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Praxsyn Announces Management Changes and Company Updates

Praxsyn

  • Appoints Interim CEO and CFO
  • Update on Timing of Form 10-Q Filing
  • Updated Company Address

IRVINE, Calif., June 4, 2014 (GLOBE NEWSWIRE) -- Praxsyn Corporation (OTCQB:PAWS), a medication and service provider for medical practitioners, announced that Edward F. Kurtz, 51, has been elected to serve as the Company's Chief Operating Officer, which was effective on May 3, 2014. He was also appointed as Interim CEO, President and Chairman of the Board. Kurtz has more than 25 years of leadership experience in business development and operations, most recently in the strategic planning and growth of Mesa Pharmacy, a custom compounding pharmacy specializing in pain relief.

Dan O'Brien, 52, was appointed as Interim Treasurer and CFO, effective May 28, 2014. His most recent consulting experience focused on IPO and acquisition transactions for private companies. O'Brien previously held positions in accounting and finance with Freddie Mac, Marriott International and St. Jude Medical. Kimberly Brooks, 38, was appointed as Interim Corporate Secretary, also effective on May 28, 2014.

"These appointments have filled vital positions that will help facilitate responsible growth of the company with professionalism and integrity," said Kurtz. "We're excited to use our combined expertise and experience to fuel our next level of growth to bring alternative pain solutions direct to medical professionals and their patients."

As previously disclosed, the Company has not yet completed its financial statements for the quarter ended March 31, 2014 due to the increased workload from the complex accounting related to its recent reverse merger. "Although, the 10-Q continues to be delayed, we are working diligently to complete this process and are engaging additional accounting personnel to finalize the required documents in order to regain compliance," O'Brien stated.

Praxsyn is headquartered in Southern California at 18011 Sky Park Circle, Suite N, Irvine, CA 92614, and can be contacted directly at (949) 777-6112.

About Praxsyn

At Praxsyn, we work to realize the vision of medical professionals to improve the lives of patients. Mesa Pharmacy, our 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. 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) 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.

CONTACT: Media/Investor Contact: IR@PraXsyn.com 949-777-6112 ext 101

Source:Praxsyn Corporation