Progressive Care, Inc. (OTCQB: RXMD)

Progressive Care, Inc. (RXMD)

Business Overview

Progressive Care, Inc. (OTCQB: RXMD), through its subsidiaries Smart Medical Alliance, Inc. and PharmCo, LLC, is a South Florida health services organization and provider of administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, health practice risk management, prescription pharmaceuticals, compounded medications, the sale of anti-retroviral medications, medication therapy management (MTM), and the supply of prescription medications to long term care facilities.

Mission Statement

Progressive Care seeks to define a new level of service and healthcare that is driven by the needs of patients and families. As the healthcare system changes and adjusts, gaps form in the delivery of care leaving patients, providers, and even payors behind to deal with negative health outcomes. Progressive Care works to eliminate these gaps in access to adequate healthcare and patient therapy management to improve efficacy of the healthcare system.

Company History

Progressive Care is the proud owner of PharmCo LLC. PharmCo, LLC was established in 2005 as Florida Limited Liability Corporation with the goal of becoming a premier pharmacy in the South Florida community. Since that time, the company has evolved into a health services company that centers around the provision prescription pharmaceuticals. As part of this evolution, the company has added a number of services and business lines including custom compounded medications, medication therapy management (MTM), 340B services to charitable organizations, case management linkage, health practice risk management, and in-home health risk review. The company is dedicated to treating its customers with compassion, professionalism, privacy and respect with a commitment to education, support and community outreach.

Progressive Care is now moving forward in its endeavors to grow the company by expanding its facility, adding new locations, acquiring operating pharmacies, and further developing our current business lines.

On September 1, 2016, Progressive Care opened Smart Medical Alliance Inc. to assist healthcare providers with navigating the complex risk management environment of their insurance network contracts. The company believes that the need for outsourced support for providers is increasing and estimates the market in the state of Florida to be over $1 billion annually. Smart Medical Alliance provides management and support services to doctors and administrators under both capitated and fee-for-services insurance contracts. It has created a set of service options for providers as well as a-la-carte pricing to meet the specific needs of healthcare practices. These services include billing & coding, data management and evaluation, compliance & adherence monitoring, recruiting, staffing, training, best practices and supervisory procedures.

Market Info

Market Cap 25,873,283 11/12/2018

Authorized Shares 500,000,000 11/02/2018

Outstanding Shares: 431,221,376 11/02/2018

Restricted: 81,099,982 11/02/2018

Unrestricted: 350,121,394 11/02/2018

Float: 334,506,590 03/31/2018

Par Value: 0.00

Shareholders of Record: 215 06/30/2018

Short Interest: 961 (-97.95%) 09/14/2018

Transfer Agent: ClearTrust, LLC

Key Executives

Alan J Weisberg – CFO, Accountant
Shital Parikh Mars – CEO
Shaun Nevel – Assistant Controller
Armen Karapetyan – Business Development

Progressive Care, Inc.

901 N Miami Beach Blvd Suite 1, 2
North Miami Beach, FL 33162