NextPlat Accelerates Healthcare Growth with New Leadership and Expanded Sales, Marketing, and Technology Investments
NextPlat (NASDAQ: NXPL) announced a strategic expansion of its healthcare operations following its acquisition of Progressive Care. The company appointed Birute Norkute as Vice President of Healthcare Operations, leveraging her decade-long experience at Progressive Care, and Alexis Fernandez as Director of Pharmacy, bringing 20 years of clinical and administrative expertise.
The expansion includes investments in sales and marketing professionals focused on 340B and Long-Term Care (LTC) contracts, along with technology upgrades aimed at improving process efficiencies and patient care. These initiatives are designed to strengthen PharmcoRx's position in the healthcare market and enhance profitability through entry into higher-margin healthcare segments.
NextPlat (NASDAQ: NXPL) ha annunciato un'espansione strategica delle sue attività nel settore sanitario a seguito dell'acquisizione di Progressive Care. La società ha nominato Birute Norkute Vicepresidente delle Operazioni Sanitarie, valorizzando la sua esperienza decennale in Progressive Care, e Alexis Fernandez Direttore della Farmacia, con 20 anni di competenze cliniche e amministrative.
L'ampliamento prevede investimenti in professionisti delle vendite e del marketing concentrati sui contratti 340B e Long-Term Care (LTC), oltre a potenziamenti tecnologici volti a migliorare l'efficienza dei processi e l'assistenza ai pazienti. Queste iniziative mirano a rafforzare la posizione di PharmcoRx nel mercato sanitario e ad aumentare la redditività entrando in segmenti a margine più elevato.
NextPlat (NASDAQ: NXPL) anunció una expansión estratégica de sus operaciones sanitarias tras la adquisición de Progressive Care. La compañía nombró a Birute Norkute vicepresidenta de Operaciones Sanitarias, aprovechando su década de experiencia en Progressive Care, y a Alexis Fernandez director de Farmacia, con 20 años de experiencia clínica y administrativa.
La expansión incluye inversiones en profesionales de ventas y marketing enfocados en contratos 340B y de cuidados a largo plazo (LTC), además de mejoras tecnológicas destinadas a optimizar la eficiencia de los procesos y la atención al paciente. Estas iniciativas están diseñadas para fortalecer la posición de PharmcoRx en el mercado sanitario y aumentar la rentabilidad al entrar en segmentos de mayor margen.
NextPlat (NASDAQ: NXPL)은 Progressive Care 인수에 따라 의료 사업의 전략적 확장을 발표했습니다. 회사는 Progressive Care에서의 10년 경력을 활용해 Birute Norkute를 의료운영 부사장(Vice President of Healthcare Operations)으로, 임상 및 행정 분야에서 20년 경력을 가진 Alexis Fernandez를 약국 책임자(Director of Pharmacy)로 임명했습니다.
이번 확장에는 340B 및 장기요양(LTC) 계약에 집중하는 영업 및 마케팅 전문 인력에 대한 투자과 프로세스 효율성과 환자 돌봄을 개선하기 위한 기술 업그레이드가 포함됩니다. 이러한 조치는 PharmcoRx의 의료 시장 내 입지를 강화하고 수익성이 높은 의료 분야로 진입해 수익성을 향상시키려는 목적입니다.
NextPlat (NASDAQ: NXPL) a annoncé une expansion stratégique de ses activités de santé suite à l'acquisition de Progressive Care. La société a nommé Birute Norkute Vice-présidente des Opérations de Santé, tirant parti de sa décennie d'expérience chez Progressive Care, et Alexis Fernandez Directeur de la Pharmacie, apportant 20 ans d'expertise clinique et administrative.
L'expansion comprend des investissements dans des équipes commerciales et marketing axées sur les contrats 340B et les soins de longue durée (LTC), ainsi que des améliorations technologiques visant à optimiser l'efficacité des processus et la prise en charge des patients. Ces initiatives visent à renforcer la position de PharmcoRx sur le marché de la santé et à améliorer la rentabilité en entrant sur des segments à marge plus élevée.
NextPlat (NASDAQ: NXPL) hat nach der Übernahme von Progressive Care eine strategische Erweiterung seiner Gesundheitsaktivitäten angekündigt. Das Unternehmen ernannte Birute Norkute zur Vice President of Healthcare Operations und nutzt damit ihre zehnjährige Erfahrung bei Progressive Care, sowie Alexis Fernandez zum Director of Pharmacy, der 20 Jahre klinische und administrative Erfahrung mitbringt.
Die Expansion umfasst Investitionen in Vertriebs- und Marketingfachkräfte, die sich auf 340B- und Long-Term-Care-(LTC-)Verträge konzentrieren, sowie technologische Aufrüstungen zur Verbesserung der Prozesseffizienz und der Patientenversorgung. Diese Maßnahmen zielen darauf ab, die Position von PharmcoRx im Gesundheitsmarkt zu stärken und die Profitabilität durch das Eindringen in höher margige Segmente zu steigern.
- Strategic appointment of experienced healthcare leaders with proven track records
- Expansion into higher-margin healthcare segments (340B and Long-Term Care)
- Investment in technology upgrades for improved operational efficiency
- Focus on growing sales and marketing capabilities for new contract acquisition
- Significant investments required in technology and personnel
- Operating under interim CEO leadership
- Integration challenges following Progressive Care acquisition
Insights
NextPlat's strategic healthcare expansion with experienced leadership and investments targets high-margin segments to boost profitability and shareholder value.
NextPlat is executing a focused healthcare expansion strategy centered on strengthening its pharmacy operations through key leadership appointments and targeted investments. The company has brought in Birute Norkute as VP of Healthcare Operations, leveraging her decade-plus experience building Progressive Care (which NextPlat acquired last year) into one of Florida's largest independent pharmacy providers. Additionally, Alexis Fernandez joins as Director of Pharmacy, bringing 20+ years of clinical and administrative experience from Cano Health.
The strategic importance of these appointments becomes clear when examining NextPlat's broader objectives. The company is specifically targeting growth in 340B programs (federal drug pricing program for eligible healthcare organizations) and Long-Term Care (LTC) services – both higher-margin healthcare segments that could significantly improve profitability metrics. To support this expansion, NextPlat is investing in dedicated sales and marketing personnel focused on securing contracts in these specific segments.
Beyond personnel investments, the company has initiated technology upgrades aimed at improving operational efficiency and enhancing patient care quality. This dual-focused approach – combining experienced leadership with targeted technology investments – suggests NextPlat is implementing a comprehensive strategy to transform its PharmcoRx division into a more profitable healthcare services provider.
The emphasis on entering higher-margin segments while simultaneously improving operational efficiency indicates a well-structured approach to healthcare expansion that could materially improve NextPlat's financial performance if successfully executed.
Veteran Healthcare Leadership to Drive Business Process Improvement, Enhanced Customer Service and Support the Introduction of New Services for 340B and Long-term Care Providers
"PharmcoRx is well-positioned to capitalize on the expanding healthcare market, with significant opportunities to strengthen its brand and build long-term value. Through focused investments in talented leadership and entry into higher-margin healthcare segments, we believe we can enhance profitability, sustain long-term performance, and deliver increased shareholder value. We are pleased to welcome our new healthcare leadership to our team as we seek to support PharmcoRx's growth as it executes on its mission to serve the needs of patients throughout our communities, delivering superior value to patients and providers," said David Phipps, Interim CEO, President and CEO of Global Operations at NextPlat Corp.
Highlights of NextPlat's healthcare expansion include:
- The Company has named Birute Norkute as Vice President of Healthcare Operations. Ms. Norkute, who played a pivotal role in building and leading the operations of Progressive Care Inc. for more than a decade, will oversee NextPlat's healthcare and pharmacy businesses, which the Company acquired through its acquisition of Progressive Care last year. Ms. Norkute joined PharmCoRx, the pharmacy division of Progressive Care in 2008 and rose to become Chief Operating Officer where she was instrumental in driving its growth into one of the largest independent pharmacy services providers in
Florida . She successfully led business development, compliance, operations, and quality initiatives that enabled the company to consistently achieve 5-star performance ratings and built one of the most respected reputations in the industry. Under her leadership, Progressive Care became a trusted partner to physicians, managed care organizations, and 340B covered entities, servicing patients throughoutFlorida and beyond. - Mr. Alexis Fernandez has been appointed as Director of Pharmacy. Mr. Fernandez has over 20 years of clinical and administrative pharmacy experience. He most recently served as Pharmacy Manager at Cano Health, which specializes in primary care for seniors and operates medical centers, pharmacies and other programs including at-home services throughout
South Florida . Mr. Fernandez's expertise includes experience in clinical, retail, and managed care environments and has a proven track record in driving pharmacy operations, enhancing quality of care and services metrics, improving patient satisfaction, and implementing forward-thinking initiatives that empower staff and streamline workflows. - NextPlat is making investments into PharmcoRx which are designed to support increased growth and profitability including dedicated sales and marketing professionals focused on securing 340B and Long-Term Care (LTC) contracts, some of which we have already hired with others planned for later in the year. It has also recently begun a technology upgrade cycle focused on software and systems with the goal of improving internal process efficiencies and importantly, improved patient care and customer service responsiveness.
For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook, LinkedIn and X.
About NextPlat Corp
Nextplat is a global consumer products and services company providing healthcare and technology solutions through e-Commerce and retail channels worldwide. Through acquisitions, joint ventures and collaborations, the Company seeks to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce capabilities for consumer and healthcare products and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
Media and Investor Contact for NextPlat Corp:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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