Progressive Care Inc. (“Progressive”) was incorporated under the laws of the state of Delaware on October 31, 2006. Progressive, through its wholly-owned subsidiaries, PharmCo, LLC (referred to as “PharmCo 901”), Touchpoint RX, LLC doing business as PharmCo Rx 1002, LLC (referred to as “PharmCo 1002”), Family Physicians RX, Inc. doing business as PharmCoRx 1103 (referred to as “FPRX” historically or “PharmCo 1103” currently) (pharmacy subsidiaries collectively referred to as “PharmCo”), and ClearMetrX Inc (collectively with all entities referred to as the “Company”, or “we”) is a personalized healthcare services and technology company which provides prescription pharmaceuticals and risk and data management services to healthcare organizations and providers.
Over the past 13 years we have developed a unique model for pharmacy operation and data management. As a health services company, we specialize in analyzing health outcomes, costs and risks associated with administration of prescription pharmaceuticals. The industry has increasingly put the onus on primary care physicians to manage the health outcomes and patient healthcare spending, so our medication therapy management and patient prescription services can assist this process. Physicians recommend our services to their patients as means of ensuring medication adherence and compliance, which prevents costly acute care spending for chronic care conditions and enhances their performance as a practice.
The PharmCo subsidiaries are full-service retail specialty services pharmacies that offer same-day free delivery within Florida. The pharmacies accept most major insurance plans and have competitive out-of-pocket pricing for cash paying patients. The COVID-19 pandemic has created several hurdles for the pharmacy industry, but our history of patientcare management and same-day free home delivery resulted in more recommendations from physicians and new patients using our pharmacies.
Over the past year, we have been performing data management and other services for 340B Covered Entities dispensing medications under the federal 340B Drug Discount Pricing Program. Our unique expertise in prescription data management has attracted additional 340B Covered Entities as clients. We created ClearMetrX as a wholly owned subsidiary to perform third party administration and data management services.
We are focused on strategic growth through software development, SaaS based revenue streams, digital health technologies and expanded penetration of our PharmCo branded operations. We anticipate these efforts will be realized through our ongoing B2B healthcare marketing strategies, strategic partnerships, and acquisitions.
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