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| RXMD Announces Another Sales Milestone for February 2018 |
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 Hot Stock to Watch |
Company: Progressive Care Inc. (OTCQB: RXMD)
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Last:
Price: 0.1784
Change (%): + 0.0094 (5.56)
Volume: 6,728,150 |
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Progressive Care Reports 18% Increase in Year over Year Prescriptions Filled During February 2018
MIAMI, March 16, 2018 (GLOBE NEWSWIRE) - Progressive Care Inc. (OTCQB:RXMD), a healthcare services and technology company, announces strong sales for the month of February 2018.
PharmCo, LLC filled over 19,500 prescriptions during the month of February, generating nearly 1.45 million dollars in net revenues. Prescriptions filled increased by 18% compared to the same month last year. Revenues remained flat year over year. The company also filled over $450,000 worth of prescriptions (not included in Net Revenues) for 340B entities in February, generating fees to the pharmacy of approximately $20,000 which is nearly a 200 increase over the same month last year.
The Company is in the middle of what is commonly called “deductible season” where costly health care decisions are deferred until after deductibles are met for the year. During this period, typically the first quarter of the year, costly prescriptions therapies are less likely to be initiated or continued when compared to the rest of the year. This period typically affects compound sales and other specialty medications.
“This year has been busy and moving quickly,” stated S. Parikh Mars, CEO. “We are executing on a number of fronts to expand and diversify the company as a leader in the industry. The Company is gaining ground in prescription counts and sales and we are anticipating the release of our 2017 audited financial statements and completion of the due diligence process for our first acquisition to close out the quarter.”
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