Progressive Care Beats Expectations with over $18 Million in 2016 Revenues

Progressive Care, Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities, announces record breaking 2016.
PharmCo closed out 2016 with revenues of $1.7 million and 18,000 prescriptions filled during the month of December. This was a 20% and 6% increase respectively over the same period last year. The Company’s strong December brought annual revenues to over $18 million on approximately 215,000 prescriptions filled in the pharmacy, which is a 34% and 20% increase respectively over 2015. Sales performance outpaced annual expectations by approximately $2 million.
“We could not have asked for a better 2016,” stated S. Parikh Mars, CEO. “We set ambitious goals at the beginning of the year and always believed that we could accomplish them. Our sales represent the success of our pharmacy model and what we believe a pharmacy should be in the new healthcare climate.”
About Progressive Care
Progressive Care, Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.