MIAMI, FL – April 27, 2022 – Progressive Care Inc. (OTCQB:RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is excited to announce its expansion into the rapidly growing multi-billion dollar Remote Patient Monitoring (“RPM”) space.
According to new research from MarketsandMarkets, the global RPM market is projected to reach $175.2 billion by 2027, growing at a robust 27% compound annual growth rate over the next 5 years.
The National Center for Biotechnology Information estimates that approximately 67% of Medicare beneficiaries have two or more chronic conditions accounting for 94% of Medicare spending. Chronic conditions have a significant impact on healthcare spending as well as hospital readmissions. Due to this burden, the Centers for Medicare and Medicaid Services (CMS) developed the RPM program to mitigate spending and provide clinicians with the digital data to implement more informed treatment plans for patients enrolled in the service. The Company’s experience in medication and therapy management and its active participation in data analytics would carry over directly into the RPM marketplace.
The implementation of patient-oriented technologies such as wearables and 5 G-powered home devices to track physiological data will enhance Progressive Care’s capabilities to provide doctors with usable insights into patients’ overall health. Additionally, it will benefit our existing physician base as well as provide a more complete suite of services for future accounts. CMS authorizes pharmacies to work in collaboration with providers, offering services as employees or contracted personnel and thereby enabling the Company to bill providers and healthcare organizations for RPM services.
Alan Jay Weisberg, CEO of Progressive Care stated, “The RPM space is set to be one of the most important growth areas within the healthcare industry over coming years and our most logical next step given our broad base of patients who have multiple chronic conditions. Progressive Care has differentiated itself from competitors in terms of commitment to medication therapy management. Our reputation among healthcare professionals in this domain is one of our strongest advantages.”
For more information about Progressive Care, please visit the company’s website. Connect and stay in touch with us on social media:
Progressive Care Inc.
https://www.progressivecareus.com
PharmCo, LLC
https://www.pharmcorx.com
ClearMetrX
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. 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:
Carlos Rangel
carlosr@pharmcorx.com
Investor Relations Contact:
ClearThink Capital
nyc@clearthink.capital
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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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