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PROXYMED UNDERWRITER EXERCISES STOCK PURCHASE OPTION

 PEMBROKE PINES, Fla., Sept. 15 /PRNewswire/ -- ProxyMed Pharmacy Inc. (NASDAQ: PILL) announced today that Paragon Capital Corporation, the underwriter for the company's initial public offering, has exercised its over-allotment option to purchase an additional 120,000 shares of the company's common stock at $6.00 per share.
 ProxyMed Pharmacy is a pharmacy management company that dispenses prescription drugs to HMO members through "filling stations" located in Florida, and assists HMO providers with a "drug utilization review" program that identifies patterns in inappropriate prescription use by targeting and recommending more cost effective drugs thus lowering providers' monthly pharmacy expenditures. ProxyMed's DUR services are enhanced through a unique on-line, proactive computer program which allows providers to network with ProxyMed's DUR center.
 -0- 9/15/93
 /CONTACT: Harold Blue, president of ProxyMed Pharmacy, 305-438-7550/
 (PILL)


CO: ProxyMed Pharmacy Inc. ST: Florida IN: MTC SU:

AW -- FL001 -- 2148 09/15/93 10:31 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
Words:150
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