RXMD Progressive Care Exceeds Sales Goals with $1.5 Million Revenues
Source: InvestorsHub NewsWire
Progressive Care Exceeds Sales Goals with $1.5 Million Revenues
MIAMI, FL -- August 18 2016 -- InvestorsHub NewsWire -- 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 July 2016 revenues of $1.5 million.
PharmCo exceeded expectations during July 2016 with over 16,600 prescriptions filled and revenues nearly $1.5 million. The number of prescriptions filled increased 3.5% when compared to the same month last year despite two less billing days in July 2016. Revenues on prescriptions filled climbed approximately 43% when compared to July 2015. Compounded medications continues to be a strong driver of revenue growth along with increased demand from providers and healthcare facilities for PharmCos risk management services.
This is a wonderful start to the quarter, stated S. Parikh Mars, CEO. We surpassed all of our goals for the month despite the slow season and changes in reimbursement rates that became effective July 1st. We are excited to carry forward the unexpected gains from this month into the fall as we pursue an aggressive growth strategy of new marketing and advertising campaigns, expansion into new states, ramp-up of long term care sales and development of new product lines.
Common Shares Issued and Outstanding:
As of August 18, 2016 the number shares of common stock issued and outstanding stood at 341,107,607 shares. This amount is net of the number of shares owned by PharmCo, LLC of 1,718,000.
Source: InvestorsHub NewsWire
Progressive Care Exceeds Sales Goals with $1.5 Million Revenues
MIAMI, FL -- August 18 2016 -- InvestorsHub NewsWire -- 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 July 2016 revenues of $1.5 million.
PharmCo exceeded expectations during July 2016 with over 16,600 prescriptions filled and revenues nearly $1.5 million. The number of prescriptions filled increased 3.5% when compared to the same month last year despite two less billing days in July 2016. Revenues on prescriptions filled climbed approximately 43% when compared to July 2015. Compounded medications continues to be a strong driver of revenue growth along with increased demand from providers and healthcare facilities for PharmCos risk management services.
This is a wonderful start to the quarter, stated S. Parikh Mars, CEO. We surpassed all of our goals for the month despite the slow season and changes in reimbursement rates that became effective July 1st. We are excited to carry forward the unexpected gains from this month into the fall as we pursue an aggressive growth strategy of new marketing and advertising campaigns, expansion into new states, ramp-up of long term care sales and development of new product lines.
Common Shares Issued and Outstanding:
As of August 18, 2016 the number shares of common stock issued and outstanding stood at 341,107,607 shares. This amount is net of the number of shares owned by PharmCo, LLC of 1,718,000.
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