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Progressive Care Inc. Announces 40% Year-Over-Year Increase in Prescriptions Filled and Continued Strong Revenues in September 2018
MIAMI, Oct. 16, 2018 (GLOBE 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 September 2018.
In September, the company reported a total of $1.6 million in net revenue, a 7% increase from the same month last year, and a 40% increase in prescriptions filled during the same month last year, totaling more than 24,300 filled prescriptions.
Progressive Care’s wholly-owned subsidiary PharmCo, LLC saw a record month for prescriptions filled in September, reporting a 23% increase in prescriptions filled over the same month last year, totaling more than 21,350 prescriptions. The company’s newest PharmCo facility, Touchpoint Rx (dba PharmCo Rx 1002), reported just over 3,000 prescriptions filled during the month of August and nearly $100,000 in revenue. The growth is a result of Progressive Care’s continued development of the company following the completed acquisition of the pharmacy in early July of this year.
“As we close out another strong quarter, we are proud to report another equally strong month of sales and prescription numbers. These results illustrate our ongoing dedication and commitment to providing patients with a full range of personalized pharmacy services,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “We are pleased with the growth we are seeing from our PharmCo West Palm Beach facility (formerly referenced as Touchpoint Rx). We are excited about all of the progress and opportunities we have now because of the recognition of our unique approach and breadth of pharmacy services.”
Other recent company announcements include the launch of an updated website for Progressive Care’s wholly owned subsidiary, PharmCo LLC, dedicated to providing patients with additional knowledge on its growing platform of offered products and suite of services. The company also announced a record number of prescriptions filled in August 2018, with a 44% increase in prescriptions filled during the same month last year.
For more information about Progressive Care, please visit the company’s website.
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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.
Investor Relations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development
Public Relations Contact:
Tory Patterson, CMW Media
Web and Application Development Contact:
Marcello Jaspan, Mass Ventures Corp