MIAMI – March 21,2019 –ProgressiveCare Inc. (OTCQB: RXMD),a personalized healthcare services and technology company, today announcedfurther growth year-over-year in revenue and number of prescriptions filled forFebruary 2019.
InFebruary,the company reported a total of $1.7 million in net revenue, a 17% increase from the same month last year, and a 36% increase in prescriptions filled during the same monthlast year, totaling nearly 26,719prescriptions filled. Despite industry headwinds through reimbursementcompression, network restriction, and formulary reduction, the Companycontinues its upward growth trend for revenues and prescriptions filled. TheCompany credits this growth to superior performance reviews and promotion of value-addedhealthcare service offerings.
“February was another bigmonth for us. Progressive Care exceeded February, 2018 prescription fillings and is moving forwardon major initiatives,” said S. Parikh Mars, CEO of Progressive Care. “We are currentlywrapping up the annual report and working through the acquisition process withlicensing and contracting agencies. We are on track to double our revenues postacquisition of FPRX and are confident that 2019 will lead to continued growth,more record-breaking months, and even bigger milestones as we continue ourmission to revolutionize the pharmacy industry.”
AboutProgressive Care Inc.
Progressive Care Inc. (OTCQB:RXMD), through its PharmCo, LLC, is a South Florida health servicesorganization and provider of prescription pharmaceuticals, compoundedmedications, provider of tele-pharmacy services, the sale of anti-retroviralmedications, medication therapy management (MTM), the supply of prescriptionmedications to long-term care facilities, and health practice risk management.
Cautionary Statement RegardingForward-Looking Statements
Statementscontained herein that are not based upon current or historical fact areforward-looking in nature and constitute forward-looking statements within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934. Such forward-looking statements reflect theCompany’s expectations about its future operating results, performance, andopportunities that involve substantial risks and uncertainties. Thesestatements include but are not limited to statements regarding the intendedterms of the offering, closing of the offering and use of any proceeds from theoffering. When used herein, the words “anticipate,” “believe,” “estimate,”“upcoming,” “plan,” “target,” “intend” and “expect” and similar expressions, asthey relate to Progressive Care Inc., its subsidiaries, or its management, areintended to identify such forward-looking statements. These forward-lookingstatements are based on information currently available to the Company and aresubject to a number of risks, uncertainties, and other factors that could causethe Company’s actual results, performance, prospects, and opportunities todiffer materially from those expressed in, or implied by, these forward-lookingstatements.
InvestorRelations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
PublicRelations Contact:
Kathleen Gonzales, CMW Media
Kathleen@cmwmedia.com
www.cmwmedia.com
Weband Application Development Contact:
Marcello Jaspan, Mass Ventures Corp
Marcello@massventurescorp.com
www.massventurescorp.com
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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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