Progressive Care (OTCQB: RXMD) offers services and technology that supports the managed health care industry to reduce costs and improve the quality of care. “The company has been steadily building both its pharmacy and data-management divisions as revenues continue to improve. However, a couple of extremely revealing events recently transpired that may have set the course for considerable upside potential. “The first inkling of something big cooking was revealed in a September press release, which announced that Progressive Care had successfully completed a recapitalization of its debt as well as a strategic investment of $6 million from NextPlat Corp (NASDAQ: NXPL). Not only did NextPlat invest in RXMD, but its CEO Charles M. Fernandez, along with other investors, also purchased approximately $2.8 million of outstanding convertible debt in the company. The press release also stated that Fernandez was named chairman of the board of Progressive Care. Why would a technology-driven, global, e-commerce platform company and its CEO invest in a health care company such as Progressive Care? The answer might be found in NextPlat’s mission statement, which indicates that the company was ‘created to capitalize on multiple high-growth sectors.’ It certainly appears that Progressive Care has been identified as a high-growth opportunity….”
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About Progressive Care:
Progressive Care, through its subsidiaries, is a Florida health services organization. The company provides third-party administration (“TPA”), data management, COVID-19 related diagnostics and vaccinations, 340B contracted pharmacy services, prescription pharmaceuticals, compounded medications, 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. For more information about Progressive Care, visit www.ProgressiveCareUS.com.
NOTE TO INVESTORS: The latest news and updates relating to RXMD are available in the company’s newsroom at https://ibn.fm/RXMD
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