SOURCE: Progressive Care Inc.

Progressive Care Inc.

January 05, 2015 09:00 ET

Progressive Care Inc.: PharmCo Fills Record Breaking Number of Prescriptions in 2014

MIAMI, FL--(Marketwired - Jan 5, 2015) - Progressive Care, Inc. (OTC PINK: RXMD) ("Progressive" or the "Company"), a South Florida provider of prescription pharmaceuticals specializing in health practice risk management, the sale of anti-retroviral medications and related medication therapy management, the sale and rental of durable medical equipment ("DME") and the supply of prescription medications to long term care facilities, announces record setting 2014.

  • Prescriptions filled for the most recent month rose 35% to over 14,000
  • Q4 marketing push and transition to 90-day supplies drive strong sales
  • December 2014 marks the 6th record setting month in 2014

Progressive Care reported that PharmCo's December 2014 sales increased by approximately 35% over December 2013. Over 14,000 prescriptions were filled in the month, of which over 40% were new. This represents the 6th month in 2014 that PharmCo achieved record setting sales results.

Through the first nine months of 2014, PharmCo filled nearly as many prescriptions as it did in the full year of 2013. Through December, PharmCo's prescription counts have increased to over 140,000, a 33% increase over last year.

"PharmCo has rebounded to achieve tremendous growth in 2014," said Shital Parikh Mars, Chief Operating Officer. "The south Florida community continues to support the company which has pushed the sales momentum to new heights."

Increases in sales have been driven by PharmCo's marketing efforts with clinics and doctor's offices as well as the introduction of new services like risk management, adherence monitoring, 90-day supplies and non-sterile compounding.

Progressive Care is poised to continue breaking records and reach new levels of success in 2015.

About Progressive Care (RXMD)
Progressive Care Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC is a South Florida provider of prescription pharmaceuticals specializing in prescription pharmaceuticals specializing in health practice risk management, the sale of anti-retroviral medications and related medication therapy management, the sale and rental of durable medical equipment ("DME") and the supply of prescription medications to long term care facilities.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Progressive Care or its business continues to grow and whether any additional financing can be secured by Progressive Care and whether such additional financing will be adequate to meet the Company's objectives. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Progressive Care and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Progressive Care's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Progressive Care's ability to successfully expand in existing markets and enter new markets; (iii) Progressive Care's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (iv) unanticipated operating costs, transaction costs and actual or contingent liabilities; (v) the ability to attract and retain qualified employees and key personnel; (vi) adverse effects of increased competition on Progressive Care's business; (vii) changes in government licensing and regulation that may adversely affect Progressive Care's business; (viii) the risk that changes in consumer behavior could adversely affect Progressive Care's business; (ix) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report contained in our Condensed Interim Consolidated Financial Statements for the Years Ended December 31, 2013 and 2012 and the subsequently filed quarterly reports in our Consolidated Financial Statements for the Quarter Ended March 31; June 30; and September 30, 2014 (Unaudited) filed with OTC Disclosure and News Service and current reports on Form 8-K filed by Progressive Care with the Securities and Exchange Commission. Progressive Care anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Progressive Care assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

Contact Information

  • Shital Parikh Mars
    Chief Operating Officer
    Progressive Care, Inc.
    Email Contact