Some Information on Imprimis Agreement to Acquire South Coast Specialty Compounding dba Park Compounding

News Breaks
December 2, 2014
08:06 EDT		IMMY	Imprimis signs agreement to acquire South Coast Specialty Compounding Imprimis announced that it has entered into a stock purchase agreement to acquire South Coast Specialty Compounding, DBA Park Compounding. The acquisition of Park is expected to close on or about January 1, 2015, subject to the satisfaction of certain customary closing conditions. As part of the transaction, Imprimis also entered into a non-exclusive license agreement with Park. The license agreement allows Park to immediately begin making and dispensing Imprimis' proprietary ophthalmology and urology formulations in the 13 states in which it is currently licensed, including California, Nevada, Oregon, and Hawaii. Following the close of the transaction, Imprimis expects Park to continue its current profitable sales model, while building upon the Park formulation portfolio with the addition of Imprimis' patent-pending Dropless and other proprietary formulations. Imprimis anticipates that Park will recognize revenues of nearly $4 million in 2014. In addition, with this acquisition, Imprimis will gain access to the significant expertise of innovative pharmacists and an experienced staff, immediate prescription dispensing redundancy, and new licenses in key states. The Park transaction represents the second pharmacy acquisition by Imprimis. On April 1, 2014, Imprimis acquired Pharmacy Creations, LLC, a New-Jersey based compounding pharmacy. With Park and Pharmacy Creations, both PCAB-accredited facilities, Imprimis can now distribute its formulations into 37 states, representing approximately 75% of the U.S. population. Imprimis is dedicated to adding additional state pharmacy licenses in the near term with the goal of reaching nationwide distribution capability. Imprimis may also build or otherwise access a 503B FDA-registered outsourcing facility to further its nationwide distribution channels. quoted from here