Business & Finance
Progressive Care reports 33% rise in revenue for October 2016
29 November 2016 -

Healthcare company Progressive Care (OTC PINK:RXMD) disclosed on Monday that it filled over 18,600 in prescriptions and achieved revenues of USD1.6m for October 2016.

These sale were made through the company's subsidiary Pharmco LLC, a South Florida health services organisation that provides prescription pharmaceuticals and specialises in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management and the supply of prescription medications to long term care facilities.

The company said the prescriptions and revenues mark a growth of 17% and 33%, respectively, compared to October 2015.

Through the first ten months of 2016, the company stated that it has surpassed the total revenue collection of 2015 by over USD1m.

At the outset of the year, the company added that it set an aggressive 20% revenue growth target of USD16m annual revenues.

Currently, Progressive Care is on pace to reach over USD17.5m in annual revenues. The increasing compounding sales are delivering stronger than expected results.

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