Progressive Care Inc (fka RXMD)

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Progressive Care Reports 20% Increase in Year over Year Prescriptions Filled During March 2018
BY GlobeNewswire
— 8:15 AM ET 04/13/2018
MIAMI, April 13, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
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) , a healthcare services and technology company, announced increased prescriptions filled and revenue for March 2018.

PharmCo, LLC filled over 22,800 prescriptions during the month of March, generating nearly $1.9 million in net revenues. Prescriptions filled and revenues increased by 20% and 5% respectively compared to the same month last year. Revenues and prescription counts continue to increase as the Company promotes its proactive patient engagement model to doctor’s offices and clinics keen to lower healthcare costs and provide quality service to their patients. The company also filled over $470,000 worth of prescriptions on behalf of 340B entities (not included in Net Revenues) in February, generating fees to the pharmacy of approximately $20,000 which is over a 200% increase over the same month last year.

The Company is proceeding with its acquisition of Touchpoint Rx, located in Palm Beach County. The Company has begun the process of filing applications and notifying relevant regulatory agencies the results of which will consummate the closing. In the interim, PharmCo, LLC is facilitating the management of the Touchpoint and initiated transition processes for smooth workflow and the introduction of convenience packaging to the South Florida retail market.

“This has been truly an exciting quarter,” stated S. Parikh Mars, CEO. "We are well on our way to having our second location. Our services will be greatly improved by addition of automated convenience packaging options for retail patients. We have a number of other initiatives we are pushing forward on and feel that we are executing well.”

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