Progressive Care Inc.
progressivecareus.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 14, 2024. Its latest SEC filing is a 15-15D from Oct 2, 2024.
10-Q for Q2 FY2024, filed Aug 14, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Dispenses prescription and compounded medicines and provides pharmacy and data-management services to patients, healthcare providers, and healthcare organizations.
10-K for FY2023, filed Apr 11, 2024Progressive Care Inc. (“Progressive”) was incorporated under the laws of the state of Delaware on October 31, 2006 under the name…View ↗
We enhance patient adherence to complex drug regimens, collect and report data, and ensure effective dispensing of medications to support…View ↗
Through our wholly owned subsidiary, ClearMetrX, we offer data management and reporting services to support health care organizations.…View ↗
Who Were Their Customers?
Patients get prescriptions directly from the pharmacies, and their insurance providers are billed electronically; 340B program organizations contract for pharmacy and data-management services.
10-K for FY2023, filed Apr 11, 2024The Company recognizes product sales from prescriptions dispensed to patients (customers) at the time the drugs are physically delivered to…View ↗
The Company recognizes revenue from TPA services as it satisfies the performance obligations under the TPA contract with a 340B covered…View ↗
Through our wholly owned subsidiary, ClearMetrX, we offer data management and reporting services to support health care organizations.…View ↗
10-K for FY2023, filed Apr 11, 2024
We sell to numerous customers including various managed care organizations within both the private and public sectors. Certain healthcare…View ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Aug 13, 2024
−$9.3MView ↗
- ▲ +100% (Loss)
- vs −$4.6M in Q2 FY2023
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Sep 17, 2024
Stockholders approve business combination with NextPlat
The approved proposal would make Progressive Care a wholly owned NextPlat subsidiary through a merger.
Sources
8-K, filed Sep 17, 2024
On September 13, 2024, Progressive Care Inc. (the “Company”) held a Special Meeting of its Stockholders (the “Special Meeting”). At the…View ↗
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Apr 22, 2024
Progressive Care changes its independent accountant
The company dismissed CohnReznick and engaged RBSM as its independent registered public accountant.
Sources
8-K, filed Apr 22, 2024
On April 15, 2024, the board of directors (the “Board”) of Progressive Care Inc. (the “Company”) resolved to dismiss CohnReznick LLP…View ↗
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Apr 17, 2024
Progressive Care agrees to merge into a NextPlat subsidiary
The merger agreement provides for Progressive Care shares to convert into NextPlat shares at closing.
Sources
8-K, filed Apr 17, 2024
On April 12, 2024, Progressive Care Inc., a Delaware corporation (the “Company”) entered into a Merger Agreement and Plan of Reorganization…View ↗
Who Did They Compete With?
Competes with CVS Caremark, Express Scripts, Humana, Walgreens, Optum, MedImpact Healthcare Systems, and Omnicare
10-K for FY2023, filed Apr 11, 2024We face substantial competition within the pharmaceutical healthcare services industry and in the past year have seen even more…View ↗
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