SOURCE: Progressive Care Inc

Progressive Care Inc

September 15, 2016 08:22 ET

Progressive Care: PharmCo Granted Pharmacy License From Illinois

MIAMI, FL--(Marketwired - September 15, 2016) - Progressive Care Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities, announces a new pharmacy license from Illinois.

On September 14, 2016, the state of Illinois issued a non-resident pharmacy license to PharmCo, LLC. This license allows the Company to dispense and ship traditional and compounded medications to residents of the state from the pharmacy in North Miami Beach. The Company currently is licensed to conduct business in eight other states: Connecticut, Georgia, Massachusetts, New Jersey, New York, Pennsylvania, Texas, and Florida.

"We have been diligently pursuing new state licenses. Illinois brings the total to nine states where PharmCo can dispense prescriptions," stated S. Parikh Mars, CEO. "We are excited by the pace of our expansion and we will waste no time in developing these new markets."

Common Shares Issued and Outstanding:

As of September 15, 2016 the number of shares of common stock issued and outstanding stood at 341,107,607 shares. This amount is net of the number of shares owned by PharmCo, LLC of 1,718,000.

About Progressive Care

Progressive Care, Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities.

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.