MIAMI – March 21, 2019 – Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and number of prescriptions filled for February 2019.
In February, the company reported a total of $1.7 million in net revenue, a 17% increase from the same month last year, and a 36% increase in prescriptions filled during the same month last year, totaling nearly 26,719 prescriptions filled. Despite industry headwinds through reimbursement compression, network restriction, and formulary reduction, the Company continues its upward growth trend for revenues and prescriptions filled. The Company credits this growth to superior performance reviews and promotion of value-added healthcare service offerings.
“February was another big month for us. Progressive Care exceeded February, 2018 prescription fillings and is moving forward on major initiatives,” said S. Parikh Mars, CEO of Progressive Care. “We are currently wrapping up the annual report and working through the acquisition process with licensing and contracting agencies. We are on track to double our revenues post acquisition of FPRX and are confident that 2019 will lead to continued growth, more record-breaking months, and even bigger milestones as we continue our mission to revolutionize the pharmacy industry.”
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:
Kathleen Gonzales, CMW Media
Web and Application Development Contact:
Marcello Jaspan, Mass Ventures Corp