- Exhibits Growth In All Existing Markets -
LONG BEACH, N.Y., July 1 /PRNewswire-FirstCall/ -- Chem Rx Corporation (OTC Bulletin Board: CHRX, CHRXU, CHRXW), a leading provider of institutional pharmacy services, today announced that it has surpassed 67,000 beds served, a five percent increase over the past six months. The Company experienced growth across all five of its institutional facilities including Long Beach, Albany, Pennsylvania, New Jersey and Florida.
Steven C. Silva, President and Chief Operating Officer, commented, "We are very pleased with the progress we have made during the first half of the year which is a testament to our high quality of service and strong reputation in the marketplace. Achieving the 67,000 bed milestone was solely attributable to strong organic growth in each of our existing regions. In addition, we have expanded in the Florida marketplace and are adding beds after commencing operations just three months ago. We expect to continue to demonstrate organic growth for the remainder of the year."
About Chem Rx
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 67,000 residents of more than 425 institutional facilities. Chem Rx's website address is http://www.chemrx.net.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 about Chem
Rx Corporation. 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: 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 SEC. 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.
Steven Silva Stephanie Carrington/Jared Hoffman
President and Chief Operating Officer The Ruth Group
Chem Rx 646-536-7017 / 7013
|SOURCE Chem Rx Corporation|
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