Progressive Care Issues 2020 Mid-Year Corporate Update

June 12, 2020

MIAMI, FL– June 12, 2020 – Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”),a personalized healthcare services and technology company, is pleased to issue the following progress update as the Company prepares for an exciting second half of 2020.

 

Dear Valued Shareholders,

 

The Company has been diligently working toward our Form S-1 filing with the SEC. The context we anticipated for calendar Q2 when we entered 2020 has been radically transformed by the global SARS-CoV-2 pandemic healthcare crisis. Amid this transformation, we felt it was most important to ensure the safety and stability of our patients, employees, and the company itself, which demanded a reprioritization in our strategic objectives.

 

However, please know that, as of this moment, there is no more pressing priority for Progressive Care than the filing of our FormS-1.

 

As CEO, I feel that this document should fully represent the vision and model for the future of our company. We are attemptingto anticipate as many of the SEC’s comments in advance to minimize the duration and complexity of the comment period.

 

We understand that, as shareholders, you have been patient and you deserve to see this Company make good on its promise to deliver this objective. Please know that we have not in any way downgraded or eliminated this filing as an essential priority. We are devoting the time and energy of every corporate staff member to this effort right now.

 

Looking ahead, we continue to make important strides in the evolution of Progressive Care toward a more scalable and geographically unbound health services technology  business model, with an increased emphasis on delivering third-party administrative services to a new range of clients seeking risk management, data management, adherence management, and data analytics. Among our targets are Management Service Organizations (MSO’s), Managed Care Organizations (MCO’s), Accountable Care Organizations (ACO’s), and Hospitals.In addition, we plan to further augment our services offering to include an increased emphasis on Federally Qualified Health Centers (FQHC’s). As we accumulate new partners, we will also be accumulating collateral knowledge capital from these new partnerships and relationships.

 

Finally, we have begun construction at the 400 Ansin location in Hallandale Beach, FL,where we are consolidating our North Miami Beach and Davie locations into a single large-scale pharmacy operation, allowing for an expansion of the pharmacy services we offer, driving growth and efficiency simultaneously.

 

Progressive Care is pushing forward with our aggressive expansion into more new technologies and higher-ROI investments in 2020. In addition, we are in the process of strengthening our leadership and Board of Directors over the near-term. We look forward to introducing our current and prospective shareholders to the new talent ready to join the Company and help escort Progressive Care onto a major US exchange.

 

Best Regards,

Shital Mars

CEO, Progressive Care

 

For more information about Progressive Care, please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc.

https://www.facebook.com/ProgressiveCareUS/

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PharmCo, LLC

https://www.facebook.com/pharmcorx/

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FiveStar RX

https://www.fivestarrx.com/

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AboutProgressive 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-pharmacyservices, 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 27 A 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 the intended terms of the offering, closing of the offering and use of any proceeds from the offering. 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.

Investor Relations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com

Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com

 

 

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