Navigation Links
Paramount Completes Acquisition of Chem Rx
Date:10/26/2007

NEW YORK, Oct. 26 /PRNewswire-FirstCall/ -- Paramount Acquisition Corp. (OTC Bulletin Board: PMQC, PMQCU, PMQCW) ("Paramount") announced today it has completed the acquisition of 100% of the outstanding stock of B.J.K. Inc., a New York corporation doing business as Chem Rx ("Chem Rx"), pursuant to a Stock Purchase Agreement, by and among Paramount, Chem Rx and the shareholders of Chem Rx, dated June 1, 2007, as amended. Effective as of the closing of the acquisition, Paramount has changed its name to "Chem Rx Corporation."

ABOUT CHEM RX

Founded more than 40 years ago, Chem Rx is a major, privately-owned 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 61,000 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.

ABOUT PARAMOUNT ACQUISITION CORP.

Paramount Acquisition Corp. was formed for the specific purpose of effecting a merger, capital stock exchange, asset acquisition, or other similar business combination with an operating business in the healthcare industry. Paramount raised net proceeds of approximately $53 million through its initial public offering consummated in October 2005 and exercise of the over-allotment option, and has dedicated its attention since the offering to seeking and evaluating business combination opportunities.

Cautionary Statements

This press release contains forward-looking statements about Paramount, Chem Rx and their combined business after completion of the proposed business combination. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of Paramount's or 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 Paramount's filings with the SEC, including its Annual Report on Form 10-KSB for the year ended December 31, 2006. The information set forth herein should be read in light of such risks. Paramount does not assume any obligation to update the information contained in this press release.

Contacts:

J. Jay Lobell Stephanie Carrington /

Chief Executive Officer & Elizabeth Scott

Secretary The Ruth Group

Paramount Acquisition Corp. 646-536- 7017 / 7014

(212) 554-4522 scarrington@theruthgroup.com

jlobell@paramountbio.com escott@theruthgroup.com


'/>"/>
SOURCE Paramount Acquisition Corp.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. iGATE Completes Phase I Testing Of Meningitis Vaccine
2. Delhi Hospital Completes 100 Liver Transplants
3. Roche Completes Acquisition of BioVeris
4. AEternas acquisition of Zentaris being followed up with its new product pipeline and clinical development strategy
5. Leading Biotech Companies Are Interested In Acquisition Of Smaller Companies
6. NHS financial crisis may lead to roll back of flexi-work scheme and private acquisition
7. Smoking Increases Risk of HIV Acquisition
8. Circassia Announces Acquisition of Organ Transplant Anti-Rejection Technology
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... ... 23, 2017 , ... The physicians of KSF Orthopaedic Center PA are proud ... new location is located at 2255 E. Mossy Oaks Rd., Suite 440, Spring, Texas ... will provide patients living in the north Houston area (The Woodlands, Conroe, Magnolia, Kingwood, ...
(Date:3/23/2017)... ... 23, 2017 , ... The IoT (Internet of Things) is revolutionizing the way ... impact on businesses and individual consumers alike. Laboratories can maximize their profit margin ... anywhere from $4 trillion to $11 trillion dollars by the year 2025. McKinsey expects ...
(Date:3/23/2017)... ... March 23, 2017 , ... March is National Kidney Month – the ... it comes to maintaining good health. Every day, two kidneys filter about 120 to ... drop of your blood, eliminating waste, regulating fluid levels and blood pressure, supporting bone ...
(Date:3/23/2017)... ... March 23, 2017 , ... The ... organized by HMP Communications Holdings, LLC, today announced that RestorixHealth® has ... network of wound centers interested in becoming Certified Wound Specialist Physicians (CWSP®). ...
(Date:3/23/2017)... ... March 23, 2017 , ... After raising more than $1.135 million ... most-funded travel pillow in crowdfunding history, has established a U.S. Headquarters in ... travel innovation to Americans. , “We’re excited to be operating on U.S. shores, where ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... March 23, 2017 CENTRO DE IMAGEM DIAGNOSTICOS ... paragraph 4 of Law 6,404/76 and Instruction 358/02 of ... its shareholders and the market in general that it ... Centro de Diagnosticos por Imagem Ltda. (" CDI "), ... in RADIOLOGISTAS ASSOCIADOS LTDA. (" Partnership " and " ...
(Date:3/23/2017)... , March 23, 2017  The goal ... system to identify and track prescription drugs as they ... , in response to requirements from US FDA to ... of potentially dangerous medicines. Blockchain startup ... cryptographic identity chips and blockchain technology and recently raised ...
(Date:3/23/2017)... , March 23, 2017  Cornerstone Pharmaceuticals, ... a major milestone today.  Following successful End-of-Phase ... U.S. Food and Drug Administration (FDA), the ... and regulatory path forward to conduct pivotal ... patients with acute myeloid leukemia (AML) and ...
Breaking Medicine Technology: