COUNSEL CORPORATION'S CHOICE DRUG SYSTEMS OPERATION ANNOUNCES CONTRACT WITH EXCELSIOR HEALTH MANAGEMENT INC.TORONTO, Ontario--(BUSINESS WIRE)--June 1, 1995--COUNSEL CORP. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CXSNF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CXS CXS Coherent X-Ray Scattering ) US Institutional Pharmacy Company To Provide Services to Excelsior's 14 Long Term Care Facilities. Choice Drug Systems Inc. (NASDAQ:DOSE) (common stock), DOSEW (warrants) announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. PremierPharmacy, Inc. signed an agreement with Excelsior Health Management, Inc. to provide institutional pharmacy services. Excelsior is the joint purchasing arm for 14 geriatric care facilities located throughout the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. and Westchester County. These 14 facilities comprise 4000 patient beds. Morris Perlis, President of Counsel Corporation, and Vice Chairman of Choice Drugs, Counsel's 27%-owned institutional pharmacy operation, that it manages, commented, "We believe that this contract is one of the largest of its kind ever signed. We anticipate that this agreement will generate approximately US $4 million in annual revenues. Further, it will increase the number of beds serviced by Choice in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area to approximately 22,000. It significantly strengthens our presence as the region's largest provider of institutional pharmacy services." Counsel Corporation has been active in the U.S. health care sector since 1983. Its 41%-owned American HomePatient Inc. (NASDAQ-AHOM) is the fourth largest diversified home health care company in the U.S. American HomePatient's primary lines of business include respiratory therapy, infusion therapy and the sale and lease of medical equipment and supplies. Choice Drug Systems is a leading provider of extended care institutional pharmacy services to nursing homes, correctional facilities and managed care organizations. Choice Drug services accounts throughout the United States. Counsel Corporation is also active in real estate management in Canada. This business is carried on by its wholly-owned subsidiary Counsel Management Services Inc. (CMSI CMSI Citicorp Mortgage Services, Inc. CMSI Checkout/Control and Monitor Subsystem Interface (NASA) ). CMSI manages Counsel Real Estate Investment Trust (TSE-REI.Un) and assets for institutions and individual owners. CONTACT: Counsel Corporation Morris Perlis, 416/866-3193 Ivan Shaffer, 416/866-3187 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion