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RXMD - Progressive Care Doubles March Sales, Successfully Utilizing Its Market Leading Contactless RX Delivery Due to Covid-19 Pandemic
BY GlobeNewswire
— 7:00 AM ET 04/15/2020
MIAMI, FL, April 15, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Progressive Care Inc. (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to announce operational performance data for March 2020, which featured breakthrough growth in total sales and a new Company record in total number of prescriptions filled on sharp market share gains:

· Consolidated monthly gross sales across all locations totaled $3.6 million, representing year-over-year growth of 105% compared to March 2019,

· Prescriptions filled during the month came in at 47,467, representing year-over-year growth of 76% compared to March 2019,

· Prescriptions filled hit a new all-time monthly record for the Company in March,

· “Ready, Set, PrEP” Program for HIV prevention launched,

· Seeing continued growth in services targeting non-profit organizations,

· Will file with SEC for fully reporting status.

“Our market-leading contactless delivery experience has positioned Progressive Care ( RXMD
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) to truly thrive in this uniquely challenging context, and that really showed through in March,” commented S. Parikh Mars, CEO of Progressive Care ( RXMD
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). “Much of this growth is the result of patients and physicians choosing our pharmacies over grocery store and chain pharmacies to better protect themselves from exposure during this time. We have worked steadily to deliver prescriptions securely while adhering to contactless protocols during the pandemic.”

Management notes that March was a record-breaking month driven largely by heavy incentivization at the prescriber level to recommend pharmacy services that minimize the risk of patient infections. Progressive Care ( RXMD
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) has earned a reputation in the physician community for safeguarding the health and wellbeing of patients.

The Company believes that this explosive wave of growth is best understood as a market share phenomenon, which is a dynamic that may continue to define results over the intermediate-term. The Company expects continued influxes of new patients over the next 30 days as patients are encouraged to stay at home. Furthermore, it does not expect added attrition of patients once the current crisis conditions wain as patients of the Company have high satisfaction rates.

“We have also launched our Ready, Set, PrEP Program for HIV prevention and we have worked steadily to add new relationships with not-for-profit clinics,” continued Mars. “We expect to have several of these clinics actively engaged with this service in Q3.”

For more information about Progressive Care ( RXMD
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), please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc. ( RXMD
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)

https://www.facebook.com/ProgressiveCareUS/

https://twitter.com/ProgressCareUS

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