Progressive Care Completes Move to New Facility, Begins Expansion Into Long-Term Care Pharmacy Market
December 23 2020 - 7:33AM
InvestorsHub NewsWire
Miami, FL -- December 23, 2020 -- InvestorsHub
NewsWire -- Progressive Care Inc. (OTCQB:RXMD) (“Progressive
Care” or the “Company”), a personalized healthcare services and
technology company, is pleased to announce that the Company has
completed its move into its new 11,000 sq ft pharmacy space in
Hallandale Beach, FL.
In addition to the cost savings, management believes the move
will also drive advances in productivity, volume, and market reach
due to the space and efficiency afforded by the Hallandale Beach
location.
“The new location is positioned and designed to access the South
Florida long-term care pharmacy marketplace across five of the
highest LTC-concentration counties in the U.S. prescription
market,” commented Alan Jay Weisberg, CEO and Chairman of
Progressive Care. “In addition to addressing the huge and growing
need for prescription medications at long-term care facilities in
this region, Progressive Care, through its new expanded location,
is also committed to becoming a leader in the rapidly growing
Infusion therapy market, a logistically advantageous expansion that
stands to have a material and durable impact on both volume and
margins in our core pharmacy business.”
According to a recent research report from Access Market
Intelligence, the long-term care pharmacy market was nearly $17
billion in 2019 on more than 400 million prescriptions filled.
For more information about Progressive Care, please visit the
company’s website. Connect and stay in touch with us on social
media:
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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
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. 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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