MELVILLE, N.Y., Aug. 4 /PRNewswire-FirstCall/ -- Allion Healthcare, Inc. , announced today that it has agreed to purchase at the close of business on August 5, 2005, selected assets and assume certain liabilities from Frontier Pharmacy & Nutrition, Inc., a California corporation doing business as PMW Pharmacy, Inc. As a result of the acquisition, the Company expects to provide specialty pharmacy and disease management services to PMW Pharmacy’s customers. Allion will acquire PMW for a total consideration of approximately $9.7 million in cash in an asset acquisition and will service these patients out of Allion’s Torrance, California facility.
“We are excited about our acquisition of PMW,” said Michael Moran, President and Chief Executive Officer of Allion Healthcare. “We remain committed to pursuing strategic acquisitions and extending our specialty HIV pharmacy and disease management services. The addition of PMW increases our customer base in Los Angeles California, allowing us to offer high quality care to additional HIV/AIDS patients.”
About Frontier Pharmacy / PMW
Frontier Pharmacy / PMW is a specialty pharmacy based in Long Beach, California that specializes in HIV pharmacy services. PMW is recognized for providing a high level of service to patients suffering from HIV/AIDS. Frontier Pharmacy / PMW reported unaudited revenue of approximately $24 million for the twelve months ended December 31, 2004.
About Allion Healthcare, Inc.
Allion Healthcare, Inc. is a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients. Allion Healthcare sells HIV/AIDS medications, ancillary drugs and nutritional supplies under the trade name MOMS Pharmacy. Allion offers nationwide pharmacy care from its pharmacies in California, New York, Washington, and Florida. Allion Healthcare works closely with physicians, nurses, clinics, AIDS Service Organizations, and with government and private payors, to improve clinical outcomes and reduce treatment costs for patients.
Safe Harbor Statement
Certain statements included in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our expectations or beliefs and involve certain risks and uncertainties, including those described in our public filings with the United States Securities and Exchange Commission; also including, but not limited to, competitive pressures, changes in customer mix, changes in third party reimbursement rates, changes in government regulations or the interpretation of these regulations, growth opportunities, cost savings, revenue enhancements, synergies and other benefits anticipated from acquisition transactions, difficulties relative to integrating acquired businesses, the accounting and tax treatment of acquisitions, and asserted and unasserted claims, which could cause actual results to differ from those in the forward- looking statements. The forward-looking statements by their nature involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors. You are cautioned not to place undue reliance on these forward- looking statements that speak only as of the date herein.
Allion Healthcare, Inc.
CONTACT: Jim Spencer, Chief Financial Officer of Allion Healthcare, Inc.,+1-631-870-5126; or Francesca DeMartino, Investor Relations Consultant ofThe Ruth Group, for Allion Healthcare, Inc., +1-646-536-7024,fdemartino@theruthgroup.com
Web site: http://www.allionhealthcare.com//