Progressive Care Increases Revenue by 33% to $1.6 Million during
October 2016
MIAMI, FL -- November 28, 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
robust October 2016 sales.
PharmCo continues to deliver year over year growth, filling over
18,600 prescriptions and garnering revenues of $1.6 million for the
month, which is a 17% and 33% increase over the October 2015
respectively. Through the first 10 months of 2016, the Company has
surpassed the total revenue generated in 2015 by over $1 million.
At the outset of the year, the Company set an aggressive 20%
revenue growth target of $16 million annual revenues. Today,
PharmCo is on pace to reach over $17.5 million in annual revenues.
Increasing compounding sales are delivering stronger than expected
results for the pharmacy.
"This is a really exciting start to the final quarter of the
year," stated S. Parikh Mars, CEO. "The Script Pro automation
system has been installed, Smart Medical Alliance is already
generating revenue and signing new clients, and demand for the
PharmCo is continuing to grow. We are set to beat all of our
financial goals for the year and deliver outstanding progress to
our shareholders."
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.
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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
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forward-looking statements are based on information currently
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Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com