South Florida Hospital News
Tuesday November 24, 2020
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November 2020 - Volume 17 - Issue 5
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Progressive Care to Expand 340B Third Party Administrator Services Nationwide

October 22, 2020 - Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to announce that ClearMetrX Inc., a wholly-owned subsidiary of the Company, has completed an automated 340B data feed integration to expand the total addressable market available to ClearMetrX Inc. as a third-party administrator (“TPA”) for 340B healthcare providers nationwide.
 
The Company’s 340B TPA business has grown more than 333% so far in 2020 and management believes this integration offers the potential for further acceleration of the segment’s growth due to the expanded market footprint it is expected to provide. “We now plug directly into back-end in pharmacy transaction data, circumnavigating the main hurdle we have faced in attempting to ramp up growth as a TPA with ClearMetrX,” noted Alan Jay Weisberg, interim CEO and Chairman of the Board at Progressive Care. “We can immediately begin to operate ClearMetrX as a top-tier 340B TPA with a true nationwide reach. Simply put, this integration unlocks a significantly more scalable strategic vision for our data management operations.”
 
For more information about Progressive Care, please visit the company’s website.
 
About Progressive Care Inc.
Progressive Care Inc. (OTCQB: RXMD), through its subsidiaries, is a Florida health services organization and provider of 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.
 
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