Progressive Care Announces Departure of CEO and Appoints new interim CEO

MIAMI, FL, Aug. 14, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, today announced that Shital Parikh Mars, Chief Executive Officer (“CEO”) and member of the Board of Directors (the “Board”), notified the Board of Directors of her resignation from such positions on August 10, 2020, to pursue other opportunities. The Board accepted the resignation on August 13, 2020.

Alan Jay Weisberg, Chairman of the Board, commented, “We extend our gratitude to Shital for her leadership of the Company during these challenging times. Shital has played a critical role in the Company’s overall performance and recent development of its healthcare technology services. We wish Shital all the best in her future endeavors.”



The Company also announced today that the Board has appointed Mr. Weisberg as interim Chief Executive Officer while the Board engages in a search process to appoint a new Chief Executive Officer. Mr. Weisberg has been associated with the Company since 2010 and has previously served as its Chief Executive Officer. He is currently the Company’s Chief Financial Officer as well as Chairman of the Board. Mr. Weisberg stated, “I am honored and excited to serve as interim Chief Executive Officer and that I am confident that the Company, with the efforts of its current management team, will continue its current growth and efforts to successfully carry out its business plan.”



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

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About Progressive Care Inc.

Progressive Care Inc. (OTCQB: RXMD), through its subsidiaries a personalized healthcare services and technology company which provides prescription pharmaceutical services, risk management and data analytics to healthcare organizations and providers.

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 departure of the company’s CEO. 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









Public Relations Contact:

Carlos Rangel