SOURCE: Progressive Care Inc

Progressive Care Inc

November 28, 2016 09:31 ET

Progressive Care Increases Revenue by 33% to $1.6 Million during October 2016

MIAMI, FL--(Marketwired - November 28, 2016) - 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 robust October 2016 sales.

PharmCo continues to deliver year over year growth, filling over 18,600 prescriptions and garnering revenues of $1.6 million for the month, which is a 17% and 33% increase over the October 2015 respectively. Through the first 10 months of 2016, the Company has surpassed the total revenue generated in 2015 by over $1 million. At the outset of the year, the Company set an aggressive 20% revenue growth target of $16 million annual revenues. Today, PharmCo is on pace to reach over $17.5 million in annual revenues. Increasing compounding sales are delivering stronger than expected results for the pharmacy.

"This is a really exciting start to the final quarter of the year," stated S. Parikh Mars, CEO. "The Script Pro automation system has been installed, Smart Medical Alliance is already generating revenue and signing new clients, and demand for the PharmCo is continuing to grow. We are set to beat all of our financial goals for the year and deliver outstanding progress to our shareholders."

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.

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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.