Biomednewsbreaks - Progressive Care Inc. (RXMD) Releases Q1 2024 Financial Report Showing Record Revenue

(MENAFN- Investor Brand Network) Progressive Care (OTCQB: RXMD) , a personalized healthcare services and technology provider, is reporting financial results for first quarter 2024, the period ended
March 31, 2024. Highlights of the report show the company saw record first-quarter revenues of an estimated $14
.6
million, a 28% increase over revenues reported in the first quarter of 2023, as well as growth in its contract services space. The report also noted that during Q1 2024, Progressive Care began ramping up additional sales and marketing activities targeting the long-term care market in
South Florida.“First-quarter results clearly demonstrate the continued positive momentum in our business, highlighted by considerable growth in our
340B
contract services segment,” said Progressive Care CEO and chair Charles M. Fernandez in the press release.“Our ability to deliver highly specialized care for patients and create enhanced value for providers remains critical to our success, attributes we believe will allow us to further expand our long-term care and OTC business going forward. Furthermore, through the recently proposed merger with NextPlat Corp. (NASDAQ: NXPL) , we believe that Progressive Care will have the opportunity to leverage additional capabilities and resources, further supporting its growth into new and existing healthcare markets throughout the remainder of 2024 and beyond.”

To view the full press release, visit

About Progressive Care

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 telepharmacy 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. Progressive Care became a subsidiary of NextPlat Corp. (NASDAQ: NXPL) on
July 1, 2023. For more information about the company, visit

NOTE TO INVESTORS: The latest news and updates relating to RXMD are available in the company's newsroom at

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