MIAMI – June 14, 2018 – Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in both revenue and number of prescriptions filled for May 2018.Progressive Care’s wholly owned subsidiary PharmCo, LLC has seen an 18.75% increase in prescriptions filled over the same month last year, totaling approximately 22,300 prescriptions.May brought a total net revenue of roughly $1.78 million: a slight decrease of 4.6% from May 2017, due to decreased reimbursement rates on compounds and the transition of more patients to the company’s 340B model that decreases sales but maintains profitability due to dispensing fees. However, looking at the total revenue combined for April and May, Progressive Care shows an increase of 2.4% compared to last year.“As we come out of another month of substantial growth we continue to dedicate ourselves to providing our patients a full range of personalized medication therapies,” said S. Parikh Mars, CEO of Progressive Care Inc. “As reimbursement compression across the medication spectrum remains, Progressive Care has devoted itself to increasing revenues with continued sales efforts, medication diversification, and further expansion of our service offerings.”As Progressive Care continues significant growth month-over-month, more patients and providers are able to experience its proactive patient engagement model designed to lower healthcare costs and provide quality service to everyone. The company also dispensed $550,000 worth of 340B services (which is not included in sales figures) and generated nearly $25,000 in fees, a 245% increase over May of last year.The May sales figures come on the heels of some significant company announcements including the launch of a nationwide opioid marketing campaign, the purchase and installation of a new TCGRx pouch packaging system and the initial steps in developing a proprietary tele-pharmacy software.Connect and stay in touch with us on social media:Progressive Care Inc.https://www.facebook.com/ProgressiveCareUS/https://twitter.com/ProgressCareUSPharmCo, LLChttps://www.facebook.com/pharmcorx/https://twitter.com/PharmCoRxAbout Progressive Care, Inc. Progressive Care Inc. (OTCQB:RXMD), through its PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, and health practice risk management.Cautionary Statement Regarding Forward Looking StatementsStatements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target,” “intend” and “expect” and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.Public Relations Contact: Tory Patterson, CMW MediaPublic Relations ConsultantTory@cmwmedia.comwww.cmwmedia.comInvestor Relations Contact: Armen Karapetyan, Progressive CareSenior Advisor Business DevelopmentArmen@progressivecareus.comwww.progressivecareus.comwww.pharmcopharmacy.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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