IRVINE, Calif., April 21 /PRNewswire-FirstCall/ -- eRXSYS, Inc. (BULLETIN BOARD: ERXI) , a customized e-script pharmacy service for pain management and related physician specialties, announced that it has entered into a joint venture agreement with TAPG LLC, which will provide funds for the build-out and working capital during the first 180 days of operations for five pharmacies to be located within the Pacific Northwest region. eRXSYS has received $670,000 and is expected to draw down the remainder of the $1,675,000 from TAPG over the next six months. The first two pharmacies in development are located in Seattle, Washington and Portland, Oregon and are expected to open during the second quarter of this year. For its participation in the joint venture, TAPG will receive 25 percent of the net earnings generated by the five pharmacies.
A.J. LaSota, president of eRXSYS, Inc. commented, “We intend to expedite the initial build-out of this dynamic business model with similar strategic alliances. As those locations prosper, we anticipate using the proceeds generated by those pharmacies to fund additional pharmacy locations which will be owned 100 percent by eRXSYS, Inc.”
About eRXSYS, Inc.
eRXSYS is servicing pain management, neurologists, psychiatric, orthopedic and oncology physicians with an e-script solution to enhance the safety of patient care. Pharmacies, fills prescriptions generated by member physicians utilizing proprietary e-prescribing technology.
Certain statements in this news release may constitute “forward-looking” statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Some of the factors that may affect the forward looking statements in this news release are the availability of licensed personnel to operate pharmacies, the availability of suitable pharmacy locations, and the acceptance of new technologies by the medical profession. Other risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission. Such forward-looking statements involve risks, uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.
For further information, please contact: David Parker, CEO of eRXSYS, Inc., +1-949-440-3248, investorrelations@eRXSYS.com; or Yvonne L. Zappulla, Managing Director of Wall Street Investor Relations Corp., +1-212-681-4108, Yvonne@WallStreetIR.com, for eRXSYS, Inc.
eRXSYS, Inc.
CONTACT: David Parker, CEO of eRXSYS, Inc., +1-949-440-3248,investorrelations@eRXSYS.com; or Yvonne L. Zappulla, Managing Director ofWall Street Investor Relations Corp., +1-212-681-4108,Yvonne@WallStreetIR.com, for eRXSYS, Inc.
