NextPlat's PharmcoRx Forges Virtual Care Partnership to Expand Specialized Rx Fulfillment

NEW YORK, NY – November 05, 2025

The Rise of Virtual Pharmacy Services

NextPlat Corp (NASDAQ: NXPL, NXPLW) is strategically expanding its healthcare services through its subsidiary, PharmcoRx, by entering a multi-state prescription fulfillment agreement with virtual healthcare provider DevotedDOc. The partnership, initially launching in Florida and Georgia, focuses on fulfilling prescriptions for medications related to opioid use disorder, weight loss (including alternatives to popular drugs like Wegovy, Ozempic, Zepbound and Mounjaro), and hormone replacement therapy. This collaboration signifies a growing trend of virtual healthcare companies partnering with specialized pharmacy services to improve accessibility and convenience for patients.

“The demand for virtual care continues to surge, creating a need for flexible and reliable pharmacy solutions,” said one industry analyst familiar with the deal. “Traditional pharmacy models weren’t designed to handle large-scale virtual demand, especially across state lines, and this partnership addresses that gap.”

The agreement comes at a time when telehealth is rapidly evolving, driven by patient demand for convenient access to care. It also highlights the increasing complexity of medication fulfillment, with many patients requiring specialized medications or compounded formulations that require a higher level of expertise.

NextPlat's Strategic Shift and Financial Considerations

For NextPlat, the partnership represents a strategic move to diversify its healthcare offerings and capitalize on the growing demand for specialized prescription fulfillment. While the company's recent financial performance has been mixed – reporting a decline in total revenue for the first three quarters of 2025 – this partnership is seen as a potential catalyst for growth. The company reported approximately $13.8 million in revenue for Q3 2025, an 11% decrease year-over-year, with healthcare operations contributing $10.1 million.

However, NextPlat’s recent earnings have been impacted by a significant decline in revenue from its 340B contract pharmacy program, falling from $2.5 million to $600,000 year-over-year. This agreement with DevotedDOc is viewed as a way to offset those losses and establish a new revenue stream. The company is aiming to achieve breakeven operating results in its healthcare segment by 2026, and this partnership is a key component of that strategy.

“This isn’t just about filling prescriptions,” explained another source close to NextPlat. “It’s about building a platform for specialized pharmacy services that can scale nationally and address the evolving needs of virtual healthcare providers.”

Navigating a Competitive Landscape

The market for specialized pharmacy fulfillment is becoming increasingly competitive, with several players vying to serve the growing telehealth industry. Companies like Precision Medicine, Qualiphy, and WellSync are all offering similar services, focusing on areas like compounding, nationwide reach, and technology integration.

PharmcoRx will need to differentiate itself by offering a unique value proposition, such as specialized expertise in a particular therapeutic area, superior customer service, or competitive pricing. The company’s existing infrastructure and its ability to handle complex formulations are seen as key advantages.

“The key to success in this market is to build strong relationships with virtual healthcare providers and become a trusted partner,” said a market research analyst. “PharmcoRx has the potential to do that, but it will need to invest in technology and customer service to stay ahead of the competition.” The growing popularity of compounded GLP-1s for weight management presents both an opportunity and a challenge for PharmcoRx; ensuring precise formulation and adherence to regulatory standards will be critical.

The partnership also highlights the rising demand for accessible treatment options for opioid use disorder. Providing medication-assisted treatment (MAT) through a virtual platform can help overcome barriers to care for patients in rural areas or those facing social stigma.