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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 14, 2000
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HORIZON PHARMACIES, INC.
(Exact name of Registrant as specified in its charter)
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DELAWARE 000-22403 75-2441557
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of incorporation) Identification Number)
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531 W. MAIN STREET
SUITE 100 75020
DENISON, TEXAS (Zip code)
(Address of principal
executive offices)
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Registrant's telephone number, including area code: (903) 465-2397
NOT APPLICABLE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On March 14, 2000, HORIZON Pharmacies, Inc., a Delaware corporation
("HORIZON"), entered into a Fulfillment and Guaranty Agreement (the
"Agreement") with InformedScripts.com, Inc. ("Informed"). The Agreement
provides that HORIZON shall be the exclusive fulfillment agent for all orders
of home medical equipment, prescription drugs, over-the-counter drugs and
over-the-counter health and beauty products received by Informed's Internet
pharmacy for an initial period of approximately three years. Also, in exchange
for being designated the exclusive fulfillment agent of Informed, HORIZON
makes certain guarantees with respect to the sales of products to be sold by
Informed and fulfilled by HORIZON and the net profits to be generated from
such sales. The Agreement is effective until June 30, 2003.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS
10.1 - Fulfillment and Guaranty Agreement, dated March 14, 2000,
between HORIZON Pharmacies, Inc. and InformedScripts.com, Inc.
99.1 - March 31, 2000 Press Release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this current report to be signed on its behalf
by the undersigned thereunto duly authorized.
HORIZON PHARMACIES, INC.
By: /s/ John N. Stogner
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John N. Stogner
Chief Financial Officer
Date: April 4, 2000
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EXHIBIT INDEX
EXHIBIT
NUMBER EXHIBIT TITLE
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10.1 - Fulfillment and Guaranty Agreement, dated March 14, 2000, between
HORIZON Pharmacies, Inc. and InformedScripts.com, Inc.
99.1 - March 31, 2000 Press Release
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FULFILLMENT AND GUARANTY AGREEMENT
This Fulfillment and Guaranty Agreement (the "Agreement") dated this
14th day of March, 2000, between HORIZON Pharmacies Inc. ("Horizon") and
InformedScripts.com, Inc. ("Informed") shall be to establish a three (3) year
program for the fulfillment by Horizon of orders for prescription and OTC drugs,
home medical equipment and OTC health and beauty care products received by
Informed's Internet pharmacy and any Internet pharmacy operated by any affiliate
of Informed (collectively referred to herein as the "Pharmacy"). The parties
hereto agree as follows:
1. MERCHANDISE
For purposes hereof, "Merchandise" shall comprise all home medical
equipment, prescription drugs, OTC drugs and OTC health and beauty care
products normally stocked by Horizon's pharmacies.
2. TERM
The term of this Agreement shall commence on the date of this Agreement
and end on June 30, 2003 (unless terminated earlier pursuant hereto),
and during such period Informed agrees to designate Horizon as its
fulfillment house for the filling of Merchandise orders and to purchase
from Horizon substantially all of the requirements of its Pharmacy for
Merchandise covered hereunder. Informed agrees to designate Horizon as
its exclusive fulfillment house for the filling of all of its
Pharmacy's prescription drug and OTC drug needs.
3. ORDERING AND DELIVERY
A. Upon receipt of a Merchandise order, Informed shall transmit such order
electronically to Horizon at [email protected]. Upon receipt of such
electronic order, Horizon shall fill the order and ship it directly to
the customer pursuant to the method of delivery designated in such
order from its location at 531 W. Main Street, Denison, Texas 75020
(the "Horizon Designated Shipping Center"). Orders received by Horizon
by 8:00 p.m. local time will be shipped the next Business Day. For the
purposes of this Agreement, a "Business Day" shall mean any day other
than a Saturday, a Sunday or a holiday on which national banking
associations in the State of Texas are closed.
B. Informed hereby covenants and agrees that it shall require any customer
placing an order with Informed to pay, at the time such order is
placed, to Informed the price for that order by credit card, or other
debit arrangement. Informed shall confirm receipt of payment at the
time it transmits such order to Horizon for fulfillment.
C. All costs of shipping to customers of Informed will be charged to
Informed's Federal Express account or other billing service number.
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D. Upon shipping an order, Horizon shall send electronically to Informed a
purchase order confirmation with a detailed listing of Merchandise
filled.
E. Horizon agrees to maintain a 95% service level to Informed's Pharmacy
for Merchandise, tested on a monthly basis. Service level is defined as
total lines ordered (partial lines included) less total omit lines
(ordered but not filled). Items that manufacturers are unable to
supply, manufacturer back-orders, product recalls, same item ordered
again within 72 hours, items the manufacturer has discontinued, and new
items with no inventory demand shall be excluded from the service level
calculation.
4. PAYMENT TERMS
A. Informed shall pay to Horizon for each order fulfilled by Horizon
pursuant to this Agreement an amount equal to the sum of (a) Horizon's
actual cost for the Merchandise delivered in fulfillment of the order
(the "Cost"), and (b) 60% (hereinafter, the "Margin Percentage") of the
excess of the gross proceeds actually received by Informed for the
purchase of such order over the Cost; provided, however, that the
Margin Percentage owed to Horizon may, for any 12-month period ended
March 31st, be adjusted downward (but not upward) on a retroactive
basis pursuant to Section 7 below.
B. Payment for Merchandise delivered to Informed's customers by Horizon
shall be paid by Informed as follows: Invoices dated from the 1st to
the 15th of the month are due and payable on the 15th day of the
following month. Invoices dated from the 16th to the end of the month
are due and payable on the last day of the following month.
C. Any payments made after the due date indicated herein shall result in a
two percent (2%) (or the maximum amount permissible under applicable
law, if lower) increase in the purchase price of the Merchandise. A one
percent (1%) service charge (or the maximum amount permissible under
applicable law, if lower) will be imposed semi-monthly on all balances
delinquent more than fifteen (15) days. If payment is due on a date
other than a Business Day, the payment due date will be the Business
Day immediately following any such date.
D. Informed hereby grants to Horizon a security interest covering the
proceeds of all Merchandise sold and shipped to Informed's customers by
Horizon to secure repayment of amounts due Horizon under this
Agreement. Informed agrees to execute from time to time such financing
statements as Horizon may request for the purpose of perfecting
Horizon's security interest.
E. This Agreement is conditioned upon Informed not being in default under
the terms of its financing agreements throughout the term hereof, and
to that end Informed agrees to promptly substantiate in writing, at
Horizon's request, the existence of such condition with annual audited
and quarterly unaudited financial statement and any other supporting
information required by Horizon.
F. Horizon reserves the right, in its sole discretion, to change a payment
term or limit total credit, if (i) Horizon reasonably concludes there
has been a material adverse change in Informed's financial condition or
an unsatisfactory payment performance; or (ii) Informed
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is in default under the terms of any of its financing agreements.
Upon the occurrence of any of the events of default specified above
in (i) or (ii) of this Section, Horizon shall allow a five (5) day
period from receipt of written notice of default to cure the default
before changing the payment terms. During that period, Informed must
adhere to its normal buying patterns. If the default is not cured
after five days, Horizon will change the payment term to limit its
risk, but will continue to ship product for thirty (30) days before
suspending or discontinuing shipment of any additional orders to
Informed customers.
5. MERCHANDISE AND PRICE UPDATES
Horizon will provide Informed updates as to its Merchandise offered and
cost as soon as practicable after the receipt of notification of any
changes thereto, in order that Informed may post changes to its product
and price lists.
6. RETURNED GOODS
Credits will be issued by Horizon to Informed for any of the following
reasons:
(1) Pricing errors, shipping errors and billing errors;
(2) Recalls; and
(3) Customer returns due to concealed damage.
An invoice number or order number shall be required in each of the
above-specified instances, except recalls, for full credit. Such
credits shall be issued by Horizon to Informed within a reasonable
amount of time after (i) receipt by Horizon of the invoice or order
number or (ii) written notification of a recall.
7. GUARANTY
A. In exchange for its designation as the exclusive fulfillment agent of
Informed, Horizon hereby agrees to guaranty the Gross Sales (as
defined) and Pretax Profit (as defined below) of Informed as follows:
(a) For the period ended June 30, 2001, Gross Sales of Informed
will be no less than $18,000,000.00 and Pretax Profit of
Informed will be no less than $1,250,000.00;
(b) For the twelve month period beginning July 1, 2001 and ended
June 30, 2002, Gross Sales of Informed will be no less than
$22,000,000.00 and Pretax Profit of Informed will be no less
than $1,750,000.00; and
(c) For the twelve month period beginning July 1, 2002 and ended
June 30, 2003, Gross Sales of Informed will be no less than
$30,000,000.00 and Pretax Profit of Informed will be no less
than $2,500,000.00.
B. As of the end of each period designated above, if either the Gross
Sales or the Pretax Profit for that period is less than the guaranteed
amounts, Horizon will take the following actions to remedy such
shortfall:
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(a) If the Gross Sales amount has been met but there is a
shortfall for Pretax Profits for such period, Horizon shall
either (i) retroactively reduce the Margin Percentage payable
to Horizon hereunder for such period to the minimum extent
necessary to (when combined with any additional Pretax Right,
generated by the allocation of sales pursuant to clause (ii)
hereof) increase the Pretax Profits of Informed for such
period to equal the guaranteed amount set forth above, and/or
(ii) allocate sales (and the revenues generated therefrom) on
its own Internet pharmacy business or, if necessary, its
retail pharmacy store business to Informed during the next two
calendars months in an amount necessary to (when combined with
the effects of any reduction in the margin percentages) reduce
such shortfall to zero.
(b) If the Pretax Profit amount has been met but there is a
shortfall for Gross Sales for such period, Horizon shall
assign the economic benefit of sales (and the revenues
generated therefrom) of its own Internet pharmacy business or,
if necessary, its retail pharmacy store business to Informed
during the next two calendars months in an amount equal to
such shortfall. Any such sales shall be treated for all
purposes of this Agreement as sales made to Informed customers
pursuant hereto, and Informed shall owe Horizon any amounts
due under Section 4 in connection therewith. In paying over
any revenue amounts to Informed pursuant to this Section 7,
Horizon is hereby expressly authorized to offset against any
such gross revenue amounts the amounts due and owing Horizon
pursuant to Section 4 in respect of such sales.
(c) If for any such period there is a shortfall for both the
Pretax Profit amount and the Gross Sales, Horizon shall first
assign the economic benefit of sales of its own Internet
pharmacy business or, if necessary, its retail pharmacy store
business to Informed during the next two calendars months in
an amount equal to the shortfall of Gross Sales. After such
Gross Sales shortfall is met, the Pretax Profit of Informed
shall be recalculated for such period (and for this purpose
any Pretax Profit attributable to sales allocated to Informed
pursuant to this Section 7B shall be deemed to have been
earned by Informed during such period). Upon such
recalculation, if there remains a shortfall in Pretax Profits
for such period, Horizon shall either (i) retroactively reduce
the Margin Percentage payable to Horizon hereunder for such
period to the minimum extent necessary to (when combined with
any additional Pretax Right, generated by the allocation of
sales pursuant to clause (ii) hereof) increase the Pretax
Profits of Informed for such period to equal the guaranteed
amount set forth above, and/or (ii) allocate sales (and the
revenues generated therefrom) on its own Internet pharmacy
business or, if necessary, its retail pharmacy store business
to Informed during the next two calendars months in an amount
necessary to (when combined with the effects of any reduction
in the margin percentages) reduce such shortfall to zero.
(d) For the purposes of this Agreement, Informed's Gross Sales for
any period means the aggregate gross purchase price of all
Merchandise orders processed by or on behalf of Informed
during such period, assuming in each instance that the
purchase price paid by Informed's customers for such
Merchandise is no less than the full retail price charged by
Horizon to its customers for the same Merchandise.
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(e) For the purposes of this Agreement, Informed's Pretax Profit
for any period means the excess of (i) its aggregate Gross
Sales for such period over, (ii) any amounts due and owing to
Horizon pursuant to Section 4 of this Agreement in connection
with such sales.
The parties hereto agree that the remedies set forth in Sections 7(a),
(b) and (c) above shall be Informed's sole and exclusive remedy in the
event of a shortfall of Gross Sales or Pretax Profits.
8. DEFAULT AND REMEDIES
A. Either of the following events shall constitute an "Event of Default":
(i) failure of either party to make any payments within five (5) days
of when due in accordance with the terms of this Agreement shall
constitute a default; (ii) any breach by either party of a material
non-monetary provision of the Agreement or any other agreement between
Informed and Horizon (i.e., a provision not requiring the payment of
money), which is capable of being cured and has not been caused by any
action or omission of the other party, shall constitute a default if
not cured to the reasonable satisfaction of the other party within
sixty (60) days after the giving of written notice of such breach by
the non-breaching party. Such written notice shall specify the nature
of the breach and be accompanied by calculations and other appropriate
materials to substantiate the allegation of breach in order for the
alleged breach to be verified if necessary.
Upon default by either party the non-breaching party may, at its
option, terminate the Agreement immediately without further notice and
pursue any remedy available to it under this Agreement, at law or in
equity or any combination thereof.
B. Either party may, on ten (10) days notice, terminate this Agreement:
(i) If the other party shall file any petition under any
bankruptcy, reorganization, insolvency or moratorium laws, or
any other law or laws for the relief of or in relation to the
relief of debtors; or
(ii) If the other party shall file any involuntary petition under
any bankruptcy statute or a receiver or trustee shall be
appointed to take possession of all or substantial part of the
assets of the party which has not been dismissed or terminated
within sixty (60) days of the date of such filing or
appointment; or
(iii) If the other party shall make a general assignment for the
benefit of creditors or shall become unable or admit in
writing its inability to meet its obligations as they mature;
or
(iv) If the other party shall institute any proceedings for
liquidation or the winding up of its business other than for
purposes of reorganization, consolidation or merger.
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C. Horizon may terminate this Agreement with no notice if Informed.com
fails to make on or before June 12, 2000 the principal and interest, if
any, payment due and owing to Horizon pursuant to that certain
Promissory Note, dated March 14, 2000, issued by Informed.com to
Horizon in the original principal amount of $1,500,000.
D. In the event of a termination hereunder the following continuing
obligations and liabilities shall survive termination and remain in
full force and effect:
(i) Liability for any payment due hereunder to the other party at
the date of or upon the occurrence of such termination; and
(ii) Obligations imposed on each party under the Proprietary and
Confidentiality Information section set forth below.
9. PROPRIETARY AND CONFIDENTIAL INFORMATION
A. Any and all accounts, records, books, files, and lists regarding any
transaction provided for or contemplated hereunder, shall be
confidential and proprietary to the party creating or generating such
information. This Agreement, and the terms and conditions hereof, are
confidential. The parties expressly agree to maintain such terms and
conditions in confidence, and shall take every precaution to disclose
the contents of this Agreement only to those employees of each of the
parties who have a reasonable need to know such information.
B. Informed and Horizon each acknowledge that, in connection with their
respective businesses, they have developed certain operating manuals,
symbols, trademarks, trade names, service marks, trade secrets,
customer lists, procedures, formulas, and other patented, copyrighted,
or legally protected materials which are confidential and proprietary
to each of them.
C. Neither party may disclose the terms of this Agreement during the term
hereof and for an additional period of twenty-four (24) months
following the effective date of expiration or other termination of this
Agreement. Furthermore, except upon the prior written consent of the
other party, neither party may divulge, disclose, communicate, or use
any of the other party's confidential or proprietary information
generally described in Subsection A and B above, in any manner or for
any purpose, including, without limitation, use in advertising or for
promotional materials, except upon the prior written consent of the
other party. A party hereto may refuse consent to the use of its
confidential or proprietary information for any or no reason. In the
event that any such confidential or proprietary information is used
during the course of this Agreement it shall retain its confidential
and proprietary nature and shall be returned immediately to its owner
or destroyed upon termination of this Agreement. Notwithstanding
anything herein to the contrary, nothing in this subsection shall
require either party to maintain in confidence any information,
materials, or data which is in the public domain, enters the public
domain through no fault of such party, was in possession of the party
prior to being furnished to it by the other, was supplied to the party
by a third party or parties lawfully in possession thereof, which is
required to be disclosed to the Securities and Exchange Commission or
other commission or agency regulating the activities of either party or
which the party is required to divulge pursuant to process of any
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judicial or governmental body of competent jurisdiction, provided that
notice of receipt of such process is given to the other.
10. FORCE MAJEURE
If shipping from the Horizon Designated Shipping Center is interrupted
or delayed because of strike, lockout, labor dispute, fire or other
casualty, or any other reasons beyond the reasonable control of
Horizon, Horizon will take such action as may be reasonably necessary,
without additional cost or expense to Informed, to maintain service as
mutually agreed upon to Informed's customers from an alternate Horizon
location. Any adverse effects upon Informed's performance of this
Agreement occurring as a result of the events described in this section
shall not in any way be considered a breach of this Agreement.
11. NOTICES
All notices pertaining to this Agreement shall be delivered in person,
sent by certified mail, delivered by air courier, or transmitted by
facsimile and confirmed in writing (sent by air courier or certified
mail) to a party at the address or facsimile number shown in this
Section, or such other address or facsimile number as a party may
notify the other party from time to time. Notices delivered in person,
and notices dispatched by facsimile prior to 4:00 p.m. and confirmed,
shall be deemed to be received on the day sent. All other facsimiles
and notices shall be deemed to have been received on the business day
following receipt; provided, however, if such day falls on a weekend or
legal holiday, receipt shall be deemed to occur on the next business
day. Notices may also be transmitted electronically between the
parties, provided that proper arrangements are made in advance to
facilitate such communications and provide for their security and
verification.
IF TO HORIZON: IF TO INFORMED:
HORIZON Pharmacies Inc. InformedScripts.com, Inc.
531 W. Main Street c/o Informed.com, Inc.
Denison, Texas 75020 4404 Ivy Commons II
Route 250 West
Charlottesville, VA 22903
Attention: Rick McCord Attention: Michael R. Kerouac
President President
Fax: (903) 465-6769 Fax: (804) 977-6217
12. MISCELLANEOUS
A. This Agreement embodies the entire agreement between the parties with
regard to the subject matter hereof and supersedes all prior
agreements, understandings and representations of the parties with
respect to the subject matter hereof. This Agreement may not be
modified, supplemented or extended except by a writing signed by both
parties.
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B. Except as provided above in Section 15, neither party shall have any
obligation hereunder for failure or delay of performance due to fire,
shortage of materials or transportation, government acts, or any other
cause beyond its control.
C. Neither party shall have the right to assign this Agreement or any
interest therein without the prior written consent of the other party,
and any such attempted assignment shall be without effect, except that
either party may, without the consent of the other, assign this
Agreement to an affiliate of such party and except that this provision
shall not be applicable to any corporate reorganization of either
party, including but not limited to any merger, reincorporation or sale
of a significant portion of either party's assets.
D. This Agreement shall be construed in accordance with the State of Texas
without regard to the rules regarding conflict of laws.
E. The failure of either party to enforce at any time or for any period of
time any one or more of the provisions thereof shall not be construed
to be a waiver of such provisions or of the right of such party
thereafter to enforce each such provision.
F. If any federal, state, or local tax currently or in the future (e.g.
Minnesota Care Tax) is levied upon Horizon in a jurisdiction where
either Horizon or Informed does business and such tax relates or
applies to the Merchandise and or any applicable service fees covered
by this Agreement (excluding taxes imposed on Horizon's net income),
the Cost of prescription drugs or OTC drugs sold pursuant to this
Agreement will be increased a corresponding percentage amount.
G. If and to the extent any product discounts, rebates or other purchasing
incentives are earned by or granted to Informed and paid by Horizon
under this Agreement, then applicable provisions of the
Medicare/Medicaid and state health care fraud and abuse/antikickback
laws and regulations (collectively, "fraud and abuse laws") may require
disclosure of the applicable price reduction on Informed's claims or
cost reports for reimbursement from governmental or other third party
health care programs or provider plans. Informed agrees to comply with
all applicable provisions of the fraud and abuse laws and to indemnify
and hold Horizon harmless for any failure on its part to do so.
H. Horizon shall be entitled to set off any delinquent amount owing from
Informed to Horizon after either of the five day cure periods
referenced in Sections 4.F. and 8.A. against any amount payable at such
time by Horizon to Informed, whether arising under this Agreement or
otherwise. For purposes of this Section, Informed and Horizon in each
case shall include its subsidiaries and affiliates.
I. Whenever possible, each provision of this agreement shall be
interpreted so as to be effective and valid under applicable law, but
if any provision of this Agreement should be prohibited or invalid
under applicable law, such provisions shall be ineffective to the
extent of such prohibition or invalidity without invalidating the other
of such provision or the remaining provisions of this Agreement. The
parties agree to replace any such invalid provision with a new
provision which has the most nearly similar permissible economic
effect.
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J. The section headings contained in the Agreement are for reference
purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.
K. This Agreement may be executed in any number of counterparts, and each
such counterpart hereof shall be deemed an original instrument, but all
such counterparts together shall constitute one agreement.
L. Horizon and Informed agrees to conduct an annual business review of the
supply arrangement created by this Agreement ("Annual Review") which
shall occur throughout the term hereof during the month immediately
preceding the anniversary of the commencement date of this Agreement.
The purpose of this Annual Review shall be to allow the parties to
discuss then current market conditions or other competitive
considerations which are directly related to the parties' existing
business relationship and to discuss the appropriateness of an
adjustment to the Margin Percentage set forth in Section 4.
[SIGNATURE PAGE TO FOLLOW]
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IN WITNESS WHEREOF the parties have caused this Agreement to be duly
executed as of the date and year first written above and the persons signing
warrant that they are duly authorized to sign for and on behalf of the
respective parties.
HORIZON PHARMACIES INC. INFORMEDSCRIPTS.COM, INC.
By: /s/ Ricky D. McCord By: /s/ Ricky D. McCord
----------------------------- -----------------------------
Ricky D. McCord Ricky D. McCord
President President
Solely for the purpose of guaranteeing the payment of any amounts due and owing
Horizon Pharmacies, Inc. pursuant to Section 4 hereof, the undersigned executes
this Agreement as of the date written below.
INFORMED.COM, INC.
By: /s/ Michael R. Kerouac
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Michael R. Kerouac
President
Date: March 14, 2000
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HORIZON PHARMACIES, INC.
FORMS STRATEGIC ALLIANCE WITH
INFORMED.COM
DENISON, TX., March 31, 2000/PRNewswire/--HORIZON Pharmacies, Inc.
(AMEX: HZP) today announced that it has formed a strategic alliance with
Informed.com (www.informed.com) to sell to Informed.com a newly organized
subsidiary corporation d/b/a InformedScripts.com. InformedScripts.com will
be purchased by Informed.com for $5.5 million, which includes a combination
of 2.0 million shares of Informed.com common stock and $1.5 million in cash.
Both parties will take equity positions and will receive warrants and/or
options to purchase common stock in each other's respective companies.
HORIZON has also entered into an agreement with Infomed.com to develop
a virtual Internet pharmacy ("VIP") application that will serve as the
foundation of a comprehensive Web-based prescription fulfillment, health and
wellness center. This alliance includes the design and development of a VIP
kiosk, which could be placed in grocery stores, corporate infirmaries or
other strategic locations and would allow prescription processing and video
conference access to a pharmacist. The VIP application will be interfaced
and integrated with HORIZON'S current computerized pharmacy system and the
new Internet pharmacy, www.horizonscripts.com.
-----------------------
Informed.com will receive revenues from its subsidiary,
InformedScripts.com, and HORIZON will facilitate supervision of the
operation. The alliance also establishes HORIZON as the exclusive
fulfillment center for prescription medicines for InformedScripts.com, and
HORIZON will serve as a pharmacy consulting resource for the newly-formed
company. As strategic partners, both Informed.com and HORIZON have agreed to
market and re-market products and services on each company's web sites and on
other web sites that each company operates.
Rick McCord, President and CEO of HORIZON, states, "The combination of
our current brick and mortar foundation, strategic alliances such as the one
with Informed.com and the new and innovative virtual pharmacy kiosk currently
in development with Informed.com will generate a new avenue for global
revenue growth. This alliance is a dynamic portion of our strategic plan to
create a new "brick and click" company positioned for the future. These
alliances, complemented with our base of over one million customers and our
prescription fill rate, which exceeded 2.5 million prescriptions in 1999,
will lead our company into the e-commerce industry. Informed.com's
experienced management team and their innovative ideas will be a tremendous
asset to us in the e-commerce arena."
Michael Kerouac, President and CEO of Informed.com, adds, "This
alliance is the beginning of a powerful relationship that will combine the
power of Internet health resources with meaningful and necessary medicines
and services. I expect that clients of both companies, especially those
clients in small towns and rural areas, can take advantage of access to the
integration of health products and services for maintaining wellness and
managing illness."
Informed.com is based in Orlando, FL and maintains offices in
Charlottesville, VA, Denver and Fort Collins, CO. The company is a leading
provider of software and consulting solutions that
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provide medical expertise and care to people around the world isolated by
geography, economic conditions or physical limitations.
Currently, HORIZON owns and operates 51 retail pharmacies in 17 states,
15 home medical equipment locations, five closed-door institutional
pharmacies, five intravenous (IV) operations, one home healthcare agency, one
mail order pharmacy, and one Internet pharmacy (www.horizonscripts.com).
----------------------
HORIZON Pharmacies, Inc. acquires, consolidates and operates high
volume, free-standing full-service retail pharmacies primarily located in
communities that have populations of fewer than 50,000 people, and it
operates an Internet pharmacy. HORIZON believes that its success is
primarily due to its philosophy of retaining the individual, time-proven
customer service characteristics of the stores it acquires, while enabling
such stores to offer complete and competitively priced inventories to their
small town customers through enhanced technology, greater purchasing power,
increased advertising and management of such stores as a chain.
THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS CONCERNING THE
FUTURE PERFORMANCE OF HORIZON PHARMACIES, INC., WHICH ARE SUBJECT TO A NUMBER
OF FACTORS OVER WHICH IT HAS NO CONTROL. FORWARD-LOOKING INFORMATION
INCLUDES STATEMENTS CONCERNING PHARMACY SALES TRENDS, ONLINE PHARMACY SALES
TRENDS, PRESCRIPTION MARGINS, NUMBER OF NEW STORE OPENINGS, THE LEVEL OF
CAPITAL EXPENDITURES AND ITS SUCCESS IN ADDRESSING ANY REMAINING YEAR 2000
ISSUES; AS WELL AS THOSE THAT INCLUDE OR ARE PRECEDED BY THE WORDS "EXPECTS,"
"ESTIMATES," "BELIEVES," OR SIMILAR LANGUAGE. FOR A MORE COMPLETE DISCUSSION
OF THE RISKS ASSOCIATED WITH AN INVESTMENT IN HORIZON AND FOR ADDITIONAL
INFORMATION PLEASE REFER TO THE REPORTS ON FILE WITH THE SECURITIES AND
EXCHANGE COMMISSION.
SOURCE: HORIZON Pharmacies, Inc.
CONTACT: Rick McCord of HORIZON Pharmacies, Inc. at
903-465-2397/FAX903-465-6769.
For more information, visit our web site at www.horizonrx.com and at
www.horizonscripts.com. -----------------
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(HZP)
