Progressive Care Inc. (“Progressive”) was incorporated under the laws of the state of Delaware on October 31, 2006. Progressive, through its wholly-owned subsidiaries, PharmCo, LLC (referred to as “PharmCo 901”), Touchpoint RX, LLC doing business as PharmCo Rx 1002, LLC (referred to as “PharmCo 1002”), Family Physicians RX, Inc. doing business as PharmCoRx 1103 (referred to as “FPRX” historically or “PharmCo 1103” currently) (pharmacy subsidiaries collectively referred to as “PharmCo”), and ClearMetrX Inc (collectively with all entities referred to as the “Company”, or “we”) is a personalized healthcare services and technology company which provides prescription pharmaceuticals and risk and data management services to healthcare organizations and providers.
Over the past 13 years we have developed a unique model for pharmacy operation and data management. As a health services company, we specialize in analyzing health outcomes, costs and risks associated with administration of prescription pharmaceuticals. The industry has increasingly put the onus on primary care physicians to manage the health outcomes and patient healthcare spending, so our medication therapy management and patient prescription services can assist this process. Physicians recommend our services to their patients as means of ensuring medication adherence and compliance, which prevents costly acute care spending for chronic care conditions and enhances their performance as a practice.
The PharmCo subsidiaries are full-service retail specialty services pharmacies that offer same-day free delivery within Florida. The pharmacies accept most major insurance plans and have competitive out-of-pocket pricing for cash paying patients. The COVID-19 pandemic has created several hurdles for the pharmacy industry, but our history of patientcare management and same-day free home delivery resulted in more recommendations from physicians and new patients using our pharmacies.
Over the past year, we have been performing data management and other services for 340B Covered Entities dispensing medications under the federal 340B Drug Discount Pricing Program. Our unique expertise in prescription data management has attracted additional 340B Covered Entities as clients. We created ClearMetrX as a wholly owned subsidiary to perform third party administration and data management services.
We are focused on strategic growth through software development, SaaS based revenue streams, digital health technologies and expanded penetration of our PharmCo branded operations. We anticipate these efforts will be realized through our ongoing B2B healthcare marketing strategies, strategic partnerships, and acquisitions.
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Forward-looking Statements – This website contains forward-looking statements about our business. These forward-looking statements do not relate strictly to historical or current facts. Forward-looking statements involve risks and uncertainties and include statements regarding, among other things, our projected revenue growth and profitability, our growth strategies and opportunity, anticipated trends in our market and our anticipated needs for working capital. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “anticipate,” “estimate,” “plans,” “potential,” “projects,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend” or the negative of these words or other variations on these words or comparable terminology. You should not put undue reliance on these forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those reflected in such statements including: risks associated with current and potential future healthcare reforms; risks relating to technology failures or breaches; aspects of our business which are outside, risks relating to management and key personnel changes including attracting and retaining key personnel; failure to comply with legal and regulatory requirements; risks relating to access to capital and credit markets; risks related to indebtedness; exposure to claims and liabilities; changes in industry pricing benchmarks; and other risks and uncertainties that are described in the Risk Factors section of our recently filed Form 10-12G, including the presentation of financial statements and notes thereto, and other reports we have filed with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov or by calling our Investor Relations department at (888) 919-7411 ext. 221. Forward-looking statements speak only as of the date they are posted to this website, unless an earlier date is indicated, and we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP FinancialMeasures–This presentationincludes certain “non-GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of 1934. Schedules are attached that reconcile the non-GAAP financial measures included in this presentation to the most directly comparable financial measures calculatedand presentedin accordancewith Generally Accepted Accounting Principles in the United States. You should carefully read Progressive Care’s periodic and currentfilings on the OTCQB website for definitions and further explanation and disclosure regarding our use of non-GAAP financial measures and such filings should be read in conjunction with this presentation.
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