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| RXMD Completes Acquisition Expands Reach and Adds New Revenue Stream |
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 Hot Stock to Watch |
Company: Progressive Care Inc. (OTCQB: RXMD)
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Last:
Price: 0.0689
Change (%): + 0.0139 (25.36)
Volume: 942,720 |
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Progressive Care Completes Acquisition of Touchpoint Pharmacy Expanding Company Footprint and Market Opportunity
MIAMI, July 02, 2018 (GLOBE NEWSWIRE) - Progressive Care Inc. (OTCQB:RXMD), a personalized healthcare services and technology company, today announced that it has completed the acquisition of a Touchpoint pharmacy in Palm Beach County. This second location will facilitate the company’s growth by expanding the delivery radius of Progressive Care’s pharmacy operations to now include Miami-Dade, Broward, Palm Beach and Martin County. It will also decrease costs of expansion of products and services and increase prescription dispensing efficiency.
The new 3,000-square-foot pharmacy facility is located close to major highways and has adequate space to provide the opportunity to develop new processes for long-term care services, compounded medications, medication therapy management, and tele-pharmacy services. The location also allows for the accelerated ramp-up of sales in the county through the addition of 340B services to non-profit healthcare facilities, additional capacity to service long-term care institutions, and referrals from area physicians and clinics in need of patient support and medication management.
“This second location is a major milestone in the growth of Progressive Care and will allow us to effectively bring the PharmCo pharmacy model to a new market,” said S. Parikh Mars, CEO of Progressive Care. “Through this acquisition, we will be the first to bring the full suite of adherence programs, packaging options, and range of inventory to Palm Beach County to be delivered on a local basis.”
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