Progressive Care Doubles March
Sales, Successfully Utilizing Its Market Leading Contactless RX
Delivery Due to Covid-19 Pandemic
MIAMI, FL -- April 15, 2020 -- InvestorsHub NewsWire
-- Progressive
Care Inc. (OTCQB:
RXMD) (“Progressive Care” or the “Company”), a personalized
healthcare services and technology company, is pleased to announce
operational performance data for March 2020, which featured
breakthrough growth in total sales and a new Company record in
total number of prescriptions filled on sharp market share
gains:
· Consolidated
monthly gross sales across all locations totaled $3.6 million,
representing year-over-year growth of 105% compared to March
2019,
· Prescriptions
filled during the month came in at 47,467, representing
year-over-year growth of 76% compared to March 2019,
· Prescriptions
filled hit a new all-time monthly record for the Company in
March,
· “Ready, Set,
PrEP” Program for HIV prevention launched,
· Seeing
continued growth in services targeting non-profit
organizations,
· Will file with
SEC for fully reporting status.
“Our market-leading contactless delivery experience has
positioned Progressive Care to truly thrive in this uniquely
challenging context, and that really showed through in March,”
commented S. Parikh Mars, CEO of Progressive Care. “Much of this
growth is the result of patients and physicians choosing our
pharmacies over grocery store and chain pharmacies to better
protect themselves from exposure during this time. We have worked
steadily to deliver prescriptions securely while adhering to
contactless protocols during the pandemic.”
Management notes that March was a record-breaking month driven
largely by heavy incentivization at the prescriber level to
recommend pharmacy services that minimize the risk of patient
infections. Progressive Care has earned a reputation in the
physician community for safeguarding the health and wellbeing of
patients.
The Company believes that this explosive wave of growth is best
understood as a market share phenomenon, which is a dynamic that
may continue to define results over the intermediate-term. The
Company expects continued influxes of new patients over the next 30
days as patients are encouraged to stay at home. Furthermore, it
does not expect added attrition of patients once the current crisis
conditions wain as patients of the Company have high satisfaction
rates.
“We have also launched our Ready, Set, PrEP Program for HIV
prevention and we have worked steadily to add new relationships
with not-for-profit clinics,” continued Mars. “We expect to have
several of these clinics actively engaged with this service in
Q3.”
For more information about Progressive Care, please visit the
company’s website.
Connect and stay in touch with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
Five Star RX
https://www.fivestarrx.com/
https://www.facebook.com/fivestarrx/
About Progressive Care Inc.
Progressive Care Inc. (RXMD),
through its subsidiaries, is a 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
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
Public
Relations Contact:
Caitlin Franscell, CMW
Media
caitlin@cmwmedia.com
www.cmwmedia.com
Web and
Application Development
Contact:
Carlos
Rangel
carlosr@pharmcorx.com
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