Progressive Care Inc. Issues Update on Acquisition Process

MIAMI, Jan. 16, 2019 (GLOBE NEWSWIRE) — Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today issued an update regarding the pharmacy acquisition in process.

The Company has completed due diligence and has executed a closing extension for the purpose of finalizing the terms of the purchase agreement, drafting necessary regulatory paperwork, and completing final inventory counts.

“The acquisition process has run very smoothly,” said S. Parikh Mars, CEO of Progressive Care. “We believe that acquisition will be conducted in stages similar to that of PharmCo 1002, starting in few weeks and completing in the second quarter of 2019. This structure ensures that we will meet all regulatory requirements of the relevant governing agencies. We are excited to continue in the process and make sure that the closing and transition are executed properly.”

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/
https://twitter.com/ProgressCareUS

PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx

About Progressive Care Inc.
Progressive Care Inc. (OTCQB: RXMD), through its PharmCo, LLC, is a South 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 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
[email protected]
www.progressivecareus.com
www.pharmcopharmacy.com

Public Relations Contact:
Kathleen Gonzales, CMW Media
[email protected]
www.cmwmedia.com

Web and Application Development Contact:
Marcello Jaspan, Mass Ventures Corp
[email protected]
www.massventurescorp.com

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