Progressive Care Exceeds Sales Goals with $1.5 Million
Revenues
MIAMI, FL -- August 18 2016 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTC
PINK: RXMD), through its subsidiary Pharmco LLC, a South
Florida health services organization and provider of prescription
pharmaceuticals specializing in health practice risk management,
compounded medications, the sale of anti-retroviral medications and
related medication therapy management, and the supply of
prescription medications to long term care facilities, announces
July 2016 revenues of $1.5 million.
PharmCo exceeded expectations during July 2016 with over 16,600
prescriptions filled and revenues nearly $1.5 million. The number
of prescriptions filled increased 3.5% when compared to the same
month last year despite two less billing days in July 2016.
Revenues on prescriptions filled climbed approximately 43% when
compared to July 2015. Compounded medications continues to be a
strong driver of revenue growth along with increased demand from
providers and healthcare facilities for PharmCos risk management
services.
This is a wonderful start to the quarter, stated S. Parikh Mars,
CEO. We surpassed all of our goals for the month despite the slow
season and changes in reimbursement rates that became effective
July 1st. We are excited to carry forward the unexpected gains from
this month into the fall as we pursue an aggressive growth strategy
of new marketing and advertising campaigns, expansion into new
states, ramp-up of long term care sales and development of new
product lines.
Common Shares Issued and Outstanding:
As of August 18, 2016 the number shares of common stock issued
and outstanding stood at 341,107,607 shares. This amount is net of
the number of shares owned by PharmCo, LLC of 1,718,000.
About Progressive Care
Progressive Care, Inc. (OTC
PINK: RXMD), through its subsidiary PharmCo, LLC, is a South
Florida health services organization and provider of prescription
pharmaceuticals specializing in health practice risk management,
compounded medications, the sale of anti-retroviral medications and
related medication therapy management, and the supply of
prescription medications to long term care facilities.
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 Companys
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