- Exhibits Growth In All Existing Markets -
LONG BEACH, N.Y., Feb. 7 /PRNewswire-FirstCall/ -- Chem Rx Corporation (OTC Bulletin Board: PMQC, PMQCU, PMQCW), the third largest long-term care pharmacy, today announced that it has surpassed 65,000 beds served. The Company experienced growth across all four of its institutional pharmacies, which serve a variety of long-term care facilities in the New York City metropolitan area, as well as parts of New Jersey, upstate New York, and Pennsylvania.
"The continued organic growth coupled with consistent revenue growth at all of our pharmacies demonstrates the success of our strategy to increase our market share and revenue in our existing regions," said Steven Silva, President and COO of Chem Rx. "We are pleased with the success that we have seen thus far in terms of creating growth and are also pleased with initial results from a recent SG&A review. We expect to continue these trends in our soon to be opened Deerfield Beach, FL pharmacy."
About Chem Rx
Founded more than 40 years ago, Chem Rx is a major, long-term care pharmacy serving the New York City metropolitan area, as well as parts of New Jersey, upstate New York, and Pennsylvania. Chem Rx's client base includes skilled nursing facilities and a wide range of other long-term care facilities. Chem Rx provides to more than 65,000 residents prescription and non-prescription drugs, intravenous medications, durable medical equipment items and surgical supplies. 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; 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.
President and Chief Operating Officer
Stephanie Carrington / Elizabeth Scott
The Ruth Group
646-536-7017 / 7014
|SOURCE Chem Rx Corporation|
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