March 06, 2015 04:01 PM Eastern Standard Time
TYSONS CORNER, Va.--(BUSINESS WIRE)--ScripsAmerica, Inc. (OTCBB: SCRC), a leading provider of a range of specialty prescription and over the counter pharmaceuticals and medical supplies, today announced that it has signed Letters of Intent to acquire an equity interest in 2 additional specialty pharmacies licensed to dispense pharmaceutical specialty products in a total of 40 states.
Bob Schneiderman, Chief Executive Officer and Founding Partner of ScripsAmerica, said, "As part of our growth strategy, we believe that making strategic acquisitions of additional pharmacies similar in profile to Main Avenue Pharmacy represent an attractive, low-risk means to expand our geographic presence, leverage our existing investment, and introduce new products to our extensive distribution network. The two new pharmacies are licensed in a total of 40 states and already have a healthy mail order business, bringing us a platform that nicely complements our current operations. In addition, with these additions we also gain the market expertise and knowledge of their management teams, which will serve to strengthen our overall organization."
ScripsAmerica intends to fund the acquisition from existing cash balances or borrowing availability. The transaction is subject to normal due diligence and the completion of satisfactory purchase agreement, with the intention to close the acquisition no later than June 30, 2015. more
Bob Schneiderman, Chief Executive Officer and Founding Partner of ScripsAmerica, said, "As part of our growth strategy, we believe that making strategic acquisitions of additional pharmacies similar in profile to Main Avenue Pharmacy represent an attractive, low-risk means to expand our geographic presence, leverage our existing investment, and introduce new products to our extensive distribution network. The two new pharmacies are licensed in a total of 40 states and already have a healthy mail order business, bringing us a platform that nicely complements our current operations. In addition, with these additions we also gain the market expertise and knowledge of their management teams, which will serve to strengthen our overall organization."
ScripsAmerica intends to fund the acquisition from existing cash balances or borrowing availability. The transaction is subject to normal due diligence and the completion of satisfactory purchase agreement, with the intention to close the acquisition no later than June 30, 2015. more
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