Progressive Care Inc (OTCMKTS:RXMD) is “a pers

Progressive Care Inc (OTCMKTS:RXMD) is “a personalized healthcare services and technology company”. It operates a number of pharmacies under the PharmCo RX brand and has an integrated technology, data analytics, testing, and patient management system, along with ecommerce and same-day delivery of prescriptions and products.

The company has been benefiting from a surge in demand for its rapid-results antibody test kits (COVID-19 IgG/IgM) registered through the FDA under its Emergency Use Authorization guidelines for conducting SARS-CoV-2 antibody presence and COVID-19 infection diagnosis testing.

The company has put up impressive numbers, with consolidated monthly gross sales across all locations during May totaling $3 million, representing year-over-year growth of 67%. It was 54% the month before, and 105% in March. And it was even better before the pandemic hit.

Progressive Care Inc (OTCMKTS:RXMD) has been working towards integrating a strong technology services model to bring more scalability into the picture ahead of a coming uplist onto the Nasdaq exchange. As a case in point, the company just announced the launch of “ClearMetrX”, the Company’s first wholly-owned data analytics company with services designed to support health care organizations across the country.

The idea to consolidate data analytics and reporting services in a separate, wholly owned subsidiary of the Company is based on the Company’s evaluation of the data analytics and reporting tools in current pharmacy operations. Over the past 9 months, the Company has generated over $250,000 in data management fees with gross margins exceeding 80%. By creating a separate entity for these services, the programs can be delivered nationwide without the competitive pressures associated with pharmacy. The new subsidiary will focus on providing insights, data security, and technological development. The Company plans to transition data service customers from the pharmacies to the ClearMetrX platform to better scale the products and improve the capabilities of existing analytics options.

If you’re long this stock, then you’re liking how the stock has responded to the announcement. RXMD shares have been moving higher over the past week overall, pushing about 18% to the upside on above average trading volume.

Progressive Care Inc (OTCMKTS:RXMD) generated sales of $9.1M, according to information released in the company’s most recent quarterly financial report. That adds up to a monthly year-over-year growth rate of 62% on the top line as of the Company’s last monthly performance update.

https://www.wallstreetpr.com/the-new-pharmacy...-rad-43399