MIAMI, Aug. 12, 2015 /PRNewswire/ -- In the last month of 2014, Progressive Care, Inc. (RXMD) through its subsidiary PharmCo, LLC, filled over 14,000 prescriptions as the number of prescriptions filled rose for a 6th straight month. During the three months ended June 30, 2015, prescriptions counts reached a record high of approximately 43,000 fills, which represents a year-over-year increase of 11%. Most recently on August 6, 2015, Progressive Care reported a net revenue increase of 18% year-over-year for the six months ended June 30, 2015 from approximately $5.40 million to approximately $6.40 million. This significant improvement in operating performance was a result of higher gross margins associated with compounded medications and a more efficient operational structure. Cash position has also improved with cash on hand increasing $282,486 from the beginning of the year.
Progressive Care, Inc. (RXMD) through its wholly-owned subsidiary, PharmCo, LLC, is a North Miami Beach, Florida based provider of prescription pharmaceuticals specializing in the sale of anti-retroviral medications and related patient care management, the sale and rental of durable medical equipment (DME) and the supply of prescription medications and DME to nursing homes and assisted living facilities. The Company also provides long term care solutions to skilled nursing facilities (SNFs), assisted living facilities (ALFs), retirement centers and communities, doctors' offices and clinics. The Company provides confidential prescription packaging that suits the individual patient's needs and lifestyle. PharmCo provides purchasing, repackaging and dispensing of both prescription and non-prescription pharmaceutical products.
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