Progressive Care Reports $1.8 Million Revenues on 20,000
Prescriptions in August
MIAMI, FL -- September 19, 2017 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTC
PINK:RXMD), through its subsidiaries Smart Medical Alliance,
Inc. and PharmCo, LLC, is a South Florida health services
organization and provider of prescription pharmaceuticals,
compounded medications, the sale of anti-retroviral medications,
medication therapy management (MTM), the supply of prescription
medications to long term care facilities, administration and
practice management, utilization management, quality assurance, EHR
Implementation, billing and coding, and health practice risk
management, announces over $1.8 million in net revenues during
August 2017.
PharmCo, LLC filled over 20,000 prescriptions during the month
of August, generating over $1.8 million in net revenues. Revenue
increased approximately 3.7% while prescription counts remained
flat year-over-year. The company is working on growing 3 keys
segments: Palm Beach County prescription sales, 340B, and
Medication Therapy Management (MTM). Though a small portion of the
companys revenues, 340B income increased just under 50% in the
month of August. PharmCo, has assigned more personnel to MTM to
accommodate increasing demand for completed cases by insurance
companies and providers.
The Company is in varying stages of the negotiating process with
potential acquisition targets. The Company has focused on
acquisition opportunities that have the ability to increase the
service radius of the company in the state of Florida while also
adding synergistic sales. The current outlook is to close on at
least one opportunity before the end of the year.
Success is not for those weary of arduous progress, stated S.
Parikh Mars, CEO. We set ambitious goals for ourselves at the
beginning of the year and we have only added to those goals since
then. We are determined to uplist to OTCQB and to close on an
acquisition before the end of the year. Despite all of the twists
and turns in the healthcare industry this year, we are still set on
delivering growth and expansion in Florida and throughout the
country. It will take a lot more than a hurricane to slow us
down.
About Progressive Care
Progressive Care Inc. (OTC
PINK:RXMD), through its subsidiaries Smart Medical Alliance,
Inc. and PharmCo, LLC, is a South Florida health services
organization and provider of prescription pharmaceuticals,
compounded medications, the sale of anti-retroviral medications,
medication therapy management (MTM), the supply of prescription
medications to long term care facilities, administration and
practice management, utilization management, quality assurance, EHR
Implementation, billing and coding, and health practice risk
management.
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