Progressive Care Inc.
Continues to See Strong
Prescriptions Numbers and Overall Revenue
in May 2018
Miami,
FL -- June 14,
2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD),
a personalized
healthcare
services and technology company,
today announced further
growth year-over-year in both revenue and number of prescriptions
filled for May
2018.
Progressive
Care's wholly owned subsidiary PharmCo, LLC
has seen
an
18.75% increase in prescriptions filled over the
same month last year, totaling
approximately 22,300 prescriptions.
May brought a
total net revenue of roughly $1.78 million: a slight decrease of 4.6%
from May
2017, due to
decreased reimbursement rates on compounds
and the transition of more patients to
the company's 340B model that decreases sales but maintains
profitability due to dispensing fees. However,
looking
at the total
revenue combined for April and May, Progressive Care
shows an increase
of 2.4%
compared to last year.
"As we come out
of another month of substantial growth we continue to dedicate
ourselves to providing our patients a full range of personalized
medication therapies," said S. Parikh Mars, CEO of Progressive Care
Inc. "As reimbursement compression across the medication spectrum
remains, Progressive Care has devoted itself to increasing
revenues with
continued sales efforts, medication diversification, and
further expansion of our service offerings."
As Progressive
Care continues significant growth month-over-month, more patients
and providers are able to experience its proactive patient engagement
model designed to lower healthcare costs and
provide quality service to everyone. The company also
dispensed
$550,000
worth of
340B services
(which is not included in sales figures) and generated nearly
$25,000 in fees, a
245% increase over May of last year.
The May sales
figures come on the heels of some significant company
announcements
including the
launch of a nationwide opioid marketing
campaign,
the purchase
and installation of a new TCGRx pouch
packaging system and the initial steps in
developing a proprietary tele-pharmacy
software.
For
more information about Progressive Care, please visit the
company's website.
Connect
and stay in touch
with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care, Inc.
Progressive Care
Inc. (OTCQB:RXMD), through its PharmCo, LLC, is a South Florida
health services organization and provider of prescription
pharmaceuticals, compounded medications, provider of tele-pharmacy
services, the sale of anti-retroviral medications, medication
therapy management (MTM), the supply of prescription medications to
long term care facilities, 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.
Public Relations Contact:
Tory Patterson,
CMW Media
Public Relations
Consultant
Tory@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
Armen
Karapetyan, Progressive Care
Senior Advisor
Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com