digiMedical Solutions, Inc. Enters Into Letter of Intent With Hospital Business Concepts to Sell Harrington's Acquisition's Phar
June 11 2008 - 9:42AM
Marketwired
DALLAS, TX today announced the Company has entered into a
non-binding letter of intent (LOI) to sell Harrington's Acquisition
Inc.'s pharmacy chain to Hospital Business Concepts. Harrington's
Acquisition Inc. is wholly owned by digiMedical. In preparation for
this sale, digiMedical has taken recent steps to ready the affected
markets. To reduce operational overhead in the Company's pharmacies
without losing market share, digiMedical combined pharmacies. In
Dallas, Texas, the Company combined their downtown Dallas pharmacy
into the Dallas Forest Park pharmacy. Similarly, digiMedical
combined their North Naples, Florida, pharmacy into the downtown
Naples pharmacy. With these consolidations, overhead was reduced
without impacting market reach. The remaining three Harrington's
pharmacy locations in Naples and Ft. Myers, Florida, and Dallas,
Texas, will be sold to Hospital Business Concepts pending further
due diligence as outlined in the LOI.
digiMedical's Future Focus and their Microsoft-based Digital
Medical Technology
digiMedical is only selling the pharmacies and is not selling
the Company's proprietary digital medical technologies. digiMedical
will release a letter to shareholders shortly detailing the sale of
the pharmacies and updating shareholders on the future direction
and singular focus of the digital medical technology of the
company.
digiMedical Prescription Handling Software
digiMedical Solutions, a Microsoft Partner, with operations in
Texas and Florida, has built its own suite of proprietary software
to handle prescriptions digitally from the physician's office to
the pharmacy, securely and in compliance with all DEA and HIPAA
requirements. The suite of software includes digiRX, digiRxStream,
digiReauth, digiRxComp, and digiAccounting.
Company Updates and Information
To be added to digiMedical's corporate e-mail list for
shareholders and interested investors or to receive information on
the company, please send an e-mail to ir@digimedical.com.
About digiMedical Solutions, Inc.(TM)
digiMedical Solutions, Inc.(TM) (www.digimedical.com) is a
pharmacy and medical technology company focused on developing next
generation digital medical technology with an emphasis on digital
prescriptions (d-Prescriptions) that will more closely align the
doctor, pharmacist and patient. The company's planned growth will
come from three channels: direct marketing of the company's
wireless base d-prescription technology to doctors, acquisition of
independent pharmacy chains and the sale of certain territories to
"market partners" licensed to exploit the digiMedical Solutions(TM)
model. digiMedical Solutions, Inc.(TM) currently owns and operates
five (5) pharmacies located in Texas and Florida. digiMedical
Solutions'(TM) unique business model brings doctor, patients and
pharmacies into next generation medical technologies.
Forward-Looking Statement
Statements included in this press release which are not
historical in nature, are intended to be, and are hereby identified
as "Forward-Looking Statements" for purposes of safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-Looking Statements may be identified by words
including "anticipate," "await," "envision," "foresee," "aim at,"
"believe," "intends," "estimates" including without limitation,
those relating to the company's future business prospects, are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those indicated in the
Forward-Looking Statements. Readers are directed to the company's
filings with the U.S. Securities and Exchange Commission for
additional information and a presentation of the risks and
uncertainties that may affect the company's business and results of
operations.
Contact: digiMedical Solutions, Inc. Investor Relations
ir@digimedical.com 214-722-3029
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