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Progressive Care, Inc. (RXMD)

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Last Post: 5/24/2022 9:05:46 PM - Followers: 756 - Board type: Free - Posts Today: 0

Progressive Care Inc. Executes Agreement to Purchase Florida Pharmacies

2016 Revenue: $18.32M
2017 Revenue: $20.1M
2018 Revenue: $20.95M

2019 Revenue: $32.25M
2020 Revenue: $38.5M
2021 Revenue: $38.9M - We became profitable this year!

2022 Projected Revenue: $40M+ (RXMD GAINES SEC REPORTING STATUS!!)

To be uplisted to Nasdaq or NYSE in 2022


901 N Miami Beach Blvd, Suite 1-2
North Miami Beach, FL 33162

New Headquarters: 400 Ansin Blvd, Hallandale Beach, Fl 33009 (11,000 sf)
  Website http://www.progressivecareus.com/
       subsidiary http://www.pharmcopharmacy.com/

Phone: 305-919-7399
Email: Investors@progressivecareus.com

Progressive Care Inc. 

PharmCo, LLC 

Progressive Care Reports Full Year 2021 Financial Results Highlighted by $38.9 Million in Revenue

BY GlobeNewswire
— 11:16 AM ET 03/29/2022

Progressive Care Gains SEC Reporting Status

See on website

Miami, FL – April 12, 2022 – Globe Newswire via NewMediaWire – Progressive Care, Inc. (OTCQB: RXMD) (the “Company”), a personalized healthcare services and technology provider, today announced that, effective April 11, 2022, its Registration Statement on Form 10 filed with the U.S. Securities and Exchange (the “SEC”) to register its shares of common stock under Section 12(g) of the Securities Exchange Act of 1934 (the “Exchange Act”) became automatically effective.

The effective Form 10 obligates the Company to file Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act. In addition, management and certain shareholders are subject to the beneficial ownership reporting requirements of Section 13 and 16 of the Exchange Act.

Alan Jay Weisberg, Chairman and Chief Executive Officer of the Company said, “For me, it was always important to have the Company become fully reporting with the SEC. I know how critical it is for individual and institutional investors to have the Company file its financial reports with the SEC as it provides a higher level of confidence in the information reported by the Company and a superior level of transparency. I believe that the Company’s compliance with the Exchange Act will ultimately help drive shareholder value and enable us to access higher quality institutional capital. We remain committed to strong corporate governance and steadfast in pursuit of our journey to Nasdaq.”

To view the Form 10 filling, please click:


Key Financial Highlights for Year Ended December 31, 2021

• Revenue at $38.9 million

- COVID-19 testing revenue of approximately $4.3 million

- ClearMetrX TPA and pharmacy dispensing revenue related to 340B earned $2.8 million on total billings of $19 million

• Gross margin increased to 26% in 2021, from 23% in 2020

• EBITDA increased to $167,000 in 2021 from $7,000 in 2020

• Cash balance of $1.4 million as of December 31, 2021

Business Highlights for the Year Ended December 31, 2021

• Re-implemented upgraded pharmacy software system

• Expanded COVID-19 business into corporate-focused services and institutional clients

• Strengthened reputation in the 340B sector by adding eight new contracts

• Filed initial S-1 registration statement

• Submitted application for uplisting to Nasdaq

Q4 2021 Reflected a Positive Bounce Back in Business

• Increase of 10% in prescription revenue to $8.9 million in the fourth quarter of 2021, from $8.1 million in the third quarter of 2021

• Increase of 8% in prescriptions filled to 114,000 in the fourth quarter of 2021, from 106,000 in the third quarter of 2021



                   Touchpoint RX Team                                                        PharmCo Pharmacy Team

PharmCo Rx Pharmacy is a full-service pharmacy that is unlike any other pharmacy in South Florida. We provide each individual patient with a dedicated, highly qualified team to ensure that the respective needs of all our patients are met quickly and affordably. We are completely dedicated to serving our communities at all times. We proudly support Empower “U¨, PRIDE, Care Resources and many other charitable organizations throughout South Florida. The PharmCo team supports organizations of all religions and faiths, working to bring supplies, food, education and information to all people in need. PharmCo is pleased to sponsor health fairs and local outreach programs in all communities throughout South Florida. 

  •                                                                                                                                                                                                   Business Description
Progressive Care, Inc., through its subsidiary, PharmCo, LLC, engages in the distribution of pharmaceuticals. PharmCo also provides related pharmacy consulting, and durable medical equipment and accessories to retail and long term care customers, such as skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors' offices, and clinics. In addition, it offers purchasing, repackaging, and dispensing of prescription and non-prescription pharmaceutical products for long term care customers. PharmCo utilizes a unit-of-dose packaging system as opposed to traditional vials used for its retail customers. Further, it provides computerized maintenance of patient prescription histories, third party billing, and consultant pharmacist services. PharmCo's consulting services primarily consist of evaluation of monthly patient drug therapy and monitoring the institution's drug distribution system. It also offers durable medical equipment in Florida. In addition, PharmCo operates as a retail pharmacy and offers traditional pharmacy services to its retail customers, as well as free home delivery twice a day. Further, it offers brand name products customary in retail drug stores, nutritional supplements, and community based products. The company was formerly known as PharmCo Corp. and changed its name in October 2010. Progressive Care, Inc. is headquartered in North Miami Beach, Florida.
        PharmCo is a provider of prescription pharmaceuticals, specializing in anti-retroviral patient management and durable medical equipment. The company also provides long-term care solutions
to skilled nursing facilities (SNFs), assisted living facilities (ALFs), retirement centers and communities, doctors’ offices and clinics.
Advances in HIV/AIDS treatment has greatly increased the ability of those suffering from the disease to manage their symptoms and live longer, healthier lives. Effective management of the disease begins with taking the right medications with the right dose at the right times. For those in the HIV/AIDS community, adhering to the very strict dietary and medicinal requirements can be extremely difficult. Normal activities are often interrupted and sometimes prevented by the struggle to be in compliance.
PharmCo wants to ease this burden on those impacted by this life altering disease. We aim to make compliance with prescription regiments as easy as possible. By understanding the sensitive nature of HIV/AIDS and the needs of those afflicted, PharmCo provides the following services to patients with these special needs:
1. Confidential packaging
2. Packaging tailored to suit a patient's individual life style
3. Free delivery from a variety of sources including PharmCo's proprietary delivery fleet
4. A staff that is well trained in acute illnesses, who understands the patient's needs and
5. 24 hour emergency support
6. Timely availability of specialty medications due to our extensive inventory
7. Access to newly developed medications

PharmCo is a fully accredited DME supplier. In November 2010, as part of Medicare's competitive bidding, PharmCo was awarded a three year contract to supply hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories in South Florida. PharmCo carries an extensive inventory of equipment and accessories with most special requests being honored with same day or next day delivery. The company offers both sales and rentals with size, color, style, and brand options available on the majority of products. Most importantly, the staff is knowledgeable, helpful and dedicated to providing superior customer service.
PharmCo offers home service and maintenance, defective product replacements, and free home installation and instruction.
PharmCo's institutional clients have come to depend on the company's proven accuracy, dispensing methods, and immediate response time. With PharmCo compliance and efficiency assistance, long term care institutions are able to provide the highest level of continued care to their patients. PharmCo provides purchasing, repackaging and dispensing of both prescription and non-prescription pharmaceutical products. PharmCo utilizes a unit-of-dose packaging system as opposed to traditional vials used for its retail customers. This method of distribution improves control and patient compliance with recommended drug therapy by increasing the timeliness and accuracy of medication dispensing. PharmCo also provides computerized maintenance of patient prescription histories, third party billing and consultant pharmacist services. Its consulting services consist primarily of evaluation of monthly patient drug therapy and monitoring the institution’s drug distribution system.
Long term care institutions can count on PharmCo for the following services:
     1. On time, same day deliveries available twice a day with 24 hour emergency support
     2. Language assistance in English, Spanish, French, Creole, Portuguese, Russian, and Hebrew
     3. Unit-dose packaging options tailored the facility's needs
     4. Prescription data accuracy
     5. Extensive medication and DME inventory
     6. Access to OTC medications, nutritional products and personal hygiene items
     7. Provision and review of medication carts
     8. Monthly pharmacy consultations- drug interactions, redundant therapies, side effects, etc.
     9. Compliance updates and consultations
   10. Staff Training
   11. Exceptional customer service.


901 N. Miami Beach Blvd. Suite 1, 2, North Miami Beach, FL 33162
Toll Free: 888-919-7411 Phone: 305-919-7399 Fax: 305-919-7424
Monday- Thursday          8:30 AM - 6:30 PM
Friday                              8:30 AM - 6:00 PM
Saturday                        11:00 AM - 4:00 PM

PharmCo currently services: Miami-Dade, Broward, Palm Beach, Martin, and St. Lucie Counties.
PharmCo believes its competitive advantage is to provide superior service to our customers. As a pharmacy that caters to those patients with specialty and long term health care needs, we strive to go above and beyond to give our customers the attention and care they deserve.

Our staff is specially trained in the care and management of patients with acute illnesses and HIV/AIDS. We ensure packaging that meets our customers' privacy needs and options to suit their individual life styles. We carry an extensive inventory of medications including some of the latest treatments for acute illnesses direct from manufacturers.

PharmCo takes a personal approach to customer service by providing personal attention to the doctors, clinics, LTC facilities and others who use our products and services to provide quality care for their patients. For example, on a monthly basis a PharmCo representative will consult with a facility or clinic to review drug interactions, eliminate redundancies in therapies, provide medication dispensing training, and provide updates on new regulations. PharmCo’s institutional clients have come to rely on our proven accuracy, dispensing methods and immediate response time to allow continuation of care for their patients.

For all of our customers, we facilitate a strong line of communication between their doctors, insurance providers, and care givers. Members of our diverse, multilingual staff are on hand to assist with prior authorizations and refills.Our staff often contacts insurance providers on behalf of a customer to determine coverage and help them navigate other financial assistance options. We offer free delivery to all of our customers with no minimum purchase.


The following photo is a street view screen shot from Google on December 15, 2015
(click the image for full view)

The following images are recent photos after makeover of storefront, processing and office areas in Autumn 2015
The following pics contributed by RXMD shareholder on November 13, 2015
(click the images for complete panoramic views)

Images Of New Work Stations (Aug 2016) 
Caught some images after popping by this month of the new work stations they just installed.  Much larger work area to accomodate more people!
$RXMD recent news/filings

Progressive Care Reports Full Year 2021 Financial Results Highlighted by $38.9 Million in Revenue

GLOBENEWSWIRE – 11:16 AM ET 03/29/2022

Progressive Care Strengthens Management Team with Industry Experts



Link: http://www.otcmarkets.com/stock/RXMD/company-info
Ticker: $RXMD
OTC Market Place: OTCQB
CIK code: 0001402945
Company name: Progressive Care, Inc.
Company website: http://www.progressivecareus.com
Incorporated In: DE, USA

$RXMD extra dd links

After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=RXMD+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=RXMD+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=RXMD+Industry

Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/news - http://finance.yahoo.com/q/h?s=RXMD+Headlines

Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/RXMD/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=RXMD+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/RXMD
DTCC (dtcc.com): http://search2.dtcc.com/?q=Progressive+Care%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Progressive+Care%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Progressive+Care%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): "" rel="nofollow" target="_blank">; rel="nofollow" target="_blank">http://whois.domaintools.com/http://www.progressivecareus.com
Alexa (alexa.com): "" rel="nofollow" target="_blank">; rel="nofollow" target="_blank">http://www.alexa.com/siteinfo/http://www.progressivecareus.com#
Corporate website internet archive (archive.org): "" rel="nofollow" target="_blank">; rel="nofollow" target="_blank">http://web.archive.org/web/*/http://www.progressivecareus.com

Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/RXMD
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001402945&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=RXMD&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=RXMD
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=RXMD+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=RXMD+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=RXMD
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=RXMD
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=RXMD+Cash+Flow&annual

Major holdings (cnbc.com): http://data.cnbc.com/quotes/RXMD/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=RXMD+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/RXMD.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=RXMD
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/insider-transactions

PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/RXMD
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/RXMD
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/RXMD:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=RXMD
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=RXMD
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RXMD News: Progressive Care Reports First Quarter 2022 Financial Results Highlighted by 5% Growth in Revenue to $10.1 Million 05/17/2022 03:28:17 AM
RXMD News: Quarterly Report (10-q) 05/16/2022 01:22:26 PM
RXMD News: Progressive Care to Report First Quarter Financial Results on May 17, 2022 05/13/2022 04:06:57 AM
RXMD News: Progressive Care Gains Long Term Care Contracts with Major Payors 05/04/2022 03:20:05 AM
RXMD News: Progressive Care to Expand Into Rapidly Growing Remote Patient Monitoring Market 04/27/2022 03:12:15 AM
#181025  Sticky Note Join Carlos Rangel, Head of Digital Transformation at stockforce 05/22/22 03:33:53 PM
#171579  Sticky Note $RXMD Due Diligence - Verifiable Facts (8/23/2021) MrMike241 08/23/21 08:51:15 AM
#160605  Sticky Note $RXMD Due Diligence - Verifiable Facts MrMike241 02/24/21 08:49:19 AM
#120545  Sticky Note Funding Agreement Balance for Expansion and New Programs Jimmy Quick 06/25/19 04:22:20 PM
#181105   Im fully expecting some share bonuses for my HeyHoLetsGo 05/24/22 09:05:46 PM
#181104   Oh Snap! The Mrs Doubtfire of business plan. CaptHowdy 05/24/22 08:48:51 PM
#181103   The plan is Jay gets a tan then HeyHoLetsGo 05/24/22 08:39:14 PM
#181102   The better question here is where's Jay & CaptHowdy 05/24/22 08:19:37 PM
#181101   I like where your head is at. HeyHoLetsGo 05/24/22 04:00:08 PM
#181100   LOL!! gedi8 05/24/22 02:59:13 PM
#181099   Lol me neither JMCK6193 05/24/22 02:53:53 PM
#181098   I just read it. Thank you. Good thing gedi8 05/24/22 02:52:07 PM
#181097   I just sent you a link in telegram JMCK6193 05/24/22 02:48:18 PM
#181096   That's weird...I heard the opposite. gedi8 05/24/22 02:41:32 PM
#181095   We are seating in a golf fellas! It’s CaboVerde 05/24/22 01:23:22 PM
#181094   No Facebook page activity since May 4. HeyHoLetsGo 05/24/22 12:47:50 PM
#181092   I must admit, I didn’t click and read HeyHoLetsGo 05/24/22 12:15:46 PM
#181091   Damn monkeys are at it again transmitting diseases HeyHoLetsGo 05/24/22 12:14:57 PM
#181090   I just read the CDC report last night JMCK6193 05/24/22 11:51:06 AM
#181089   I’m out at .30 if that ever Happens … J1989 05/24/22 11:41:04 AM
#181088   But it's not sexually transmitted...go figure. gedi8 05/24/22 11:38:23 AM
#181087   Wishful thinking my friend. SELLS out weighing the CaptHowdy 05/24/22 11:35:46 AM
#181086   I would love them just let this run Chrism0000 05/24/22 11:28:28 AM
#181085   Wow... haven't heard that about the monkeypox yet, CaptHowdy 05/24/22 11:28:12 AM
#181084   It apparently is spreading quickly in the gay HeyHoLetsGo 05/24/22 11:22:25 AM
#181083   LOL .... how long until Public Relations jumps CaptHowdy 05/24/22 10:33:38 AM
#181082   Hey ho something something HeyHoLetsGo 05/24/22 09:15:20 AM
#181081   Not when the market is trading like it gedi8 05/23/22 07:54:05 PM
#181080   I AGREE Stocked55 05/23/22 06:32:10 PM
#181079   We need it … J1989 05/23/22 05:28:12 PM
#181078   I don't understand, that didn't change. 05 was MrMike241 05/23/22 05:26:36 PM
#181077   Lol wow it’s gets even better what a J1989 05/23/22 05:17:11 PM
#181076   What Armen said was that he isn't interested MrMike241 05/23/22 05:12:03 PM
#181075   Wow, I disagree with so much of that MrMike241 05/23/22 04:58:57 PM
#181074   Well said. Thanks for posting! MrMike241 05/23/22 04:56:06 PM
#181073   So then how are they going to up-list? J1989 05/23/22 04:13:52 PM
#181072   Did the 2021 run not happen?? Remember, price TrackDude 05/23/22 04:11:27 PM
#181071   I'm just not going to go negative. RoyalStrider 05/23/22 04:08:26 PM
#181070   You know what nvm good luck to you J1989 05/23/22 03:57:07 PM
#181069   So your happy with this downtrend for last J1989 05/23/22 03:54:20 PM
#181068   Went up because they have extended the due gedi8 05/23/22 03:50:02 PM
#181067   2016 RoyalStrider 05/23/22 03:47:29 PM
#181066   Out of curiosity, how long have you been Truth022809 05/23/22 03:46:51 PM
#181065   Not in denial, so I guess I'm bonkers! RoyalStrider 05/23/22 03:43:58 PM
#181064   Anyone saying this is looking good is bonkers J1989 05/23/22 03:37:10 PM
#181063   What about the iliad note, it went up nudie 05/23/22 03:30:20 PM
#181062   Agreed. 4 month down trend is far from reassuring. CaptHowdy 05/23/22 03:11:07 PM
#181061   Wish everyone thought so too … odd that J1989 05/23/22 02:59:25 PM
#181060   Some, like myself, have too much money invested Yooperman 05/23/22 02:56:37 PM
#181058   Making fun ??? Never said anything about management J1989 05/23/22 02:41:15 PM
#181057   Fine if you can see where the company RoyalStrider 05/23/22 02:39:04 PM
#181056   Fine for investors ???? We’re at a 52 J1989 05/23/22 02:37:37 PM
#181055   BINGO!! Ain't that the truth (no pun intended) CaptHowdy 05/23/22 01:33:02 PM
#181054   Yes that was my point, seems like they Truth022809 05/23/22 01:20:06 PM
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