CAPSTONE TO PROVIDE PHARMACY SERVICES TO 16 NEW JERSEY LONG TERM CARE FACILITIES; Will Add Annualized Revenues of $4 Million.BALTIMORE, Md.--(HealthWire)--Feb. 27, 1996--Allan Silber, Chairman of Capstone Pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. Services, Inc. ((Nasdaq National Market: DOSE (common stock), DOSEW (warrants)) ("Capstone") today announced that the Company has entered into an agreement to provide institutional pharmacy services to L.T.C. (Long Term Care) Management in New Jersey. L.T.C. Management represents 16 long term care facilities with approximately 3,000 patient beds. Mr. Silber said, "Once it is fully phased in, the arrangement will add over $4 million in revenues on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis to Capstone and in effect will double our business in New Jersey." Dirk Allison, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Capstone said, "L.T.C. manages model 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. institutions and has done so for many years. We are proud to have been selected to provide pharmacy services to their nursing homes and will be systematically phasing in our services during 1996. This is another important step in our growth strategy of expanding in large pharmacies This article is a list of major pharmacies (also known as chemists and drugstores) by country. Australia Pharmacies in Australia are mostly independently-owned by pharmacists, often operated as franchises of retail brands offered by the three major . The L.T.C. contract will enable us to increase the size of our New Jersey facility substantially in order to provide unmatched service." Capstone Pharmacy Services, Inc. provides extended care pharmacy services to nursing homes with over 47,000 patient beds. Capstone is also the leading provider of pharmacy services to correctional systems in the U.S. supplying over 120 prisons with 120,000 inmates in 24 states. CONTACT: Dirk Allison President (410) 646-6856 or Ivan Shaffer Senior Vice President Counsel Corporation (416) 866-3187 or Julie Vicelja LIPPERT/HEILSHORN & ASSOC ASSOC Association ASSOC Associate(d) ., INC. (212) 838-3777 |
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