Assured Pharmacy Obtains Pharmacy Registration For Kansas City Location
FRISCO, Texas, Oct. 10, 2011 /PRNewswire/ — Assured Pharmacy, Inc. (Pink Sheets:APHY.PK), a leading specialty pharmacy group providing prescription medications to more than 3,000 sufferers of chronic pain, announced that it has obtained a pharmacy license from the State of Kansas State Board of Pharmacy for its fifth specialty pharmacy, to be located in the Kansas City, Kansas MSA. The build-out of the Kansas City pharmacy space is now complete, and it is slated to open during the Fourth Quarter of 2011. It will join the Company’s existing pharmacies in Irvine and Riverside, California; Seattle, Washington; and Portland, Oregon.
The granting of the license by the State of Kansas legally authorizes the Company to establish and maintain the pharmacy. Prior to commencing operations, Assured Pharmacy must obtain additional licensing, obtain national provider identification numbers, and establish third-party payor and supply wholesaler contracting.
Robert DelVecchio, CEO of Assured Pharmacy, said, “Obtaining the pharmacy license is the trigger to the final phase of the pre-opening process for our Kansas City location. The project remains on schedule and we look forward to completing the remainder of this process and being able to serve the needs of the physicians and pain patients in this area of the country.”
The Kansas City pharmacy will employ staff trained to work with physicians’ offices in the surrounding region to ensure that the prescription process for pain medications is handled in an optimal manner. Its services are designed to reduce doctors’ exposure to liability triggered by fraudulent scripts of schedule II and III medications.
About Assured Pharmacy, Inc.
Assured Pharmacy, Inc. is engaged in the business of providing specialty pharmacy services to patients and physicians in the treatment of chronic pain. The Company derives its revenue primarily from the sale of highly regulated prescription pain medications and does not keep in inventory non-prescription drugs or health and beauty related products inventoried at traditional pharmacies. The majority of the Company’s business is derived from repeat business from its customers. “Walk-in” prescriptions from physicians are limited. The Company currently has four operating pharmacies.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company’s ability to increase revenue and profits in the current economic climate; the effect of changing economic conditions; lack of sufficient financing for opening new pharmacies; inability to manage growth; and changes in government regulations, controls and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Assured Pharmacy, Inc.