Park Pharmacy Corp. Aquires 100% of Rx-Pro.Com, Inc.; Internet Subsidiary Processing Over 10,000 Prescriptions Per Month to Go National.DALLAS--(BUSINESS WIRE)--April 13, 1999-- Jim Rambin president of Power-Cell Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:POCE POCE Pantone Open Color Environment ) and Thomas Baker president of Park Pharmacy Corp. announced the signing of a Definitive Agreement for Park Pharmacy Corp. to acquire 100% of the outstanding stock of Rx-Pro.Com, Inc. Rx-Pro.Com, Inc. is a nation-wide Internet based Pharmacy Network able to deliver rapid, professional, high tech prescription medication and support to home and hospice patients. Rx-Pro.Com currently has 200 Independent Pharmacies participating in its network serving a population of over 3,000 hospice patients and processing over 15,000 prescriptions per month. By creating the Internet Service Delivery system Rx-Pro.Com hopes to capture at least 10% of the 21,000 Independent Pharmacies as service providers in the network by year end. Each member of the Rx-Pro.Com network is a DEA DEA - Data Encryption Algorithm , FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and State agencies licensed and approved Independent Pharmacy. This makes it possible to deliver prescription services over the internet on a same day basis from your local Pharmacist, your personal Doctor and process your 3rd party insurance payment with no postage or UPS fees. Rx-Pro.Com has been in operation for the last three years as Hospice Pharmacy Alliance LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and has been successfully serving the central U.S. through its network of community based Independent Pharmacies via a dial up network. The Company name was changed to Rx-Pro.Com, Inc. in order to reflect the new Internet operating system. By adapting to the internet Rx-Pro.Com is now able to expand its service network nationally. "Unlike the start-up internet pharmacies, our network members have deep experience and access to existing customers," says Thomas Baker, president of the parent company Park Pharmacy Corp. "While our on-line competitors are experimenting with their first mail-order prescriptions, we are processing Doctors orders, clearing 3rd party insurance payments and delivering prescription medication on a same day basis direct to the patient's home." Rx-Pro.Com's focus on the high tech markets for intravenous prescription medication applications along with specially compounded and pain management prescriptions, created by both the increasing use of day surgery and the extended use of out patient treatment, has positioned the Company to take advantage of higher profit margins. The Company operates two World Wide Web sites to sell prescription medication and provide information. www.Rx-Pro.Com will provide consumer drug information along with the opportunity to purchase a full line of Durable Medical Equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: Surgical opening in the body, or the operation creating it, usually to allow discharge of wastes through the abdominal wall. It may be temporary, to relieve strain on damaged organs, or permanent, to replace normal channels congenitally missing or surgically removed products and wound care supplies. The Web page will also provide comprehensive information on a wide variety of drugs, vitamins and herbs including the ability to check for interactions between prescription drugs and non-prescription products. Links will be provided to medical information libraries and disease state organizations such as Kidney Health, Heart Associations, Centers for Aging and many others. The Web site will also provide a secure "PIN" protected page that allows the members of the professional community to order Prescription medication for home delivery directly to the patient. www.HospiceRx.com provides information and medical records management to the Hospice and long term care medical professionals. By using this Web site Hospice care providers are able to order medication, adjudicate adjudicate ( v the payment claim, receive Doctors approval and maintain patient care information on a real time basis with medication being delivered the same day. The HospiceRx.com Web site also supplies information to the non professional care giver regarding home hospice care and give this person links to books, products and support groups that will make their job easier. Rx-Pro.Com, Inc. will operate as a 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. of Park Pharmacy Corp. In an earlier news release it was reported that Power-Cell, Inc. has acquired 100% of the outstanding stock of Park Pharmacy Corp. for 80% of the outstanding stock of Power-Cell, Inc. in a tax free exchange. It is anticipated that upon the completion of shareholder approval of the transaction in a specially called meeting that the company will change its name to Park Pharmacy Corp. and apply to 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 for a new trading symbol Trading symbol See: Ticker symbol . Until that time the stock will continue to trade on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). under the symbol of POCE. Certain information included in this release contains statements that are forward-looking, such statements relating to the future anticipated direction of this industry, plans for future funding sources, planned capital expenditures, anticipated sales growth and potential contracts. These forward statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. |
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