Progressive Care Announces November 2020 Results, Reports Strong Prescriptions and Covid-19 Rapid Testing Sales
January 08 2021 - 7:10AM
InvestorsHub NewsWire
MIAMI, FL -- January 8, 2021 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTCQB:RXMD)
(“Progressive Care” or the “Company”), a personalized healthcare
services and technology company, is pleased to announce performance
data for the month of November 2020.
• Consolidated gross sales across all locations during November
2020 totaled $3.4 million, representing a 6.3% year-over-year
growth when compared with November 2019.
• Prescriptions filled during November came in at approximately
42,600, which was roughly flat (down less than 1%) on a
year-over-year basis.
• 340B fees grew 94% in November on a year-over-year basis, to
approximately $212,000.
• The Company booked approximately $160,000 in revenues related
to Rapid Results COVID-19 Virus Testing in November, up 72% on a
month-over-month basis.
“While this remains a challenging environment for our clients,
patients and providers, we continue to execute at a high level, and
we are grateful for the opportunity to provide value for our
surrounding communities,” commented Alan Jay Weisberg, CEO and
Chairman of Progressive Care. “Overall sales continued to
demonstrate a robust growth trend, our testing and TPA services
surged once again, and we look forward to further growth
opportunities in the months and quarters ahead given our recent
physical consolidation, our upcoming Orlando, Florida expansion,
and the strong logistical foundations we have laid for both the
launch of Covid-19 vaccine administration and further robust growth
in our COVID-19 testing services.”
The Company has also recently completed a move into its new
11,000 sq ft pharmacy space in Hallandale Beach, Florida and plans
to complete the move to its new 3,700 sq ft Orlando location before
the end of January, which should drive important performance gains,
advances in productivity, volume, and market reach due to the space
and efficiency.
“Our expanded Orlando location represents a major upgrade,”
added Weisberg. “In addition to driving gains in our access to the
dynamic Orlando market, the move will allow us to build out our
growing 340B business and dramatically expand our rapid results
testing services.”
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.progressivecareus.com/
https://twitter.com/ProgressCareUS
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About Progressive Care: 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 Disclosure Regarding Forward-Looking Statements:
Forward-Looking 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. 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
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