MIAMI, FL – May 14, 2020 – Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is very pleased to announce that the Company has obtained the immediate capacity to market and distribute rapid-results antibody test kits (COVID-19 IgG/IgM) registered through the FDA under its Emergency Use Authorization (“EUA”) guidelines for conducting SARS-CoV-2 antibody presence and COVID-19 infection diagnosis testing.
The COVID-19 Rapid Antibody Test Kits will be made available through our pharmacies and national e-commerce platform to healthcare providers for further administration to their patients. The antibody test kits are designed for use by a medical professional through the collection of a small fingertip blood sample, with results available within 15 minutes. A positive result indicates the need for an additional serological test to confirm.
“As major operations begin to reopen in our communities, experts believe diagnostic and antibody testing will be crucial in identifying vulnerabilities and creating safer and more productive public living conditions,” comments S. Parikh Mars, CEO of Progressive Care. “We believe it is imperative that we provide the public health resources necessary to stem the tide of this pandemic.”
Phase One economic reopening is currently underway in Florida, where Progressive Care is based. As businesses reopen, rapid results testing is widely considered to be an essential resource. Organizations and their employees consistently express a strong desire to know if they have been exposed to SARS-CoV-2 and therefore acquired antibodies for, and potential immunity to, the virus that causes the COVID-19 disease. Antibody testing is not designed as a diagnostic tool, but can be valuable in determining the prevalence of exposure and/or recovery within a community. Such information can help public health officials, community leaders, employers and citizens make decisions about potential risk factors, containment, and mitigation strategies.
The Company is preparing to conduct a COVID-19 antibody case study in South Florida to help guide health preservation protocols and public discourse about the pandemic.
“We are truly grateful for this opportunity to help our community control the spread and flatten the curve as we shed further light on this virus and its confoundingly broad physiological effects and societal implications,” continued Mars. “We are excited to develop new and growing relationships with organizations and healthcare providers in our marketplace interested in partnering with us to deliver this powerful new solution.”
For more information about Progressive Care, please visit the company’s website.
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About Progressive Care Inc.
Progressive Care Inc. (OTCQB:RXMD), through its subsidiaries, is a Florida technology and health services organization that provides 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 Statements
Statements 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.
Investor Relations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com
Copyright 2022 © Progressive care inc.
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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