Progressive Care
Reports 18% Increase in Year over Year Prescriptions Filled
During February 2018
MIAMI, FL.
-- March 16, 2018 -- InvestorsHub
NewsWire -- Progressive Care Inc. (OTCQB:
RXMD),
a healthcare services and technology company, announces
strong sales for
the month
of February 2018.
PharmCo,
LLC filled over 19,500 prescriptions during the
month of February,
generating
nearly
$1.45 million in net revenues.
Prescriptions filled increased by 18% compared to the same month
last year. Revenues
remained flat
year over year. The company also filled
over $450,000 worth of prescriptions
(not included in
Net Revenues) for 340B entities in
February, generating fees to the
pharmacy of approximately
$20,000 which is nearly a 200% increase over the same
month last year.
The
Company is in the middle of what is commonly called "deductible
season" where costly health care decisions are deferred until after
deductibles are met for the year. During this period, typically the
first quarter of the year, costly prescriptions therapies are less
likely to be initiated or continued when compared to the rest of
the year.
This period typically affects compound sales
and other
specialty medications.
"This year has been busy and
moving quickly," stated S. Parikh Mars,
CEO. "We
are executing on a number of fronts to expand and
diversify the
company as a leader in the industry. The Company is
gaining ground in
prescription counts and sales and we are anticipating the
release of our 2017 audited financial statements and completion of
the due diligence process for our first acquisition
to close out the
quarter."
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About
Progressive Care
Progressive Care Inc.
(OTCQB:RXMD),
through its subsidiaries Smart Medical Alliance, Inc. and 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, administration and
practice management, utilization management, quality assurance, EHR
Implementation, billing and coding, 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.
Contact
Armen
Karapetyan
Senior Advisor
Business Development
armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com