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HORIZON HEALTHCARE ANNOUNCES THE ESTABLISHMENT OF A PHARMACY SUBSIDIARY

 HORIZON HEALTHCARE ANNOUNCES
 THE ESTABLISHMENT OF A PHARMACY SUBSIDIARY
 ALBUQUERQUE, N.M., May 28 /PRNewswire/ -- Horizon Healthcare Corp. (NYSE: HHC) today announced the incorporation of National Institutional Pharmacy Services Inc., a wholly owned subsidiary of Horizon Healthcare. National Institutional Pharmacy Services will initially provide institutional pharmacy services to nursing facilities not affiliated to Horizon Healthcare and expand to serving Horizon facilities at a later date.
 Commenting on the formation of national Institutional Pharmacy Services, Neal Elliott, Horizon's chairman and chief executive officer said, "The development of a wholly owned pharmacy, through National Institutional Pharmacy Services Inc., is consistent with our plan to become one of the leading providers of institutional pharmacy services in the country. We will develop a network of regionally based institutional pharmacies using common systems and procedures. Horizon Healthcare Corporation's ability to view pharmacy services from a providers' perspective and its strong ties with owners and operators of long term care facilities around the country gives Horizon a significant marketing advantage. Our excellent results from our pharmacy joint ventures have prepared us well for expansion of this service. At the present time, our combined pharmacy operations consist of 9,550 beds served."
 Charles Gonzales, senior vice president and member of the board of directors will be directly responsible for the creation and growth of this venture. National will commence operations as of June 1, 1992. The first new contracts are for 1,000 non-affiliated beds in Houston. With the commencement of operations in Houston, Horizon's total pharmacy operations will consist of 10,550 beds served.
 Horizon Healthcare, headquartered in Albuquerque is a leading provider of quality long-term healthcare which includes nursing homes, subacute hospitals, Alzheimer care, and related ancillary services. As of May 28, 1992, the company operated 61 long-term care centers with a total of 6,102 beds in seven states, and two joint venture institutional pharmacies serving 9,550 beds.
 -0- 5/28/92
 /CONTACT: Michael H. Seeliger of Horizon Healthcare, 505-881-4961/
 (HHC) CO: Horizon Healthcare Corp.; National Institutional Pharmacy
 Services Inc. ST: New Mexico IN: HEA SU:


MC-BB -- DV002 -- 4763 05/28/92 12:42 EDT
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Publication:PR Newswire
Date:May 28, 1992
Words:352
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