MIAMI – September 18, 2018 – Progressive Care Inc. (OTCQB: RXMD), apersonalized healthcare services and technology company, today announced further growth year-over-year in both revenue and number of prescriptions filled for August 2018. In August, the company reported a total of $1.93 million in net revenue, a 3% increase from the same month last year, and a 44% increase in prescriptions filled during the same month last year, totaling just over 29,000 filled prescriptions.
Progressive Care’s wholly-owned subsidiary PharmCo, LLC saw a record month for prescriptions filled in August, reporting a 30% increase in prescriptions filled over the same month last year, totaling more than 26,200 prescriptions.
The company’s newest PharmCo Rx 1002 facility reported just over 2,700 prescriptions filled during the month of August and approximately $116,000 in revenue. Since completing the acquisition of the Touchpoint pharmacy last month, Progressive Care has increased the involvement of its own management at the new location to ensure it will continue to have a significant contribution on the company’s ongoing expansion plans for the remainder of 2018 and well into the following year.
“We are proud to announce another month of significant growth for Progressive Care. The strong sales and prescription numbers reported for August serve as a testament to the increased value we continue to deliver to not only our shareholders, but also to our growing network of patients, physicians, and providers,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc.
Mars continued: “As we head into the end of 2018, Progressive Care will keep taking the necessary steps to execute its growth and expansion plans. In addition to aggressively increasing our management team’s involvement at the new pharmacy location to ensure it will have a greater impact on prescriptions filled and reported revenue in future months, the company will also continue to build out its healthcare technology offering through the development of our own proprietary Tele-Pharmcosoftware and ongoing updates to the new PharmCo website.”
The release of the company’s August 2018 sales figures follows the recent launch of PharmCo’s newly redesigned website, which aims to provide patients with a better understanding of the company’s products and services, as well as offer an online resource platform for healthcare stakeholders to better understand Progressive Care’s model and how it delivers leading performance and results.
Earlier this month, Progressive Care announced that its Chief Executive Officer would be speaking on the “Global vs. Local” panel at the first FlyPharma conference in the United States, which took place September 11-12th in Miami, Florida. The company also announced media coverage it has received in top trade publications for its efforts to battle the opioid epidemic and its strong expertise in healthcare technology.
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 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