American Hospital Resources Acquires Rx Solutions, Inc.Business Editors/Health/Medical Writers SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--May 13, 2003 American Hospital Resources (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMHR AMHR American Miniature Horse Registry ) announced the acquisition of Mississippi-based Rx Solutions, Inc. As a licensed closed-door pharmacy and Medicaid provider, Rx Solutions, Inc. provides long-term pharmaceutical outsourcing and related pharmacy consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to patients in over 1000 long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. beds within Mississippi and Alabama. Based on audited financial statements for the year ended December 31, 2002, Rx Solutions, Inc. posted 2002 revenues of $4,157,000 with a net profit of $284,166, an increase of more than 300% over the previous year. Daniel Myers Rph., co-founder of Rx Solutions, Inc. stated, "The trend toward consolidation in the pharmacy outsourcing industry has been accelerating in recent years. Our association with AMHR has already brought us improved buying efficiencies that should translate into even better profit margins. We look forward to being part of the AMHR team and embrace the goal of building a national pharmacy outsource network dedicated to quality patient services." Christopher Wheeler, founder and Chief Executive Officer of AMHR stated, "Rx Solutions, Inc. is one of the most efficient and quality-oriented pharmacy operations in the country. Rx Solutions Co-founders, Daniel Myers Rph. and Robert Lang Rph., each have over 20 years of pharmacy experience and carry stellar reputations for providing the highest quality services. Their understanding of the relationship between client service and client retention will serve as a cornerstone for AMHR to build a strong regional presence in this expanding long-term care market within the southeast region." Mr. Wheeler went on to say, "We feel that American Hospital Resources, Inc. has identified and targeted one of the highest growth sectors of the American economy. With 77 million baby boomers See generation X. approaching retirement, the prospects for patient growth in the long-term care industry is enormous. The American Health Care Association The American Health Care Association (AHCA) is non-profit federation of affiliated state health organizations, together representing more than 10,000 non-profit and for-profit assisted living, nursing facility, developmentally-disabled, and subacute care providers that care for ("AHCA AHCA Agency for Health Care Administration AHCA American Health Care Association AHCA American Hockey Coaches Association AHCA American Highland Cattle Association AHCA Australian Health Care Agreement AHCA Austin Healey Club of America ") reported that in 1999 nearly 1.5 million Americans were patients in the nation's 17,000 skilled nursing homes, with an average length of stay in 1996 of 2.3 years per patient. With the average age and life span of Americans increasing and the rapid development of new drugs, the opportunities to serve our aging population can only increase. With the increased complexity of reporting and insurance compliance, the industry is increasingly turning to pharmacy outsourcing to free it to focus on its main goal, quality patient care." Except for historical information contained herein, the matters discussed in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risk and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company's revenues, operations, markets, products and prices and other factors discussed in the company's various filings with the Securities Exchange Commission. |
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