SOURCE: Progressive Care Inc

Progressive Care Inc

May 10, 2016 08:00 ET

Progressive Care Posts Strong April Results With $1.4 Million in Revenues

MIAMI, FL--(Marketwired - May 10, 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 strong performance for the month of April.

PharmCo generated solid gross revenues to start the second quarter of 2016. During the month of April, the pharmacy filled just over 16,500 prescriptions resulting in approximately $1.4 million in revenues. Prescriptions filled increased nearly 20% and revenues increased over 35% when compared with the same month last year. Current sales drivers include compounding and expanded marketing efforts to new clinics and facilities.

"This is a great start to the quarter," stated S. Parikh Mars, CEO. "We are maintaining our growth objectives and seeing improvements in our MTM and 340B revenue lines. We accomplished several key goals in April and are excited to build upon these successes in the coming months."

Common Shares Issued and Outstanding:

As of May 10, 2016 the number shares of common stock issued and outstanding stood at 339,545,107 shares. This amount is net of the number of shares owned by PharmCo, LLC of 1,718,000.

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.