Progressive Care Revenue Soars to Over $13 Million
Post# of 1525
Posted On: 01/14/2016 9:02:41 AM
Progressive Care Revenue Soars to Over $13 Million on 180,000 Filled Prescriptions
MIAMI, FL--(Marketwired - January 14, 2016) - Progressive Care Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities, announces record revenues and prescriptions sales for 2015.
The pharmacy filled nearly 180,000 prescriptions in 2015, which is a 28% increase over last year. During the fourth quarter, PharmCo filled over 48,000 prescriptions resulting in record revenues for the quarter at $3.9 million. December marked the strongest month for the company since inception with over $1.4 million in net pharmacy revenues.
In 2015, PharmCo brought in over $13.5 million in net pharmacy revenues. This is almost a 24% increase over 2014. Revenue growth accelerated during the final month and quarter with over 61% and 35% increases in revenues, respectively, when compared to the same time periods last year. The compounded medication division is the primary driver of revenue growth in addition to major additions to company's marketing team and expanded marketing campaigns with large clinics and physicians networks.
"While I am supremely happy with the progress we have made over the past year, I know that this is merely a fraction of what the company is capable of in the future. I am excited about bringing the company into 2016 with an ambitious resolve to accomplish major goals and realize our utmost potential. Our shareholders should take this time to share in the company's joy, but ready themselves for major growth and expansion in the coming year," stated Shital Parikh Mars, CEO.
MIAMI, FL--(Marketwired - January 14, 2016) - Progressive Care Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities, announces record revenues and prescriptions sales for 2015.
The pharmacy filled nearly 180,000 prescriptions in 2015, which is a 28% increase over last year. During the fourth quarter, PharmCo filled over 48,000 prescriptions resulting in record revenues for the quarter at $3.9 million. December marked the strongest month for the company since inception with over $1.4 million in net pharmacy revenues.
In 2015, PharmCo brought in over $13.5 million in net pharmacy revenues. This is almost a 24% increase over 2014. Revenue growth accelerated during the final month and quarter with over 61% and 35% increases in revenues, respectively, when compared to the same time periods last year. The compounded medication division is the primary driver of revenue growth in addition to major additions to company's marketing team and expanded marketing campaigns with large clinics and physicians networks.
"While I am supremely happy with the progress we have made over the past year, I know that this is merely a fraction of what the company is capable of in the future. I am excited about bringing the company into 2016 with an ambitious resolve to accomplish major goals and realize our utmost potential. Our shareholders should take this time to share in the company's joy, but ready themselves for major growth and expansion in the coming year," stated Shital Parikh Mars, CEO.
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