Progressive Care Reports June 2020 Performance Data: Preliminary Q2 Sales Up 33% to $9.32M
July 27 2020 - 7:36AM
InvestorsHub NewsWire
Miami, FL -- July 27, 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 June 2020, along with preliminary
fiscal Q2 performance data, both of which demonstrate a continued
robust trend of growth in sales, prescriptions, 340B income, and
COVID- 19 testing service revenues.
-
Consolidated monthly gross sales across all locations during the
month of June totaled $3.35 million, representing monthly
sequential growth of 12% compared to May 2020
-
Consolidated preliminary sales for the three months ended June
30, 2020, totaled $9.32 million, representing quarterly
year-over-year growth of 33.2%
-
Prescriptions filled during the month of June came in at 44,251,
representing monthly sequential growth of 11% compared to May
2020
-
340B claim processing from FQHCs produced roughly $229K in net
income, up over 80% on a monthly sequential basis
-
Expanded COVID-19 testing service to additional counties with
strong demand, additional expansion underway
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"We had a tremendous quarter with another great month, and
calendar Q3 is off to a busy start on all fronts, particularly as
we continue to step to the frontline in COVID-19 testing services,"
remarked S. Parikh Mars, CEO of Progressive Care. "Preliminary
numbers on Q2 look strong with growth on a consolidated y/y basis
topping 33%. That is particularly gratifying given the
extraordinary nature of the context that will forever define those
three months. That said, for Floridians, the struggle is still very
much ongoing, and we will continue to be there in the trenches with
our valued patients, clients, customers, and provider
partners."
Management notes that the Company has been aggressively
expanding its antibody testing operations. As noted in its release
dated July 14, Progressive Care expanded its antibody testing
regional footprint to include Palm Beach County. The Company plans
to further expand this territory in the near future as well.
This service has been met with extremely strong demand at its
Dade County location, depleting testing kit inventories through
on-site administrations. In response to both this surge in demand
and the expansion in regional coverage, the Company has implemented
processes to ensure supply of antibody testing kits for sale and
administration across all four counties.
"We have now established leadership in contactless delivery of
pharmacy services and access to rapid results antibody testing in
Dade, Broward, and Palm Beach counties," added Mars. "We are
grateful for the opportunity to extend the scope of that commitment
wherever we can."
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
ClearMetrX
https://www.clearmetrx.com/
https://www.facebook.com/clearmetrx/
Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com
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