Progressive Care Launches COVID-19 IgG/IgM Rapid Result Antibody Testing Program

MIAMI, FL, May 14, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is very pleased to announce that the Company has obtained the immediate capacity to market and distribute rapid-results antibody test kits (COVID-19 IgG/IgM) registered through the FDA under its Emergency Use Authorization (“EUA”) guidelines for conducting SARS-CoV-2 antibody presence and COVID-19 infection diagnosis testing. 

The COVID-19 Rapid Antibody Test Kits will be made available through our pharmacies and national e-commerce platform to healthcare providers for further administration to their patients. The antibody test kits are designed for use by a medical professional through the collection of a small fingertip blood sample, with results available within 15 minutes. A positive result indicates the need for an additional serological test to confirm.

“As major operations begin to reopen in our communities, experts believe diagnostic and antibody testing will be crucial in identifying vulnerabilities and creating safer and more productive public living conditions,” comments S. Parikh Mars, CEO of Progressive Care. “We believe it is imperative that we provide the public health resources necessary to stem the tide of this pandemic.”

Phase One economic reopening is currently underway in Florida, where Progressive Care is based. As businesses reopen, rapid results testing is widely considered to be an essential resource. Organizations and their employees consistently express a strong desire to know if they have been exposed to SARS-CoV-2 and therefore acquired antibodies for, and potential immunity to, the virus that causes the COVID-19 disease. Antibody testing is not designed as a diagnostic tool, but can be valuable in determining the prevalence of exposure and/or recovery within a community. Such information can help public health officials, community leaders, employers, and citizens make decisions about potential risk factors, containment, and mitigation strategies.

The Company is preparing to conduct a COVID-19 antibody case study in South Florida to help guide health preservation protocols and public discourse about the pandemic.

“We are truly grateful for this opportunity to help our community control the spread and flatten the curve as we shed further light on this virus and its confoundingly broad physiological effects and societal implications,” continued Mars. “We are excited to develop new and growing relationships with organizations and healthcare providers in our marketplace interested in partnering with us to deliver this powerful new solution.”

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About Progressive Care Inc.

Progressive Care Inc. (OTCQB: RXMD), through its subsidiaries, is a Florida technology and health services organization that provides 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 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 theSecurities 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 ProgressiveCare 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.

Investor Relations Contact:

Armen Karapetyan, ProgressiveCare

Senior Advisor Business Development

Public Relations Contact:

Carlos Rangel