MIAMI, Feb. 13, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. (RXMD), a healthcare services and technology company, announces record breaking month of January 2018.
PharmCo, LLC filled over 23,000 prescriptions during the month of January, generating $1.8 million in net revenues. Prescriptions filled increased by 34% compared to the same month last year and by 10% over the last record breaking month in October 2017. Revenues increased by approximately 9% as compared to January 2017. The company also filled over $450,000 worth of prescriptions (not included in Net Revenues) for 340B entities in January, generating fees to the pharmacy of just over $20,000. Current growth has been driven by expansion into Palm Beach County, the digital marketing campaign with Mass Ventures Corp, proficiency of medication therapy management and adherence programs, and the visibility of the pharmacy’s 5 star service rating among physicians and patients throughout South Florida.
“We are thrilled about the fast start to 2018,” stated S. Parikh Mars, CEO. "We are just beginning to see the results from the groundwork we laid in 2017. Over the past 12 months, we have strategically positioned ourselves to take advantage of the changing trends in the healthcare industry. Today, more physicians than ever before are recognizing the impact PharmCo and its model has on their bottom line. They are increasingly seeking out our services to improve patient outcomes and increase profitability.”
Common Shares Issued and Outstanding:
As of February 13, 2018 the number shares of common stock issued and outstanding stood at 365,408,769 shares. This amount is net of the number of shares owned by PharmCo, LLC of 1,718,000. The Company has fully paid off its first installment from Chicago Venture Partners. The Company paid approximately $130,000 in cash and $150,000 in stock. Total shares issued to Chicago Venture Partners was 19,863,662.
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About Progressive Care
Progressive Care Inc. (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.