Miami, FL -- February 1, 2022 -- InvestorsHub NewsWire --
Progressive Care, Inc. (OTCQB:
RXMD) (the “Company” or “Progressive Care”), a personalized
healthcare services and technology provider, is pleased to announce
it has continued to experience strong demand for its COVID-19
testing. Fourth quarter and annual 2021 COVID-19 testing revenue
increased 132% and 620%, to $1.4 million and $4.3 million,
respectively.
Alan Jay Weisberg, Chairman and Chief Executive Officer of
Progressive Care, commented, “During 2021, we launched an
aggressive expansion of our COVID-19 testing service, which
contributed to accelerated revenue growth rates. The fourth quarter
was particularly strong, as we continued to market our PharmcoRx
brand to corporate clients as a one-stop shop for COVID-19 testing
and vaccine management solutions. We believe our positioning as a
leading Florida health services organization and provider of
COVID-19 testing and vaccine services will build additional value
for our shareholders.”
Progressive Care currently operates over 40 COVID-19 Rapid PCR
Test analyzers. The Company has built strong relationships with its
corporate clients and successfully scaled its infrastructure
capable of testing up to 1,000 patients a day, with results in as
little as 15 minutes.
Progressive Care provides COVID-19 testing services using the
FDA’s Emergency Use Authorization (“EUA”) guidelines, featuring
Polymerase Chain Reaction (“PCR”) and Antigen testing systems that
produce rapid detection of the SARS-CoV-2 virus, and Antibody
testing to detect the presence of IGG and IGM antibodies in the
blood.
The systems the Company uses for Rapid Detection of the
SARS-CoV-2 virus is a molecular test using a lab technique called
PCR, an antigen-based testing system designed to detect proteins
from the virus that causes COVID-19, and COVID-19 IgG/IgM Rapid
Test Cassette authorized for the detection of antibodies to
SARS-CoV-2 in human venous whole blood.
Progressive Care testing sites are equipped with analyzers
capable of detecting positive or negative COVID-19 results within
minutes. Each Site is operated by clinically trained Pharmacy staff
and administering tests on and off site. The Company has
established a reputation as a reliable testing partner and
currently provides testing services to international travelers and
international airlines, chain restaurants, U.S. and international
production and entertainment companies, and local healthcare
communities. The Company has been able to build an Ecosystem that
allows a patient, employer, or coordinator in-charge to chat with
the Company’s support team, schedule a test, pay for the test, and
at the point of arrival to the site create a profile and access
test results by simply scanning a QR code from a mobile device.
Using the same Ecosystem, the Company’s support staff can manage
the entire patient’s journey and provide automated reporting of the
results to regulatory authorities, supervisors and coordinators
in-charge.
Progressive Care, Inc.
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.
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.progressivecareus.com/
https://twitter.com/ProgressCareUS
PharmCoRx
https://www.pharmcorx.com/
https://twitter.com/PharmCoRx
ClearMetrX
https://www.clearmetrx.com/
https://www.facebook.com/clearmetrx/
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.
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
Investor Relations Contact:
Brian Loper
ClearThink
bloper@clearthink.capital
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