April 17, 2007
Rx Processing Corp. Acquires Canadian American Discount Meds Client Base and Storefront Location
Rx Processing Corporation (Pink Sheets: RXPC), a source of low-cost prescription medications and diagnostic laboratory tests for millions of Americans who are under-insured or have no medical insurance coverage, announces its acquisition of Canadian American Discount Meds. This valuable addition of resources will fortify the companies position and ultimately assist us in attaining our overall mission goal.
Rx Processing Corp., pleased with the terms of this acquisition, the addition of 500 new clients, continues its expansion of its current customer base. This action brings us closer to our goal of the addition of 50,000 new clients this calendar year.CEO Walt Drawta of Canadian American Discount Meds commented, "The acquisition of our client base and storefront location is yet another step towards the realization of affordable healthcare access to the under and uninsured in Florida."
Peter Fiorillo, Chairman, stated, "As we continue to expand business and establish ourselves as a leader in this industry through strong acquisitions like Canadian American Discount Meds these positive efforts will increase our revenues and subsequently enhance the returns to our shareholders."
O/S: 63,790,891 Float: 25,683,777 Shareholders: 473
Rx Processing Corp., an innovator in the distribution of pharmaceutical medications and laboratory diagnostics managed through storefront locations, is deploying a direct to consumer delivery business model that fulfills the needs of under and uninsured clients' health care needs. Our technology platform services the needs of U.S. citizens with our secure RxPC advocacy program, independent pharmacy consultant program, and ordering system for laboratory testing and prescription medications through licensed pharmacies in the United States and CLIA-certified patient service centers. The company provides access to FDA approved brand-name and generic medications, thousands of laboratory diagnostics with access to 4,000+ CLIA-certified patient service centers for specimen collection. Rx Processing Corp. estimates that more than 48 million United States citizens would benefit from these company programs.
Safe Harbor Statement:
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including those about the company's future expectations, revenues and earnings, and all other forward-looking statements (i.e. operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.