MIAMI, April 13, 2018 (GLOBE NEWSWIRE) — Progressive Care Inc. (OTCQB: RXMD), a healthcare services and technology company, announced increased prescriptions filled and revenue for March 2018.
PharmCo, LLC filled over 22,800 prescriptions during the month of March, generating nearly $1.9 million in net revenues. Prescriptions filled and revenues increased by 20% and 18% respectively compared to the same month last year. Revenues and prescription counts continue to increase as the Company promotes its proactive patient engagement model to doctor’s offices and clinics keen to lower healthcare costs and provide quality service to their patients. The company also filled over $470,000 worth of prescriptions on behalf of 340B entities (not included in Net Revenues) in February, generating fees to the pharmacy of approximately $20,000 which is over a 200% increase over the same month last year.
The Company is proceeding with its acquisition of Touchpoint Rx, located in Palm Beach County. The Company has begun the process of filing applications and notifying relevant regulatory agencies the results of which will consummate the closing. In the interim, PharmCo, LLC is facilitating the management of the Touchpoint and initiated transition processes for smooth workflow and the introduction of convenience packaging to the South Florida retail market.
“This has been truly an exciting quarter,” stated S. Parikh Mars, CEO. “We are well on our way to having our second location. Our services will be greatly improved by addition of automated convenience packaging options for retail patients. We have a number of other initiatives we are pushing forward on and feel that we are executing well.”
This Press Release has been updated to reflect the correct percentage increase of year over year revenues.
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About Progressive Care
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.
Senior Advisor Business Development