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ApothecaryRx Provides Exit Strategy for Boomer Pharmacy Businesses; Sustains Service and Communication Structure of Community Pharmacies to Improve Drug Compliance, Reduce Drug Errors
Date:4/14/2008

GOLDEN VALLEY, Minn., April 14 /PRNewswire/ -- Independent community pharmacy owners looking to pursue the pleasures of retirement have a new option for exiting their businesses. ApothecaryRx offers successful independent retail pharmacy owners a smooth and financially viable transition into retirement that maintains the strength and independence of the business -- and an alternative to selling to a national chain drug store.

ApothecaryRx pays fair market value for the assets of community pharmacies, keeps consumer-facing aspects of the business unchanged, and implements sophisticated back-end processes and procedures that improve overall pharmacy operations while reducing overall expenditures. More specifically, ApothecaryRx offers sustained employment at market rates to the previous owner; maintains employment and seniority for all existing employees; maintains the pharmacy name, customer service protocol, and role in the community; upgrades computer systems and technologies to a shared platform; provides a common human resources and payroll function; and leverages the aggregated volume of stores to lower costs.

"Our business model is based on the belief that community retail pharmacies are unsurpassed in their ability to improve prescription drug compliance and reduce the incidence of prescription drug errors, both of which continue to be growing problems in our country," said Lewis P. Zeidner, founder, president and CEO of ApothecaryRx, based in Golden Valley, Minn. "It is our mission to do our part to keep independent pharmacies independent and to sustain what they do best, which is focus on patient care through communication between a pharmacist and patient."

To date, ApothecaryRx has acquired 14 pharmacies through 10 acquisitions, including one location in Illinois, one location in Missouri, two locations in Colorado, five locations in Oklahoma, and five locations in Minnesota.

Benefits to Retiring Independent Pharmacy Owner
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SOURCE ApothecaryRx
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