Replies to post #122167 on Progressive Care Inc (fka RXMD)

[TheSerb]

None of this is true.....Ms. Mars has stated this multiple times in PR's.

[gedi8]

Not going to happen.

[Turbomunkey]

Stockforce just informed us of his conversation with Armen and Armen stated there will be no RS. Good luck.

[TheSerb]

Progressive Care Inc. Completes Acquisition of Family Physicians Rx
BY GlobeNewswire
— 8:00 AM ET 06/04/2019
MIAMI, June 04, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
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) , 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. ( RXMD
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) 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 ( RXMD
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) 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 ( RXMD
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). “Now that FSRX is part of the Progressive Care ( RXMD
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) 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.”

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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)

[TheSerb]

Progressive Care Inc. Announces Steady Sales Growth in May
BY GlobeNewswire
— 8:00 AM ET 06/25/2019
MIAMI, June 25, 2019 (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 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 ( RXMD ) 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. ( RXMD
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) “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.”

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/

[TheSerb]

Progressive Care Inc. Doubles Revenue: Reports $3.3 Million for June 2019
BY GlobeNewswire
— 8:00 AM ET 07/17/2019
MIAMI, July 17, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
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) , 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 ( RXMD
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), 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. ( RXMD ) “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.”

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

Connect and stay in touch with us on social media:

Progressive Care Inc. ( RXMD
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)

[TheSerb]

Progressive Care Inc. Garners Coverage in Publicly Traded Podcasts
BY GlobeNewswire
— 8:00 AM ET 07/18/2019
MIAMI, July 18, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
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) , a personalized healthcare services and technology company, today announced that it has garnered media coverage in Publicly Traded Podcasts’s Health Highlights.

“I am proud to share the success of Progressive Care ( RXMD
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) with Publicly Traded Podcasts and their audience,” said S. Parikh Mars, CEO of Progressive Care Inc. ( RXMD
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) “As our company continues to grow, it is important to look back on our success on how we’ve gotten to where we are today. We are excited to see what the rest of 2019 brings us.”

In the podcast titled RXMD - Ms. Shital Mars , published July 11, 2019 on Publicly Traded Podcasts, Mars talks in detail about recent record-breaking sales in April, the acquisition of Family Physicians RX, and positioning the company for a solid finish to 2019. Mars says, “What we’ve really focused on is turning this company into a solid healthcare-driven enterprise that focuses on the future, focuses on technology, focuses on innovation and patient care. I think that has shown why we’ve been so successful over the last 3 or 4 years since I’ve been involved at the helm.”

In the article, Mars goes on to discuss what fueled the dynamic growth and record-breaking sales from April. “What comes out every year are what is called HEDIS scores. A lot of doctors get these performance ratings that tell them how well they’re performing within the pan and managing their patients’ outcomes. 40% of that performance score is tied to the performance of the pharmacy. So if a patient goes to the doctor and then never fills their prescription for chronic care conditions like diabetes, that doctor is going to underperform because the pharmacy is not filling those prescriptions. When these scores come out, they start recognizing that they have improvement that they need to make. A lot of that improvement centers on pharmaceutical care so they begin to look for the best pharmacies in their area…. When I say that we are a 5-star pharmacy, that means that we are proactive at working with the patient… We are constantly getting new prescriptions, constantly getting new patients, and constantly on-boarding new physicians who are looking for this level of care because it makes a difference for their practice and patients. So that’s really what fuels a lot of this growth.”

Mars goes on to discuss the acquisition of Family Physicians RX. “We have a number of accomplishments that have occurred over the last three years. The acquisition of Family Physicians RX is our biggest one, it's the one that I am most proud of. It's something that we have been preparing for many years. What it did for us was allow us to effectively double in size. They do about 18,000 prescriptions a month, so that brings us as a combined entity close to 50,000 prescriptions a month out of all of our stores. They do $1.4 million a month in net revenue so that brings us close to about $3 million a month in revenue. It took us from two locations to four. It brought us from South Florida now to Orlando.”

The recent media coverage comes after the company’s efforts to provide its network with more healthcare informational resources through PharmCo Pharmacy. Additional commentary from Progressive Care’s CEO about the company and industry as a whole can be found on the Progressive Care ( RXMD
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) blog and PharmCo blog.

For more immediate updates on the company’s media coverage, connect with Progressive Care ( RXMD
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) and PharmCo on social media:

Progressive Care Inc. ( RXMD
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https://www.facebook.com/ProgressiveCareUS/