Published:
Rx Processing Corp. on Track to Complete Direct Labs Services Inc. Acquisition
Rx Processing Corporation (OTC: RXPC), a
leading source of low-cost prescription medications for millions of
Americans who are under-insured or have no prescription insurance coverage,
will complete acquisition of Direct Lab Services Inc. in second quarter
2006.
Rx Processing Corp. optioned in 2005 for the acquisition of Direct
Laboratory Services Inc., a 17-year-old Louisiana company, a pioneer and
innovator in the Direct Access Laboratory testing Industry. This strategic
acquisition will help us provide U.S. citizens more personal control over
their wellness testing needs including CBCs, PSAs, and a host of blood test
panels. Direct Labs Services is a multi-million-dollar acquisition with
limited competition, strength in its intellectual property, and an
effective competitor in this market.
Due diligence performed on Direct Labs Services Inc., verified all claims
that warrant and support the 4 million dollar acquisition with a few
welcomed surprises. Of note, a contract with the State of Louisiana Office
of Group benefits (260+ thousand clients), the credentialing as a Health
Savings Account (HSA) provider and enough cash in the bank to pay
laboratory vendors 6 months in advance for client services ordered in 2006.
Peter Fiorillo commented, "This acquisition broadens our ability to deliver
value added laboratory service products and focus on helping to stabilize
and support traditional domestic prescription medication supply lines.
These added services will enhance support of independent pharmacies,
sustain local markets through high margin residual ordering of laboratory
products, and allow U.S. Citizens access to laboratory testing from their
trusted health care provider."
John Bell, founder of Direct Laboratory Services, stated, "My interest in
selling solidifies the future of this company and the Direct Access
Laboratory Testing industry. My continued support of Rx Processing Corp.
as a shareholder and corporate officer, post acquisition, will further
guide the principles at the helm, ensure our future success and provide
needed health care benefits to our current and future clients."
http://www.rxprocessingcorp.com
About Rx Processing
Rx Processing is positioned to become a market leader in providing
prescription medications and preventive health laboratory tests to U.S.
citizens, corporations, and members, through CLIA-certified patient service
centers, for their lab testing and licensed pharmacies in the United States
and around the world. The company provides access to approved brand-name
and generic medications, and hundreds of lab tests with access to 4,000+
CLIA-certified patient service centers for their lab testing. Rx Processing
Corp. estimates that more than 44 million United States Citizens could
benefit from the company's affordable prescription medication and
laboratory testing programs.
Safe Harbor Statement
All statements other than statements of historical fact included in this
press release are "forward-looking statements." The forward-looking
statements, including statements about the company's future expectations,
including future revenues and earnings, and all other forward-looking
statements (i.e., future operational results and sales) are subject to
assumptions and beliefs based on current information known to the company
and factors that are subject to uncertainties, risk and other influences,
which are outside the company's control, and may yield results differing
materially from those anticipated.
Distributed by Market Wire
Copyright © 2008, MarketWire
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Tags: ,Medical and Healthcare:HealthandNutrition, MedicalandHealthcare:Healthcare, PharmaceuticalsandBiotech:Biotech, PharmaceuticalsandBiotech:Drugs, PharmaceuticalsandBiotech:EquipmentandSupplies, ,INTHPINK,DE,WILMINGTON, DE
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