Progressive Care Announces November 2020 Results, Reports Strong Prescriptions and Covid-19 Rapid Testing Sales
MIAMI, FL, Jan. 08, 2021 (GLOBE NEWSWIRE) -- via -- Progressive Care Inc. (OTCQB:RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to announce performance data for the month of November 2020.
• Consolidated gross sales across all locations during November 2020 totaled $3.4 million, representing a 6.3% year-over-year growth when compared with November 2019.
• Prescriptions filled during November came in at approximately 42,600, which was roughly flat (down less than 1%) on a year-over-year basis.
• 340B fees grew 94% in November on a year-over-year basis, to approximately $212,000.
• The Company booked approximately $160,000 in revenues related to Rapid Results COVID-19 Virus Testing in November, up 72% on a month-over-month basis.
“While this remains a challenging environment for our clients, patients and providers, we continue to execute at a high level, and we are grateful for the opportunity to provide value for our surrounding communities,” commented Alan Jay Weisberg, CEO and Chairman of Progressive Care. “Overall sales continued to demonstrate a robust growth trend, our testing and TPA services surged once again, and we look forward to further growth opportunities in the months and quarters ahead given our recent physical consolidation, our upcoming Orlando, Florida expansion, and the strong logistical foundations we have laid for both the launch of Covid-19 vaccine administration and further robust growth in our COVID-19 testing services.”
The Company has also recently completed a move into its new 11,000 sq ft pharmacy space in Hallandale Beach, Florida and plans to complete the move to its new 3,700 sq ft Orlando location before the end of January, which should drive important performance gains, advances in productivity, volume, and market reach due to the space and efficiency.
“Our expanded Orlando location represents a major upgrade,” added Weisberg. “In addition to driving gains in our access to the dynamic Orlando market, the move will allow us to build out our growing 340B business and dramatically expand our rapid results testing services.”
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About Progressive Care: Progressive Care Inc. (OTCQB: RXMD), through its subsidiaries, is a Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long-term care facilities, and health practice risk management.
Cautionary Disclosure Regarding Forward-Looking Statements: Forward-Looking 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. 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.
Public Relations Contact:
Carlos Rangel
