Progressive Care

What Progressive Care does

Progressive Care (OTCQB: RXMD) is a publicly traded healthcare services company operating primarily through its subsidiary PharmCo, LLC, which conducts business as PharmcoRx. Founded in 2005-2006 and headquartered in Miami, Florida, the company runs a multi-state licensed pharmacy network serving South Florida communities and B2B healthcare partners across multiple states. It employs 11-50 people and operates retail pharmacy locations in the Miami/Broward/Palm Beach region with complimentary delivery and multilingual support.

PharmcoRx operates three core service lines: (1) Retail Pharmacy — everyday prescriptions, immunizations, OTC consultations, and complimentary delivery for community patients; (2) 340B Program Support — full-spectrum program management for Federally Qualified Health Centers including enrollment, compliance, inventory, and claims optimization; and (3) Long-Term Care Services — turnkey pharmacy solutions for assisted living facilities, senior living communities, and PACE programs, including medication synchronization, custom packaging, E-MAR integration, and 24/7 pharmacist access. The underlying technology stack is an integrated pharmacy platform connecting patients, providers, payers, and caregivers, with proprietary workflow features such as E-MAR integration and medication synchronization differentiating its long-term care offering.

Revenue is generated through pharmacy dispensing fees and medication margins on filled prescriptions (transaction-fee model) as well as managed services for 340B and long-term care engagements. The company targets B2B enterprise contracts with virtual healthcare providers (e.g., the DevotedDOc multi-state fulfillment agreement announced November 2025), Federally Qualified Health Centers, and assisted living/PACE communities, alongside direct retail pharmacy walk-in and delivery business. In Q1 2026, Progressive Care reported $9.9 million in revenue (a 29% year-over-year decline), a record 35% gross margin, and a net loss of $1.1 million narrowed by 42% through cost controls.

Name

Progressive Care

Legal name

PharmCo, LLC

Website

https://progressivecareus.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Progressive Care (OTCQB: RXMD), through its subsidiary PharmcoRx, operates a multi-state licensed pharmacy network providing retail pharmacy, 340B program management for FQHCs, and long-term care pharmacy services to virtual healthcare providers, healthcare facilities, and South Florida community patients.

Ownership category

akta.pro rank

Product category

Specialty Pharmacy Services

NAICS

Pharmacies and Drug Retailers (456110)

SIC

Retail-Drug Stores And Proprietary Stores (5912), Services-Home Health Care Services (8082)

akta.pro primary industry

Retail & Community Pharmacies (Chain/Independent) (HLAFALAA)

akta.pro secondary industries

Mail-Order & Home Delivery Pharmacies (HLAFALAD), Medication Reconciliation & Transitions-of-Care Pharmacy Services (HLAFALAK)

Keywords

• Pharmacy fulfillment services
• Long-term care pharmacy
• 340B program management
• Retail pharmacy operations
• Specialty medication dispensing

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Prescription Fulfillment Services: Multi-state prescription fulfillment contracts with virtual healthcare providers and healthcare organizations. Revenue generated through pharmacy dispensing fees and medication margins on filled prescriptions.
2. 340B Program Management: Full-spectrum 340B program management for Federally Qualified Health Centers including enrollment, compliance, inventory management, and claims optimization services.
3. Retail Pharmacy: Traditional retail pharmacy services including prescription dispensing, immunizations, OTC consultations, and complimentary delivery to patients.
4. Long-Term Care Pharmacy Services: Turnkey pharmacy solutions for assisted living facilities, senior living communities, and PACE programs including medication synchronization, custom packaging, and 24/7 pharmacist access.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Progressive Care operates through its subsidiary PharmcoRx as a multi-state licensed pharmacy network offering retail community pharmacy services (prescriptions, immunizations, OTC consultations, complimentary delivery), 340B program management for Federally Qualified Health Centers, and turnkey long-term care pharmacy solutions for assisted living, senior living, and PACE communities including medication synchronization, custom packaging, E-MAR integration, and 24/7 pharmacist access.

Product overview

PharmcoRx operates as a full-service pharmacy network offering an integrated, scalable platform that connects patients, providers, payers, and caregivers. The portfolio comprises three core service lines: Retail Pharmacy (community pharmacy with prescriptions, immunizations, and complimentary delivery), 340B Program Support (enrollment, compliance, and optimization services for Federally Qualified Health Centers), and Long-Term Care Services (medication synchronization, custom packaging, and E-MAR integration for senior living and PACE communities). The brand serves South Florida with multilingual support and delivery capabilities, positioning itself as a technology-enabled pharmacy care provider focused on accountable, patient-centered outcomes.

Differentiator

Problem solved

Functional benefit

Products and services

• Retail Pharmacy Community pharmacy offering everyday prescriptions, immunizations, and OTC consultations with rapid fulfillment, personalized service, and complimentary delivery for South Florida community patients.
• 340B Program Support Full-spectrum 340B program management for Federally Qualified Health Centers and care partners, covering enrollment, compliance, inventory management, and claims optimization to expand healthcare access and control costs.
• Long-Term Care Pharmacy Services Turnkey pharmacy solutions for assisted living facilities, senior living communities, and PACE programs including medication synchronization, custom packaging, E-MAR integration, and 24/7 pharmacist access to streamline operations and improve resident safety.

Quantifiable outcome

• 35% gross margin achieved in Q1 2026, up from 21% in prior year period
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• DevotedDOccoreStrategic or Co-development Partner · 5 November 2025PharmcoRx subsidiary PharmcoRx was awarded a multi-state prescription fulfillment contract by DevotedDOc, a virtual healthcare provider offering urgent care and medication treatment for opioid use disorder. The contract initially covers Florida and Georgia with plans for nationwide expansion, leveraging PharmcoRx's licensed pharmacies across multiple states. This partnership represents a core strategic relationship for prescription fulfillment services.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Peers

• Capsa Healthcare:

Broad incumbents

• PillPack (Amazon Pharmacy): Amazon-owned mail-order pharmacy providing pre-sorted dose packaging and home delivery for maintenance medications. Represents a scaled, well-capitalized competitor to Progressive Care's retail pharmacy and complimentary delivery offering.
• Walgreens Boots Alliance: National retail pharmacy chain with mail-order, immunization, and LTC services. Represents a much larger incumbent competitor in retail pharmacy where Progressive Care competes for community patients.
• Omnicare: CVS Health-owned long-term care pharmacy serving skilled nursing, assisted living, and behavioral health facilities nationwide. A much larger incumbent offering overlapping LTC pharmacy and clinical services that compete with Progressive Care's long-term care offering.

Emerging players

• Alto Pharmacy: Digital-first pharmacy with free same-day delivery and care coordination, including for long-term care and specialty populations. Comparable to Progressive Care's retail pharmacy with complimentary delivery and technology-enabled fulfillment.

Direct peers

• PharMerica: One of the largest US long-term care and institutional pharmacy services providers, serving skilled nursing facilities, assisted living communities, and senior living operators. Directly comparable to Progressive Care's long-term care pharmacy and custom packaging offerings.
• ExactCare Pharmacy: Specialty long-term and home-based pharmacy provider offering medication management, custom packaging, and adherence solutions for patients with chronic conditions. Comparable to Progressive Care's LTC and chronic-disease prescription fulfillment capabilities.
• Guardian Pharmacy Services: National long-term care pharmacy operator providing medication management, custom packaging, and 24/7 pharmacist access to assisted living and senior living communities. Closely mirrors Progressive Care's LTC services and E-MAR-based service model.
• Polaris Pharmacy Services: Regional long-term care pharmacy operator serving assisted living and skilled nursing facilities with custom packaging and clinical pharmacy services. Similar service mix and customer base to Progressive Care's LTC pharmacy line.
• GeriMed: Long-term care pharmacy provider focused on assisted living and senior living communities, offering medication synchronization, packaging, and consulting services. Directly comparable to Progressive Care's senior-living pharmacy segment.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/progresscareus

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Progressive Care