Progressive Care (OTCQB: RXMD), a personalized health care services and technology provider, today announced financial results for its third quarter ended Sept. 30, 2023. Among the highlights, the company reported record third quarter revenues of $12 .4 million, a 22% increase in comparison to the prior year period, driven primarily by strong growth at its PharmcoRx pharmacies. “We are thrilled with our third quarter results and the significant continued growth of Progressive Care, highlighted by strength in our pharmacy and 340B contract businesses. Our performance is a direct result of our commitment to improving outcomes for patients through medical adherence,” said Charles M. Fernandez, chairman and CEO of Progressive Care. “During a time when the broader pharmacy sector and the entire health care industry increasingly faces mounting pressures to improve care while reducing costs, our team continues to capitalize on the many growth opportunities in front of us including expanding our services for our existing patients and partnering with organizations that can provide us with the potential to reach large numbers of new customers.”
In addition, NextPlat (NASDAQ: NXPL, NXPLW), a global e-commerce provider, which consolidated the operations of its e-commerce business with the results of its health care operations, Progressive Care, today announced its financial results for the three months ended Sept. 30, 2023. “The third quarter of 2023 marks an inflection point for NextPlat as we report the consolidation of our global e-commerce and Progressive Care health care operations. As a unified business, our teams are focused on maximizing the value of each of its operations through the launch of new online storefronts for customers including OPKO Health into China’s multibillion-dollar marketplace on Alibaba’s Tmall Global, and the further expansion of Progressive Care’s services for both patients and providers,” said Charles M. Fernandez, executive chairman and CEO of NextPlat. “The intersection of technology, global e-commerce and health care creates tremendous opportunities for NextPlat. Our continued growth is supported by strong, debt-free balance sheets with sufficient cash to invest both internally and in acquisitions that can quickly add scale to our platform. It is through these investments that we intend to create greater synergies in our business as we seek to unlock valuable new benefits for our customers, partners, patients, and shareholders.”
About Progressive Care Inc.
Progressive Care, through its subsidiaries, is a Florida health services organization and provider of third-party administration (“TPA”), data management, COVID-19-related diagnostics and vaccinations, 340B contracted pharmacy services, 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.
NOTE TO INVESTORS: The latest news and updates relating to RXMD are available in the company’s newsroom at https://ibn.fm/RXMD
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