Progressive Care
Continues to Break Records with Over $20 Million
in Sales
MIAMI FL
-- January 10, 2018 -- InvestorsHub
NewsWire -- health practice risk
managementand the supply of prescription
medications to long term care facilities, administration and
practice management, utilization management, quality assurance, EHR
Implementation, billing and coding, n therapy management
(MTM), PharmCo, LLC, is a South
Florida health services organization and provider of prescription
pharmaceuticals, compounded medications, the sale of
anti-retroviral medications, medicatiosubsidiary, through its
Progressive Care
Inc. (OTCQB:
RXMD), announces over
$20 million
in
net
revenues on approximately
225,000
prescriptions
filled in 2017.
PharmCo,
LLC filled
over 19,500 prescriptions during the
month of December, generating
approximately $1.6 million in net revenues.
Prescriptions
filled increased
by approximately
8%
over
the same month
last year. The company
also filled
over $360,000 (not included in net
revenues) worth of prescriptions for
340B entities in
December,
generating fees to the pharmacy of
over
$15,000.
The
company has been successful in
breaking records in 2017. The company announced over
$20 million in net revenues, an 11% increase over 2016. The company
is expecting to achieve
increased growth through 2018
as well as
continued reporting of strong operational and financial
performance. These all-time high sales
figures indicate
a positive outlook for the company into
the coming year.
During
the Earnings Call held on November
14, 2017,
S. Parikh Mars (CEO), discussed avenues of expansion and
advancement for the company during the coming
year. In
addition to record breaking sales, the company has
been
successful
in its efforts to
upgrade its OTCMarkets
listing tier to
OTCQB. The
sales reported are recognized from diversified revenue streams and
ongoing development of the Company's portfolio of healthcare
services. Innovation is also a factor as the company launched
numerous new and exciting programs in 2017, such as its
tele-pharmacy platform.
"2017 was a year of accomplishment
and we are proud of all that this
company has achieved," stated S. Parikh Mars,
CEO. "Reaching $20 million in sales was a
challenge this year given the ever changing climate in the
healthcare industry. However, we have elevated our level of service
and secured our footing for continued growth and expansion in
2018. We
now embark on a new set of ambitious
goals for the
year. Our hard work and dedication
will continue to
drive us
as we prepare for many possible and exciting
outcomes."
About
Progressive Care
Progressive Care Inc.
(OTCQB:
RXMD),
through its subsidiary 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 Company's 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