Progressive Care Completes Move to New Facility, Begins Expansion Into Long-Term Care Pharmacy Market
Miami, FL – December 23, 2020 – Progressive Care Inc. (OTCQB:RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to announce that the Company has completed its move into its new 11,000 sq ft pharmacy space in Hallandale Beach, FL.
In addition to the cost savings, management believes the move will also drive advances in productivity, volume, and market reach due to the space and efficiency afforded by the Hallandale Beach location.
“The new location is positioned and designed to access the South Florida long-term care pharmacy marketplace across five of the highest LTC-concentration counties in the U.S. prescription market,” commented Alan Jay Weisberg, CEO and Chairman of Progressive Care “In addition to addressing the huge and growing need for prescription medications at long-term care facilities in this region, Progressive Care, through its new expanded location, is also committed to becoming a leader in the rapidly growing Infusion therapy market, a logistically advantageous expansion that stands to have a material and durable impact on both volume and margins in our core pharmacy business.”
According to a recent research report from Access Market Intelligence, the long-term care pharmacy market was nearly $17 billion in 2019 on more than 400 million prescriptions filled.
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