Navigation Links
Pharmagen Partners with Bagel Boy Equity Group II, LLC and prepares to Launch its Industry Consolidation Strategy
Date:12/17/2013

SILVER SPRING, Md., Dec. 17, 2013 /PRNewswire/ -- Pharmagen, Inc. (OTCBB: PHRX) (the "Company" or "Pharmagen") announces that is has executed an agreement with Bagel Boy Equity Group II, LLC, whereby its Managing Partner, Richard A. Wolpow will become Chairman of the Board of Directors and interim Chief Operating Officer ("COO").  Wolpow will work closely with Pharmagen's CEO, Mackie Barch, and the rest of its executive team using the Company as the platform for deploying a roll-up consolidation plan in the hard-to-find secondary wholesale and sterile compounding market.  Pharmagen's goal will be to build a fully integrated state-of-the-art distribution and supply chain that will drive revenue and EBITDA growth for shareholders.

"We have been looking at this space for the past year and believe Pharmagen has the right platform for the overall success of the plan," says Richard A. Wolpow, managing partner of Bagel Boy Equity Group II LLC, a private family office he controls.  As a component to the deal Bagel Boy Equity Group will lead a Bridge Financing that will help kick-off the plan that has been in development for the past months including a detailed capital restructure plan.    

The market is made of a lot of quality smaller secondary wholesale companies and compounding laboratories that are all running into similar problems; regulations are getting tighter, supply chain is shrinking along with revenues and profits.  Without change, many of these companies may not survive and/or have an exit strategy in the future.   "Pharmagen has made significant investments across the board; from its focus to become a  cGMP complaint laboratory, industry changing IT platform, and drug productions models, the Company is poised to become a best-in-class provider" continued Wolpow.

"This is all very exciting stuff; working together we created an acquisition class of preferred stock that represents a non-dilutable interest in the Company.  It provides offerings of cash and stock, executive management positions, performance bonuses and seats on the Board of Directors.  There are a lot of talented competitors out there that we are confident understand what is going on in this market and that change is needed to adapt to the times.  We have already identified a handful of acquisition targets that would like to join us on this journey," Wolpow continued.

"We are really fortunate to have Richard on the team. It validates all the work we've been doing behind the scenes for the last two years to build a strong foundation for the future.  We have a lot of work ahead of us, but are very exciting about what 2014 will bring," said Mackie A. Barch, CEO of Pharmagen. 

About Pharmagen

Pharmagen, Inc. ("Pharmagen"), and wholly owned subsidiaries and operating divisions Pharmagen Laboratories, Inc., Pharmagen Distribution, LLC and Pharmagen Nutraceuticals, Inc. offers innovative solutions to the nations sterile pharmaceutical crisis.  With a multi-solution approach, Pharmagen is helping to meet the demand of the health provider market through independent wholesale, compounding, and IT solutions.  Nationally focused, Pharmagen is a distributor of specialty drugs, compounding and admix pharmacy and producer of over-the-counter ("OTC") branded multivitamins.  Pharmagen currently functions as a just-in-time source of supply for hospitals for those products that are hard-to-find.

Contact:  888-264-4597 or info@pharmagenrx.com 
Follow Us on Twitter: @pharmagenrx or
The Drug Shortage Report http://drugshortagereport.blogspot.com/

About Bagel Boy Equity Group II, LLC

Bagel Boy Equity Group II, LLC, was founded it Managing Partner, Richard A. Wolpow.  Mr Wolpow has been advising and operating small to mid-size private and public companies for over 20 years.  He is or has been founder and chief operator of a number of company's primarily in the Healthcare industry.  Currently, Mr. Wolpow is on the Board of Directors or three companies, is an operating partner of a healthcare specific private equity firm and is the Trustee for a private charitable trust.    

Safe Harbor Statement

Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements.  These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Pharmagen actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements.  The risks, uncertainties and other factors are more fully discussed in Pharmagen's filings with the U.S. Securities and Exchange Commission.  All forward-looking statements attributable to Pharmagen herein are expressly qualified in their entirety by the above-mentioned cautionary statement.  Pharmagen disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.


'/>"/>
SOURCE Pharmagen, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Pharmagen Announces Food and Drug Administration Registration
2. Pharmagen Announces Shift In Growth Strategy
3. CoMentis and Anvyl Announce Formation of Alpharmagen, a Joint Venture to explore Nicotinic Modulators
4. Pharmagen Announces First Quarter 2013 Results
5. Pharmagen to Present Strategic Vision for Solving Nations Parenteral Drug Shortage Crisis at 2013 BIO International Convention
6. Pharmagen Laboratories Remains Industry Leader on Patient Safety
7. Pharmagen Presents to North Carolina General Assembly at N.C. Bios Legislative Breakfast
8. Pharmagen Announces Year-End Financial Results
9. InformedDNA Partners with Three New Cancer Centers to Provide Genetic Counseling
10. Avista Capital Partners Announces a Majority Investment in Vertical Pharmaceuticals and Trigen Laboratories
11. Partnerships, Appointments, New Products, Public Offerings, and Agreements - Research Report on Questcor Pharmaceuticals, Hologic, IDEXX, Endologix, and Healthways
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/18/2017)... Jan. 18, 2017 The Philadelphia Pediatric Medical Device ... medical devices for children. The Consortium chose those ... grants of $50,000 each. The devices under development ... signals, a hand-operated rapid blood delivery system for emergency situations ... ...
(Date:1/18/2017)... , Jan. 18, 2017   Spotlight Innovation ... Caretta Therapeutics plans, in the second quarter of ... topical roll-on intended to provide relief from chronic ... steroidal analgesics. It was developed under a licensing ... commercialize products derived from snake venom. Additionally, Caretta ...
(Date:1/18/2017)... Md. , Jan. 18, 2017  Kratom ... the coffee family, are often used to prepare ... consumed by several million Americans annually to increase ... a natural remedy for minor aches and pains. ... effects is intended to assist FDA and DEA ...
Breaking Medicine Technology:
(Date:1/19/2017)... Antonio, TX (PRWEB) , ... January 19, 2017 , ... ... has for the fifth consecutive year donated money to the Triumph Over Kid Cancer ... A. Ragan was one of those children. James saw firsthand the effect of the ...
(Date:1/19/2017)... ... January 18, 2017 , ... The CHP suggests that California drivers can avoid ... slowing down and increasing the space between themselves and other vehicles, according to a ... attorney Raymond R. Hassanlou notes that, rain or shine, drivers should always incorporate safe ...
(Date:1/19/2017)... ... , ... The 21st Century Cures Act’s Impact on Medical Devices:, What You ... 1:30 p.m. – 3:00 p.m. ET, http://www.fdanews.com/21stcenturycures          , What do ... this year? , The passage of the act means devicemakers will be scrambling to ...
(Date:1/19/2017)... ... 19, 2017 , ... Infinity® Massage Chairs announced today that Dan Grover has ... marketing strategies. Grover comes with a total of 15 years experience in consumer goods ... Executive Vice President of Direct Sales at Traeger® Wood Pellet Grills. , Grover ...
(Date:1/19/2017)... ... January 19, 2017 , ... ... age-related lines and wrinkles. Few people know that popular cosmetic fillers ... Richard Buckley, who is medical director of the MilfordMD Cosmetic Dermatology Surgery & ...
Breaking Medicine News(10 mins):