CompScript enters into negotiations to acquire mail order 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. , Fla.--(BUSINESS WIRE)--August 5, 1996--CompScript, Inc. (Nasdaq Small Cap Issues: CPRX), a comprehensive provider of pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. services which lower costs and improve the quality of care, today announced that it has entered into negotiations to provide for the acquisition of SecuRx, Inc. SecuRx, Inc. is a privately-held provider of mail order 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 insurers, self-insured companies and third party administrators. CompScript believes SecuRx's annual revenues will be in excess of $4 million for 1996. Whether the acquisition will, in fact, occur will depend on various contingencies and there can be no assurances that the acquisition will occur. Further information regarding these negotiations was not disclosed. CompScript, Inc. is a pharmaceutical health care company providing integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. to the 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. , sub-acute care, home care, mail order and pharmacy benefits management market. The Company has over 30,000 participating pharmacies in its nationwide pharmacy networks. All forward looking information are estimates by the Company's management and are subject to various risks and uncertainties that may cause results to differ from management's current expectations. Such factors include the Company's ability to close pending acquisitions; changes in healthcare regulations and reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. policies; increased competition; and other risks as detailed from time to time in the Company's SEC reports and filings. CONTACT: CompScript, Inc. The Equity Group Inc. Brian A. Kahan Devin Sullivan, 212/836-9608 407/994-8585 Robert Goldstein, 212/371-8660 |
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