Progressive Care Inc (fka RXMD)

[Jimmy Quick]

How's that for RXMD Action?
Only thing they are doing is operating a Pharmacy ranked in the top 10% of the nation for performance with the utmost Class.

BYE NOW

Progressive Care Inc. Doubles Revenue: Reports $3.3 Million for June 2019
Press Release | 07/17/2019
MIAMI, July 17, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced record revenues of $3.3 Million for June 2019 and an 80% increase in prescriptions filled at nearly 46,000 total.

June 2019 represents the first month of consolidated revenue for Progressive Care, which includes 4 locations in Florida. The Company recorded a 100% increase in gross revenues at $3.3 million exclusive of PBM fees and nearly 46,000 prescriptions filled. Prescriptions filled have grown steadily for all locations, especially PharmCo Palm Beach which increased by 38% and yielded a 165% increase in revenues.

“This was the first month of having 4 locations under our umbrella,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “We are more than pleased with the performance last month as it exceeded our expectations. Yet, we are focused on the potential for growth and are working on major big picture goals throughout the rest of the year.”

Progressive Care Inc Discusses Acquisition, Revenue Drivers, and What’s Ahead for 2019 in a New Audio Interview with SmallCapVoice.com
Press Release | 07/10/2019

AUSTIN, Texas, July 10, 2019 (GLOBE NEWSWIRE) -- SmallCapVoice.com, Inc. and Progressive Care Inc. (OTC.QB: RXMD), a personalized healthcare services and technology company, announced today that the Company is featured in a new audio interview at SmallCapVoice.com, Inc.

The interview features an in-depth look at RXMD’s completed acquisition of Family Physicians RX, Inc., dba Five Star RX, a Florida corporation (FSRX) on June 1, 2019, which effectively doubles the size of Progressive Care Inc. In addition, the interview that goes into the current Company news and what is next for Progressive Care Inc. The interview can be heard at https://www.smallcapvoice.com/7-9-19-smallcapvoice-interview-with-progressive-care-inc-rxmd/.

“Our Company’s reach and size have effectively doubled in size with the completion of this acquisition. We go from two locations to four, 75 employees to approximately 125, 28,000 prescriptions to nearly 50,000. Our delivery area now extends to Orange and Brevard County with capability to reach Hillsborough County on the west coast of Florida. With the new locations on board, we will leverage our common strengths and reputation to continue to expand,” said S. Parikh Mars, CEO of Progressive Care. “We have accomplished many things in the last year such as buying our first building and completing 2 acquisitions, and I believe the best is still ahead of us.”

Progressive Care Inc. Announces Steady Sales Growth in May
Press Release | 06/25/2019
MIAMI, June 25, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and number of prescriptions filled for May 2019 and a record month for PharmCo revenue in Palm Beach, which increased at 98%.

May 2019 sales have remained solid after April’s record-breaking month. The Company filled nearly 28,500 prescriptions between the 2 locations, an increase of 13% over the same month last year. Progressive Care recorded over $1.8 million in net revenues exclusive of PBM fees.

“The Company is recording year-over-year growth despite drastic reimbursement contraction and aggressive PBM fees,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “We are confident that our efforts to build momentum and market penetration is producing the desired results. We expect to leverage our capabilities and the positive growth trajectory to accelerate our progress once the 2 new locations are properly integrated.”

Progressive Care Inc. Completes Acquisition of Family Physicians Rx
Press Release | 06/04/2019
MIAMI, June 04, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, announced today that it has closed on the acquisition of Family Physicians RX, Inc., dba Five Star RX and Florida corporation (FSRX) on June 1, 2019.

On June 1, 2019, FSRX became the wholly owned subsidiary of Progressive Care Inc. The Company conducted auditor observed inventory counts on June 2nd and June 3rd for the location in Davie and Orlando, FL respectively. The next phase of the process includes formal change of ownership notifications to all major insurance payors, vendors, and certain agencies that require post-closing documentation. Upon full update of all systems with new ownership information, the Company will release the second tranche of funds from escrow.

The consummation of the acquisition allows for the Company to begin consolidating financial results from FSRX occurring after June 1st into disclosure reports and news releases. In the month prior to closing, FSRX filled approximately 18,000 prescriptions servicing 7,500 patients. With the addition of the Davie, FL and Orlando locations, Progressive Care now boasts 4 physical pharmacy locations with 5 star performance ratings and nearly 125 employees from which to launch further expansion and sales growth.

On June 3, 2019 $1,000,000 of the $2.3 million held in escrow was released to the selling shareholders of FSRX. The Company will issue 10,000,000 shares of common stock pursuant to the terms of the purchase agreement, valued at $0.07 per share for a total purchase price of $3 million.

“This is our biggest accomplishment to date,” said S. Parikh Mars, CEO of Progressive Care. “Now that FSRX is part of the Progressive Care family of pharmacies, we can focus on getting to next level as an organization. I am honored to have this group of talented individuals join our team and to take our collective strength to bring about change and results in this industry.”

Progressive Care Inc. Announces April Sales & Record Breaking Month
Press Release | 05/21/2019
MIAMI, May 21, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and number of prescriptions filled for April 2019 and a record month for PharmCo revenue in Palm Beach, which increased at 100%.

In April, the company reported a total of $1.935 million in net revenue, a 17% increase from the same month last year, and a 30% increase in prescriptions filled during the same month last year, totaling nearly 28,725 prescriptions filled. Both PharmCo locations had 15% growth in prescription counts compared to April last year.

“Progressive Care’s April sales and prescription numbers are directly attributed to increased sales derived from marketing activities promoting risk management, medication adherence management, and superior pharmacy performance metrics to Physicians Practices and Management Services Organizations,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “We are confident that our company will continue to grow with more record-breaking months by providing our customers with top-quality healthcare management services.”

Progressive Care Inc. Issues 1st Quarter 2019 Quarterly Report Conference Call Highlights
Press Release | 05/16/2019
MIAMI, May 16, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today issued 1st Quarter 2019 Quarterly Report Conference Call highlights.

The Company announced nearly $5.2 million in net revenues, a 3% increase over 2018. Revenues net nearly $275,000 in PBM fees charged during the quarter, which is an 89% increase over 2018. Prescriptions filled increased 28% to 84,500 during 1st quarter 2019. The company also filled over $1.9 million worth of prescriptions (Not Included in Net Revenues) for 340B entities during the quarter, generating fees to the pharmacy of approximately $115,000 which is a 91% increase over the same period last year. The Company reported a net loss of approximately $750,000, which included nearly $300,000 of non-cash interest on notes payable and depreciation, $125,000 in increased PBM fees, inclusion of $120,000 of net losses from PharmCo 1002, and decreased gross margins on prescription services to 20%.

The Company updated the shareholders that the advanced notification period to Medicaid has elapsed as of May 12, 2019. The acquisition is on track for a hard close on June 1st, 2019 at which point FPRX, with its 2 cash flow positive Florida locations, will consolidate in the Company financial results which is projected to bring the Company to over $30 million in annual revenues for fiscal year 2019, add approximately $250,000 in net earnings, and 50 new employees under the Progressive Care umbrella. The Company will conduct an audited inventory count on the date of closing and begin releasing funds on June 3rd, 2019.

The Company announced plans to market current CBD brands and leverage the cash buying customer base to fortify against insurance rate compression and increase profitability. The Company is continuing to proceed on plans to produce an exclusive line of products that incorporates the Company’s brand and mission to further develop its core market base and healthcare capabilities.

“2019 is moving at an unprecedented pace,” said S. Parikh Mars, CEO of Progressive Care. “In a few short weeks, Progressive Care will double in size in almost every measurable way. We will not only be gaining sales, locations, or economies, but a wealth of talent that includes expertise in pharmaceutical logistics, operational management, and clinical awareness. We look forward to learning from this impressive group of individuals and believe that the combination of our two organizations will produce an unstoppable force.”