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:2/27/2017)... , ... February 27, 2017 , ... ... an overview on laser diffraction analysis as a tool to characterize particle size ... and potential to obtain improved results and novel scientific findings. It describes methods ...
(Date:2/27/2017)... ... February 27, 2017 , ... ... mark last week. In addition, Discount Power's RCE (Residential Customer Equivalent) count exceeds ... March 2014. The company had 800 customers and 2,250 RCEs at the time ...
(Date:2/27/2017)... ... February 27, 2017 , ... Silicon Valley Hair Institute, ... announce an upgrade to the company's Yelp listing. Bay Area residents struggling from ... diverse as Platelet Rich Plasma (PRP) therapy, hair transplantation techniques such as Follicular ...
(Date:2/26/2017)... (PRWEB) , ... February 26, 2017 , ... ... call for entries to the 7th Edition of International Social Design Awards. ... Design Professionals, Product Designers, System Designers, Governments and Institutions worldwide with realized projects ...
(Date:2/26/2017)... York, New York (PRWEB) , ... February 26, ... ... luxury baby products for wholesale distribution in North America, today announced it would ... online sites. The company, which prides itself on crafting quality and unique baby ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... NEW YORK , February 24, 2017 Following ... Israel , s ... $ 250 M w ound care ... file s BST for inclusion in ... national healthcare reimbursement system   E-QURE Corp. ...
(Date:2/24/2017)... and Markets has announced the addition of the "Hemophilia Drugs Price ... ... Analysis and Strategies - 2016, provides drug pricing data and benchmarks in ... What are the key drugs marketed for Hemophilia ... market? What are the unit prices and annual treatment ...
(Date:2/24/2017)... HILL, N.C. , Feb. 24, 2017 /PRNewswire/ ... are exploring ways to increase their self-service capabilities ... Health Care Providers (HCPs). New research ... many pharma organizations have developed self-service website portals ... electronically.  This is just one of many findings ...
Breaking Medicine Technology: