RXMD- NEWS OUT..... MIAMI, March 16, 2018 (GLOB
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Posted On: 03/16/2018 8:32:52 AM
RXMD- NEWS OUT.....
MIAMI, March 16, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB:RXMD), a healthcare services and technology company, announces strong sales for the month of February 2018.
PharmCo, LLC filled over 19,500 prescriptions during the month of February, generating nearly $1.45 million in net revenues. Prescriptions filled increased by 18% compared to the same month last year. Revenues remained flat year over year. The company also filled over $450,000 worth of prescriptions (not included in Net Revenues) for 340B entities in February, generating fees to the pharmacy of approximately $20,000 which is nearly a 200% increase over the same month last year.
The Company is in the middle of what is commonly called “deductible season” where costly health care decisions are deferred until after deductibles are met for the year. During this period, typically the first quarter of the year, costly prescriptions therapies are less likely to be initiated or continued when compared to the rest of the year. This period typically affects compound sales and other specialty medications.
“This year has been busy and moving quickly,” stated S. Parikh Mars, CEO. "We are executing on a number of fronts to expand and diversify the company as a leader in the industry. The Company is gaining ground in prescription counts and sales and we are anticipating the release of our 2017 audited financial statements and completion of the due diligence process for our first acquisition to close out the quarter.”
Get connected and stay in touch with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care
Progressive Care Inc. (OTCQB:RXMD), through its subsidiaries Smart Medical Alliance, Inc. and 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, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, 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.
Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
MIAMI, March 16, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB:RXMD), a healthcare services and technology company, announces strong sales for the month of February 2018.
PharmCo, LLC filled over 19,500 prescriptions during the month of February, generating nearly $1.45 million in net revenues. Prescriptions filled increased by 18% compared to the same month last year. Revenues remained flat year over year. The company also filled over $450,000 worth of prescriptions (not included in Net Revenues) for 340B entities in February, generating fees to the pharmacy of approximately $20,000 which is nearly a 200% increase over the same month last year.
The Company is in the middle of what is commonly called “deductible season” where costly health care decisions are deferred until after deductibles are met for the year. During this period, typically the first quarter of the year, costly prescriptions therapies are less likely to be initiated or continued when compared to the rest of the year. This period typically affects compound sales and other specialty medications.
“This year has been busy and moving quickly,” stated S. Parikh Mars, CEO. "We are executing on a number of fronts to expand and diversify the company as a leader in the industry. The Company is gaining ground in prescription counts and sales and we are anticipating the release of our 2017 audited financial statements and completion of the due diligence process for our first acquisition to close out the quarter.”
Get connected and stay in touch with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care
Progressive Care Inc. (OTCQB:RXMD), through its subsidiaries Smart Medical Alliance, Inc. and 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, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, 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.
Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
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