$RXMD Along with CallingDr™, MyApps also has a p
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Posted On: 09/18/2020 6:35:20 AM
$RXMD Along with CallingDr™, MyApps also has a portal named FindingDr™, which helps providers connect with new patients. Following the closing of the acquisition, Progressive Care will be able to offer healthcare providers across the country and in its network of business with access to this portal to connect them with new patients.
Weisberg added, “GoodRX, which is comparable to a stock in the pharmacy services space, recently filed for an IPO with a pre-IPO valuation of $2.8 billion on under $390 million in 2019 sales, trading at nearly 7 times trailing sales. The 2019 acquisition of ‘HeyDoctor’ appears to be an important part of its growth plan and future valuation. Pairing pharmacy services with a powerful telehealth platform unlocked the prospect of fresh growth potential relative to the space, especially as federal and state regulations on telemedicine were stripped from the equation after the onset of the COVID-19 pandemic health crisis in March. We believe CallingDr is a superior telemedicine platform. We also believe we have an even more potent mix of assets that present a similar formula for powering shareholder value over the coming decade. Yet, Progressive Care shares trade under 0.5 times 2019 sales. I believe that our valuation has been greatly impacted by recent trading volume, which is not a result of insider selling. With enormous year-over-year growth, a coming $200 billion expansion in total addressable market, and the acquisition and integration of an active cutting-edge telehealth platform with a national customer footprint already established, and with the goal of uplisting to a major exchange, Progressive Care continues to aggressively strive toward leadership as an innovative technology and personalized healthcare company.”
https://www.benzinga.com/pressreleases/20/09/...ate-update
Weisberg added, “GoodRX, which is comparable to a stock in the pharmacy services space, recently filed for an IPO with a pre-IPO valuation of $2.8 billion on under $390 million in 2019 sales, trading at nearly 7 times trailing sales. The 2019 acquisition of ‘HeyDoctor’ appears to be an important part of its growth plan and future valuation. Pairing pharmacy services with a powerful telehealth platform unlocked the prospect of fresh growth potential relative to the space, especially as federal and state regulations on telemedicine were stripped from the equation after the onset of the COVID-19 pandemic health crisis in March. We believe CallingDr is a superior telemedicine platform. We also believe we have an even more potent mix of assets that present a similar formula for powering shareholder value over the coming decade. Yet, Progressive Care shares trade under 0.5 times 2019 sales. I believe that our valuation has been greatly impacted by recent trading volume, which is not a result of insider selling. With enormous year-over-year growth, a coming $200 billion expansion in total addressable market, and the acquisition and integration of an active cutting-edge telehealth platform with a national customer footprint already established, and with the goal of uplisting to a major exchange, Progressive Care continues to aggressively strive toward leadership as an innovative technology and personalized healthcare company.”
https://www.benzinga.com/pressreleases/20/09/...ate-update
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