MIAMI, Nov. 16, 2018 (GLOBE NEWSWIRE) — Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and record-breaking number of prescriptions filled for October 2018.
In October, the company reported a total of $1.9 million in net revenue, a 10% increase from the same month last year, and a 30% increase in prescriptions filled during the same month last year, totaling more than 31,000 prescriptions filled.
Progressive Care’s wholly owned subsidiary PharmCo, LLC reported a 30% increase in prescriptions filled over the same month last year, totaling more than 28,300 prescriptions. The company’s newest PharmCo facility, Touchpoint Rx (dba PharmCo Rx 1002), reported 2700 prescriptions filled during the month of October and nearly $100,000 in revenue.
“We are delighted to announce a record-breaking increase in prescriptions filled in October, which defies the trend many other pharmacies are seeing right now,” said S. Parikh Mars, CEO of Progressive Care. “October also saw the noteworthy beta launch of our proprietary tele-pharmacy platform, Tele-PharmCo, which we trust will revolutionize the way pharmacies connect with patients, and we couldn’t be more thrilled to begin rolling the platform out in hospital kiosks and clinics during the coming months. We are committed to making patient experiences as personalized and efficient as possible, and look forward to continue building out our technology offering through the rest of 2018 and into 2019. We trust our high standards for patient service and diverse range of services offered will lead to continued growth and many more record-breaking months to come.”
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About 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 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
Public Relations Contact:
Tory Patterson, CMW Media
Web and Application Development Contact:
Marcello Jaspan, Mass Ventures Corp