Navigation Links
Chem Rx Corporation Extends Short-Term Forbearance Agreements with Lenders
Date:6/16/2009

LONG BEACH, N.Y., June 16 /PRNewswire-FirstCall/ -- Chem Rx Corporation (Pink Sheets: CHRX, CHRXU, CHRXW), a leading provider of institutional pharmacy services, today announced that it has extended its short-term forbearance agreements with the requisite lenders under its two primary credit facilities until June 26, 2009. Under the original agreements, the forbearance period was to end on June 15, 2009.

The extension of the forbearance agreements is intended to give all parties involved additional time to come to a resolution. Chem Rx remains committed to reaching a satisfactory solution that is in the best interest of all involved parties, and is confident of a favorable outcome.

About Chem Rx Corporation

Founded more than 40 years ago, Chem Rx is a major institutional pharmacy serving the New York City metropolitan area, as well as parts of New Jersey, upstate New York, Pennsylvania and Florida. Chem Rx's client base includes skilled nursing facilities and a wide range of other long-term care facilities. Chem Rx annually provides over six million prescriptions to more than 71,000 residents of more than 470 institutional facilities. Chem Rx's website address is www.chemrx.net.

Forward Looking Statements

Certain statements within this press release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of Chem Rx's management and are subject to risks and uncertainties that could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: an ability to reach agreement with lenders to resolve current violations under credit agreements; difficulties in compliance with government regulations; changes in legislation or regulatory environments; requirements or changes adversely affecting the health care industry, including changes in Medicare reimbursement policies; fluctuations in customer demand; management of rapid growth; intensity of competition; timing, approval and market acceptance of new product introductions and institutional pharmacy locations; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in Chem Rx Corporation's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Chem Rx Corporation does not assume any obligation to update the information contained in this press release.

    Contacts:
    Gary M. Jacobs                       Amy Glynn/Ashleigh Barreto
    Chief Financial Officer              The Ruth Group
    Chem Rx Corporation                  646-536-7023 / 7028
    516-889-8770                         aglynn@theruthgroup.com
                                         abarreto@theruthgroup.com


'/>"/>
SOURCE Chem Rx Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Rochester Medical Corporation Set to Join Russell 3000 Index
2. CorVel Corporation to Adopt 10b5-1 Stock Repurchase Plan
3. Biomerix Corporation Receives ISO 13485 Certification
4. Providence Service Corporation Announces Preliminary Results of Annual Meeting of Stockholders
5. Ted Karkus and Karkus Slate of Directors Prevail in Federal Court, Seated as Directors of The Quigley Corporation; Ted Karkus Elected Chairman of the Board
6. Hospital Corporation of America Named to Computerworlds Annual List of Best Places to Work in Information Technology
7. Genaera Corporation Board of Directors Dissolves Corporation and Forms Liquidating Trust
8. Zix Corporation Announces Review of Strategic Alternatives for e-Prescribing Business
9. Response Biomedical Corporation Announces Appointment of Vice President Finance & Administration and Chief Financial Officer
10. Sabinsa Corporation Validates Safety of Garcinia Cambogia Extract in Light of Hydroxycut Warning
11. RiskMetrics Recommends That Providence Service Corporation Stockholders Vote for Providences Director Nominees on the White Proxy Card
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... ... February 08, 2016 , ... ... BASF Human Nutrition into the Food & Beverage and Dietary ... BASF’s channel partner throughout Canada and USA geographies east of the Rocky Mountains ...
(Date:2/8/2016)... ... February 08, 2016 , ... The Valentine’s Season is famous for gift giving with flowers, ... that they are loved. This year, for more than 5.6 million Americans suffering with ... won't be enough to remind them of the lives they’ve led and the people they’ve ...
(Date:2/8/2016)... ... February 08, 2016 , ... If you are feeling that your ... are not alone. According to the Center for Disease Control and Prevention (CDC), 34.9% ... diabetes and certain types of cancer, some of the leading causes of preventable death. ...
(Date:2/8/2016)... , ... February 08, 2016 , ... ... IN metro area, has selected the latest beneficiary of their ongoing community enrichment ... to preventing bullying in area schools. Donations are now being accepted at: ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... and relationship-marketing firm, announced today that nominations will be accepted February 8, ... West Awards. , Awards include the Information Security Executive® of the ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... 2016 Cardiovascular Surgery Devices - Medical ... Medical Devices sector report, "Cardiovascular Surgery Devices - ... of Cardiovascular Surgery Devices currently in pipeline stage. ... The report provides comprehensive information on the pipeline ... various stages of development. The report reviews major ...
(Date:2/8/2016)... TOKYO and FAIRFIELD, N.J. ... (Otsuka) and Medimetriks Pharmaceuticals, Inc. (Medimetriks) today announced that ... exclusive development and commercialization rights for OPA-15406 in the ... agreement also provides manufacturing rights.  OPA-15406 is a topical, ... for atopic dermatitis. --> ...
(Date:2/8/2016)... February 8, 2016 --> ... research report "Ablation Technologies Market by Product (Radiofrequency, Ultrasound, ... Management, Cosmetic Surgery, Ophthalmology, Gynecology) - Global Forecasts to ... market over the forecast period of 2015 to 2020. ... 2020, at CAGR of 10.5% from 2015 to 2020. ...
Breaking Medicine Technology: