PALO ALTO, CA, Nov. 26, 2013 /CNW/ - The PAWS Pet Company, Inc. (OTCQB:PAWS), is pleased to announce that it intends to begin implementation of its In-Office Dispensing Program (IODP) during the first half of December 2013 through our Advanced Access Pharmacy Services, LLC (AAPS) subsidiary. Our director, Evon Midei, will head this program up. Evon has forty years of experience in the medical industry including managing pharmacies and hospitals, having served as the COO and acting CEO of St. Luke's Hospital (formerly Allentown Osteopathic Medical Center) in Allentown, Pennsylvania. Evon holds a BS in Pharmacy and an MBA from Temple University.
Our IODP program has been designed to provide physicians the ability to prescribe and dispense medicines in-office, allowing patients to obtain diagnoses and prescriptions in one visit.
AAPS expects positive cash flow within the second quarter of 2014 with high margins. AAPS estimates that the potential revenues from this program could exceed $50 Million per year with a clear path to much higher revenues in the very near future.
In further news, the company is preparing the necessary documentation to change its name to Praxsyn Corporation and hopes to have all necessary documents filed with the all state, federal and nongovernmental agencies within the next ten to twenty days.
Work continues to finalize our agreement to acquire Mesa Pharmacy Inc. and our application for a California Community Pharmacy License is mostly complete, primarily waiting on the completion of our name change.
About The PAWS Pet Company, Inc.
The PAWS Pet Company, Inc. is undergoing a transition from the pet space to the pharmaceutical space. This exciting transition strategy has been developed to take advantage of the changes underway in traditional medical services. PAWS believes that great opportunities exist in pharmaceuticals and how they are delivered to the public.
For more information on The PAWS Pet Company go to: www.thepawspetcompany.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) 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.
SOURCE: The PAWS Pet Company, Inc.
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