IRVINE, Calif., June 15, 2015 (GLOBE NEWSWIRE) -- Praxsyn Corporation's (OTCQB:PXYN) wholly owned subsidiary, Mesa Pharmacy Inc. (Mesa), announced today that on June 9, 2015, it executed a new Services Agreement with NHS Pharma Sales, Inc. (NHS). Through its relationship with NHS, Mesa's revenue has grown significantly over the past six months. NHS is building on its mutually beneficial relationship and taking on a more active role in its affiliation with Mesa. Based on positive past performance, NHS is committed to maintaining sales growth and striving to exceed its growth objectives.
"This step with NHS is an affirmation of our mutual, long-term goals," said Edward Kurtz, CEO, Praxsyn Corporation. "NHS has their roots firmly planted within this complex industry and extending our valuable partnership with them is expected to result in increased sales, leading to an increase in shareholder value."
Within the terms of the new Services Agreement, NHS will continue performing Mesa's billing services, as well as its insurance contract reviews and negotiations, due diligence for mergers and acquisitions, and provide advice and assistance with desk and on-sight insurance audits. NHS will also continue the marketing and promotion of Mesa's products and services along with other marketing opportunities.
The Agreement is in line with the previous compensation earned by the company and will now be flat fee based, which is rapidly becoming the industry standard. Additionally, the Script Processing Services Contract, dated December 4, 2014 and the Marketing Company Agreement, dated January 26, 2015, entered into by Mesa and NHS are now null and void and of no further effect.
About Praxsyn Corporation
Headquartered in Irvine, California, Praxsyn works to realize the vision of medical professionals to improve the lives of patients. Mesa Pharmacy, a wholly owned subsidiary, provides doctors with an alternative to oral pain medications. Mesa focuses on providing custom compounded non-narcotic, transdermal topical pain medications that are marketed to industrial health physicians and medical clinics. Mesa has developed a series of topical creams, in different strengths, that provide the pain relief doctors seek for their patients. Additional company information can be found at www.praxsyn.com.
Forward-Looking Statements
Certain statements made in this press release are forward-looking in nature (within the meaning of the Private Securities Litigation Reform Act of 1995) including but not limited to statements regarding the past performance and anticipated results of the Services Agreement with NHS Pharma Sales, Inc., and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated and consequently, you should not rely on these forward-looking statements as predictions of future events. Certain of these risks and uncertainties are discussed in the reports we filed with the SEC.