionary Statement RegardingForward-Looking Statements

Statements contained herein thatare not based upon current or historical fact are forward-looking in nature andconstitute forward-looking statements within the meaning of Section 27A of theSecurities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.Such forward-looking statements reflect the Company’s expectations about itsfuture operating results, performance, and opportunities that involvesubstantial risks and uncertainties. These statements include but are notlimited to statements regarding the intended terms of the offering, closing ofthe offering and use of any proceeds from the offering. When used herein, thewords “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target,”“intend” and “expect” and similar expressions, as they relate to ProgressiveCare Inc., its subsidiaries, or its management, are intended to identify suchforward-looking statements. These forward-looking statements are based oninformation currently available to the Company and are subject to a number ofrisks, uncertainties, and other factors that could cause the Company’s actualresults, performance, prospects, and opportunities to differ materially fromthose expressed in, or implied by, these forward-looking statements.

Investor Relations Contact:

Armen Karapetyan, ProgressiveCare

Senior Advisor BusinessDevelopment

Armen@progressivecareus.com

www.progressivecareus.com

www.pharmcopharmacy.com

Public Relations Contact:

Kathleen Gonzales, CMW Media

Kathleen@cmwmedia.com

www.cmwmedia.com

Web and Application DevelopmentContact:

Marcello Jaspan, Mass VenturesCorp

Marcello@massventurescorp.com

www.massventurescorp.com

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