Miami, FL -- October 22, 2020 -- InvestorsHub NewsWire --
Progressive Care Inc. (
OTCQB:
RXMD) (“Progressive Care” or the “Company”), a personalized
healthcare services and technology company, is pleased to announce
that ClearMetrX Inc., a wholly-owned subsidiary of the Company, has
completed an automated 340B data feed integration to expand the
total addressable market available to ClearMetrX Inc. as a
third-party administrator (“TPA”) for 340B healthcare providers
nationwide.
The Company’s 340B TPA business has grown more than 333% so far in
2020 and management believes this integration offers the potential
for further acceleration of the segment’s growth due to the
expanded market footprint it is expected to provide. “We now plug
directly into back-end in pharmacy transaction data,
circumnavigating the main hurdle we have faced in attempting to
ramp up growth as a TPA with ClearMetrX,” noted Alan Jay Weisberg,
interim CEO and Chairman of the Board at Progressive Care. “We can
immediately begin to operate ClearMetrX as a top-tier 340B TPA with
a true nationwide reach. Simply put, this integration unlocks a
significantly more scalable strategic vision for our data
management operations.”
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 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 our planned expansion of ClearMetrX 340B third party
administration services nationwide and future demand for our
services. 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.
Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com