NextPlat Corp, along with its subsidiaries, specializes in providing advanced mobile satellite services (MSS). These offerings encompass satellite-enabled voice and data communication, comprehensive personnel and asset tracking, machine-to-machine (M2M) solutions, and Internet of Things (IoT) connectivity, serving clients across the United States and internationally. Their product portfolio features satellite communication devices that empower users to make voice calls, exchange text messages and emails, and transmit GPS coordinates from virtually any location. Additionally, NextPlat offers GPS-enabled emergency locator distress beacons, facilitating vital communication between individuals and search and rescue organizations during emergencies, while pinpointing precise locational information. Another innovative product is SolarTrack, a solar-powered IoT tracking device designed for monitoring mobile or remote outdoor assets. The company also provides GTCTrack, a subscription-based mapping and tracking portal that allows managers to efficiently monitor, command, and control their assets in near real-time. NextPlat's solutions cater to a diverse clientele, including businesses, governmental bodies, military organizations, humanitarian groups, and individual users. Distribution channels include direct sales to end-users, established reseller networks, company-operated e-commerce websites offering a broad spectrum of MSS products, and various third-party e-commerce storefronts for portable satellite voice, data, and tracking solutions. Formerly known as Orbsat Corp, the company adopted its current name, NextPlat Corp, in January 2022. Its corporate headquarters are situated in Coconut Grove, Florida.
NextPlat Completes Pensacola-Area Acquisition of Profitable Pharmacy, Accelerating Continued Healthcare Growth and Profitability
NextPlat completed its acquisition of an independent pharmacy near Pensacola, Florida for total cash consideration of $1,485,439 including inventory.
The pharmacy generated approximately $5.6 million in sales in 2025, was profitable, and operated debt-free with positive working capital, and will fold into the PharmcoRx segment.
CEO David Phipps says the company will layer higher-margin 340B, long-term care, and senior living contracted services into the region and is exploring further acquisitions of profitable community pharmacy operators.