American Hospital Resources to Acquire Quantum Pharmacy Alliance.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)--Oct. 3, 2002 American Hospital Resources (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMHR AMHR American Miniature Horse Registry ) today announced the signing of a Letter of Intent to acquire Dallas-based Quantum Pharmacy Alliance Ltd., a Texas limited partnership. Quantum is a pharmaceutical-purchasing co-operative whose members are independent pharmacy An independent pharmacy is a retail pharmacy that is not directly affiliated with any chain pharmacy, such as CVS/pharmacy, Walgreens or Eckerd. However, owners of independent pharmacies will often form alliances with other independents and use their power in numbers to bargain for operators that service various alternate care settings such as nursing homes, sub-acute care facilities and correctional facilities. Through its buying agreements, Quantum members purchase approximately $120 million of pharmaceuticals and related medical supplies annually. Quantum's founder and general partner, Dr. Robert Della Valle explained, "The decision made by the Quantum Partners to join with American Hospital Resources Inc. was well supported by our members. We were very impressed that American Hospital Resources Inc. shares our vision for the pharmacy-outsourcing industry and are equally impressed with their commitment to providing quality service. By pooling purchasing and technical resources with AMHR our members will become stronger competitors in the marketplace." Christopher Wheeler, the chief executive officer of American Hospital Resources Inc., said, "We are delighted with Quantum's decision to join with AMHR and excited about the growth prospects of this extremely well-positioned buying group. AMHR and Quantum share a commitment to the future of the pharmacy-outsourcing industry. Our mutual vision and dedication to quality service and cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. is the cornerstone of our joining together. Quantum's members represent the elite of this highly fragmented healthcare sector, and as such have become both a powerful buying group and a significant force in the cost-efficient modernization of the pharmaceutical delivery system." Wheeler went on to say, "We intend to make Quantum's existing Dallas offices AMHR's corporate headquarters, and will provide an operating hub from which American Hospital Resources will execute its pharmacy outsourcing rollup strategy. Dr. Della Valle is one of the best known and most widely respected executives in the pharmacy-outsourcing industry. I look forward to working with him, and other Quantum associates. His 20 years of hands on senior management experience in building successful pharmacy-outsourcing companies and his extensive experience in leading pharmacy-related merger and acquisition activities will form a cornerstone of American Hospital Resources' industry rollup." American Hospital Resources Inc. focuses on the acquisition and consolidation of successful pharmacy-outsourcing businesses and materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, outsourcing companies List of Outsourcing Firms<ref name="who" /> Revenue (USD) Logo Company Headquarters Country of Largest Employment Service $3300 million . The company also offers healthcare management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and financial restructuring services. Pharmacy outsourcing is a highly fragmented segment of the healthcare industry and appears to be ripe for consolidation. "Management believes that this operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. and acquisition strategy will provide a compelling reason for independent operations to join the AMHR team. The appeal of AMHR is based on the demographics of our aging population and the strong growth in prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, usage. The medical needs of an aging American population and the growing needs of healthcare providers to contain costs and streamline operations form the cornerstone of the AMHR business plan. Consolidated buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. gained by its acquisition of Quantum should allow AMHR to immediately access best pricing and optimal purchasing terms from the top pharmaceutical and medical materials suppliers. The addition of Quantum should make AMHR the standout `supplier of choice' for hospitals and long term care facilities nationwide," Wheeler continued. Except for historical information contained herein, the matters discussed in this news release are forward-looking statements 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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