CompScript common stock now marginable company acquires Campo's Medical Pharmacy.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , FL--(BUSINESS WIRE)--March 4, 1997--CompScript, Inc. (Nasdaq SmallCap Market: CPRX), a provider of integrated 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 to the long-term and sub-acute care industries, today announced that shares of its common stock may be purchased on margin, effective February 10, 1997. As per the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. , CompScript common stock now has loan value under Regulation T, permitting brokers and dealers to make margin loans using the Company's common stock as collateral. Brian Kahan, President and Chief Executive Officer of CompScript, stated, "We believe that the marginability of our common stock will facilitate broker transactions while positioning CompScript as a more attractive investment opportunity." The Company also announced that it has completed the acquisition of Campo's Medical Pharmacy, a Metarie, Louisiana-based provider of institutional pharmacy services to long-term and sub-acute care facilities throughout southern Louisiana. Campo's operates profitably and posted 1996 annual revenues of approximately $3.2 million. Terms of the proposed acquisition, which is being accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. , were not disclosed. Brian Kahan, President and Chief Executive Officer of CompScript, stated, "This acquisition has strengthened our presence in the southeastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and reflects our overall expansion strategy of providing integrated pharmacy services to contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. regions." This press release contains forward looking statements which involve numerous risks and uncertainties. Actual results could differ materially from those anticipated in such forward looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission. CompScript, Inc. is a comprehensive provider of pharmacy management services to managed care networks, long-term and sub-acute care facilities, home health patients and recipients of managed care. These services include pharmacy services and pharmacy benefits management, infusion therapy, mail order and consulting. CONTACT: CompScript, Inc. Brian A. Kahan, Chief Executive Officer John F. Chiste, Chief Financial Officer (561) 994-8585 or INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. COUNSEL: The Equity Group Inc. Devin Sullivan, (212) 836-9608 Robert Goldstein, (212) 371-8660 |
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