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HORIZON Pharmacies, Inc.
Signs Letter of Engagement with
Southwest Securities to Act as
Financial Advisor
DENISON, TX., August 10, 2000/PRNewswire/--HORIZON Pharmacies, Inc.
announced today that it has signed an engagement letter with Southwest
Securities to act as exclusive financial advisor to HORIZON with respect to
explore strategic alternatives involving HORIZON. Southwest Securities has
been retained to provide advisory services, including general business and
financial analysis of HORIZON.
Rick McCord, CEO and President of the Company, stated, "Our company's
primary objective is to enhance shareholder value with strategic
alternatives. These alternatives are consistent with the company's long term
strategic plan, such as consolidation of the retail pharmacy industry."
Currently, HORIZON owns and operates one Internet pharmacy at
www.horizonscripts.com, two mail order pharmacies, 48 retail pharmacies in 17
states, 16 home medical equipment locations, five closed-door institutional
pharmacies, seven intravenous (IV) operations, and one home healthcare
agency.
HORIZON 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. 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 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 we have 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 our success in addressing 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 HORIZON'S web site at www.horizonrx.com or
www.horizonscripts.com
(HZP)
