Progressive Care Beats Expectations with over $18 Million in
2016 Revenues
MIAMI, FL -- January 20, 2017 -- 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
record breaking 2016.
PharmCo closed out 2016 with revenues of $1.7 million and 18,000
prescriptions filled during the month of December. This was a 20%
and 6% increase respectively over the same period last year. The
Companys strong December brought annual revenues to over $18
million on approximately 215,000 prescriptions filled in the
pharmacy, which is a 34% and 20% increase respectively over 2015.
Sales performance outpaced annual expectations by approximately $2
million.
We could not have asked for a better 2016, stated S. Parikh
Mars, CEO. We set ambitious goals at the beginning of the year and
always believed that we could accomplish them. Our sales represent
the success of our pharmacy model and what we believe a pharmacy
should be in the new healthcare climate.
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.
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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
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forward-looking statements.
Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com