RXMD - Progressive Care Inc. Reports 47% Increase in Prescriptions Filled During July 2018
BY GlobeNewswire
— 8:00 AM ET 08/21/2018
MIAMI, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
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) , a personalized healthcare services and technology company, today announced further growth year-over-year in both revenue and number of prescriptions filled for July 2018. July brought a total of $1.887 million in net revenue, an increase of 10.5% from last year in the same month, and a 47% increase in prescriptions filled over the same month last year, totaling approximately 26,777 prescriptions.
Progressive Care’s wholly owned subsidiary PharmCo, LLC has seen a 28.46% increase in prescriptions filled in July over the same month last year, totaling approximately 23,390 prescriptions.
The company’s Touchpoint Pharmacy has seen a 15.5% increase in prescriptions filled over the same month last year, totaling approximately 3,387 prescriptions, and a 35% increase in revenue, totaling approximately $138,000. This growth is a result of Progressive Care’s increased management involvement following the completed acquisition of the pharmacy in early July of this year.
“Progressive Care’s strong July sales and prescription numbers are a result of our dedicated commitment to providing patients a full range of personalized medication therapies,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. ( RXMD
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) “We are proud that in just the first month of having Touchpoint Pharmacy as part of our offering, we were able to see an increase in both revenue and prescriptions filled at that location. We anticipate that the new pharmacy will greatly contribute to our ongoing expansion success in the next 12 months.”
The release of July 2018 sales figures follows Progressive Care’s recently released Q2 2018 financial results, where the company reported its largest six-month revenue period in company history and the beginning of its uplisting process to one of the national exchanges with the start of registering with SEC.
Earlier this month, the company also announced that it had paid off its convertible note to Chicago Venture Partners through an issuance of common stock. The issuance of 1,974,279 shares of Progressive Care ( RXMD
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) stock on August 8, 2018, brought the company to a balance of zero.
