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Created: 01/09/2011 08:48:52 PM - Followers: 756 - Board type: Free - Posts Today: 13

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)

Phone: 305-919-7399

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



Ticker: $RXMD
OTC Market Place: OTCQB
CIK code: 0001402945
Company name: Progressive Care, Inc.
Company website:
Incorporated In: DE, USA

$RXMD extra dd links

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The following quotes from the S-1 are interesting. MrMike241 06/23/2022 01:41:50 AM
Join Carlos Rangel, Head of Digital Transformation at stockforce 05/22/2022 07:33:53 PM
$RXMD Due Diligence - Verifiable Facts MrMike241 02/24/2021 01:49:19 PM
Funding Agreement Balance for Expansion and New Programs Jimmy Quick 06/25/2019 08:22:20 PM
Good one lol unless there is huge merger J1989 06/29/2022 12:44:11 PM
RE: PM inquiry; ASG... 9.41% CaptHowdy 06/29/2022 11:17:00 AM
The Problem with RXMD... DCorleone 06/29/2022 10:51:36 AM
Just throw us a BONE!!!!!!!!! and let this Chrism0000 06/29/2022 10:47:22 AM
RXMD PPS is only at the hands of DCorleone 06/29/2022 10:02:08 AM
Sounds like a Good idea HeyHo, I offroad 06/29/2022 10:00:59 AM
May be more lucrative for us to start CaptHowdy 06/29/2022 09:57:56 AM
Yes captain jokes and crap talking aside, this HeyHoLetsGo 06/29/2022 09:38:14 AM
Agreed. That's why I sold off just about CaptHowdy 06/29/2022 08:45:32 AM
Tried to tell y'all. RXMD is a 40 DCorleone 06/29/2022 08:42:00 AM
lol..... offroad 06/29/2022 08:19:12 AM
How time flies. Half way through "another" year, HeyHoLetsGo 06/29/2022 08:16:16 AM
CEO Mars "TALKED" about SEC reporting since 2016... DCorleone 06/28/2022 01:24:51 PM
This is definitely trading like a solid nasdaq J1989 06/28/2022 01:16:56 PM
That's true about Mars. I loved Mars! She MrMike241 06/28/2022 12:21:01 PM
Here in Canada you can't turn on the meddoyeddo 06/28/2022 12:09:07 PM
LMFAO @ Better suited as the "CEO of CaptHowdy 06/28/2022 11:06:31 AM
Why would any one want to buy when J1989 06/28/2022 10:48:33 AM
Wow, still zero volume. Yooperman 06/28/2022 10:45:09 AM
Mars may not have walked the line but Four by Two 06/28/2022 10:14:33 AM
I don't think she walked the line. I MrMike241 06/28/2022 09:48:57 AM
I am personally okay without Former CEO Mars DCorleone 06/28/2022 09:41:37 AM
Sure do miss the Ms. Mars days. No Wackamole 06/28/2022 09:34:03 AM
GNBT was quiet period from last year, during colorfullife88200 06/28/2022 12:41:17 AM
YOKED in my opinion lol Fat-man 06/27/2022 11:30:26 PM
They’re probably tired of answering the question. They TrackDude 06/27/2022 11:08:03 PM
Because nothing is happening. Maybe they feel Cabinmoney 06/27/2022 09:14:34 PM
Yea I think you nailed it. Cabinmoney 06/27/2022 09:11:13 PM
They just have nothing to say… Truth022809 06/27/2022 09:09:34 PM
That’s because the quiet period is self imposed. Quindien 06/27/2022 09:07:04 PM
They won’t even confirm if a quiet period Cabinmoney 06/27/2022 08:52:37 PM
The twos are giving me the blues. offroad 06/27/2022 05:27:57 PM
Wake me up when the quiet period is over: Four by Two 06/27/2022 03:39:51 PM
Yea me too wish I didn’t buy this J1989 06/27/2022 01:30:47 PM
Yup J1989 06/27/2022 12:58:37 PM
Yup. One whole trade today.... What's the heck CaptHowdy 06/27/2022 12:58:20 PM
Literally zero interest …. Way to to go J1989 06/27/2022 12:44:32 PM
I agree Fats MULN daily volume 57M vs Four by Two 06/27/2022 08:49:04 AM
Mullen is where the $$ are I'm Fat-man 06/27/2022 01:03:08 AM
Got into rxmd years ago, hoping to pay HeyHoLetsGo 06/26/2022 09:52:57 PM
Same here JMCK6193 06/26/2022 09:00:02 PM
Thanks Gedi HeyHoLetsGo 06/25/2022 12:48:30 AM
You too Turbo. gedi8 06/24/2022 09:51:56 PM
Understood. Whatever works for you my friend. gedi8 06/24/2022 09:51:04 PM
Everyone have a nice weekend. I hope things HeyHoLetsGo 06/24/2022 07:46:09 PM
If you need the Trifecta I'll call them. Jagman5 06/24/2022 07:11:02 PM
if it comes down i will buy more dragon8 06/24/2022 06:08:38 PM
And buyers, a new CEO, and BOD! Z-man 811 06/24/2022 05:56:17 PM
That's true, and surprising to me. I'd be MrMike241 06/24/2022 04:34:36 PM
No one selling into your 411,155 Share Bid gedi8 06/24/2022 03:50:28 PM
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