IRVINE, Calif., Jan. 13, 2015 -- Praxsyn Corporation (OTCQB:PXYN(link is external)) today announced that it has completed the expansion of its corporate offices in Irvine. The new office space allows the company to accommodate the rapid growth experienced over the past year and will allow for future expansion plans as the company continues to make progress toward its goal of dispensing customized medications nationwide.
"This expansion is testament to the growth and success our company has achieved in the past year, and marks the beginning of a new chapter for Praxsyn Corporation," said Edward Kurtz, Chief Executive Officer, Praxsyn Corporation. "We look forward to furthering our goal of being the leader of transdermal medications nationwide."
The corporate office expansion brings Praxsyn's facilities to just over 7,000 square feet. The extension provides capacity to boost production, grow the collections management department, and continue to cultivate leadership functions needed to support increased market growth. With the expansion, the pharmacy space has doubled, which should allow for an increase in the amount of customized medications produced, including innovative formulas to provide pain relief to new and existing patients. Additional collections personnel negotiating more settlements of in-house cases should allow the collections department to retain a higher percentage of its account receivables, which in turn creates a more lucrative billing system.
"Praxsyn is now better positioned to leverage opportunities to expand our formulary in the non-sterile compounding field," said Andrew Do, Pharmacist in Charge, Mesa Pharmacy. "We're definitely on our way to achieving a broader formulary of customized medications to help patients."
The new corporate office is located at 18013 Sky Park Circle, Suite A, Irvine, California, adjacent to its subsidiary companies: NexGen Med Solutions and Mesa Pharmacy.
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.
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 the statement regarding the anticipated results of expansion of the corporate offices, 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.
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