Progressive Care Announces Nine Month Sales of $30.2 Million, Increase of 31% and Updates September Performance
November 05 2020 - 7:33AM
InvestorsHub NewsWire
Progressive Care, Inc.
Miami, FL -- November 5, 2020 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTCQB:
RXMD) (“Progressive Care” or the “Company”), a personalized
healthcare services and technology company, is pleased to announce
preliminary topline performance data for the three- and nine-month
periods ended September 30, 2020, reflecting strong overall growth
in sales and prescriptions, breakout expansion in the Company’s
340B segment, and anticipated progress towards the launch of
telemedicine services before year-end.
- Consolidated gross sales across all locations during the nine
months ended September 30, 2020, totaled $30.2 million,
representing a 31% increase in total revenues compared to the nine
months ended September 30, 2019.
- Consolidated gross sales across all locations during the three
months ended September 30, 2020, totaled $10.72 million,
representing a 2% increase in total revenues compared to the three
months ended September 30, 2019.
- Fees for 340B services during the month of September 2020
jumped to $390k, an increase of 520% on a year-over-year
basis.
- Monthly gross sales across all locations for the month of
September 2020 increased 8% on a year-over-year basis
- Prescriptions filled during the month of September 2020 were
45,162, representing a 6% jump in total prescriptions on a
year-over-year basis
“In very basic terms, so far this year, we have nearly equaled
our total gross sales from all of last year, and we still have a
quarter to go,” commented Alan Jay Weisberg, CEO and Chairman of
Progressive Care. “That’s certainly a welcome accomplishment, as we
are continuing to pick up steam in our telemedicine and health data
management initiatives with a nationwide target reach.”
The Company anticipates a full live launch of its enhanced
telemedicine platform later this quarter, with the initial launch
focused on the Florida market, and a wider nationwide launch to
follow shortly thereafter.
“While this represents an extremely challenging time for our
country, Progressive Care remains grateful to be making a positive
contribution to the communities we serve,” added Mr. Weisberg. “We
have established a leadership brand in delivering a rapid COVID-19
testing solution, providing testing results to over 1000 people
just in the last 30 days. We are committed to expanding testing
capabilities to all our locations as soon as the Company receives
more analyzers and we are preparing our team for participation in
distribution and administration of COVID-19 vaccines, once approved
by FDA.”
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
Progressive Care Inc. (OTCQB:
RXMD), through its subsidiaries, is a 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 Company’s performance data for the three and
nine-month ended September 30th, 2020, as well as the projected
launch of the Company’s telemedicine platform during the 4th
quarter of 2020. 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: Carlos Rangel carlosr@pharmcorx.com
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