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EXHIBIT 99.1
[HEALTHCENTRAL LOGO]
HealthCentral.com Completes Acquisition of DrugEmporium.com
HCEN Gains Bricks and Mortar Partner and New Distribution Center
Emeryville, Calif. - September 18, 2000 - HealthCentral.com (Nasdaq: HCEN), a
leading online provider of healthcare e-commerce (www.healthcentralrx.com) and
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content (www.healthcentral.com) today announced the completion of its
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acquisition of the assets of DrugEmporium.com, the Internet subsidiary of Drug
Emporium, Inc. (Nasdaq: DEMP). Assets acquired by HealthCentral.com include the
DrugEmporium.com website with all related software and hardware, a leased 60,000
square foot distribution center and automated prescription fulfillment center
located in Louisville, Kentucky, and at least $3 million in inventory and cash.
HealthCentral.com will close its warehouse in Long Island City, New York this
week and will consolidate all warehousing and distribution operations in the
Company's newly acquired warehouse in Louisville, conveniently located next to
the United Parcel Service hub. The majority of DrugEmporium.com's operations in
Columbus, Ohio have been consolidated into HealthCentral.com's Emeryville
headquarters, however, a small Columbus office will remain in place primarily
for purchasing activities.
"The story here is our acceleration to `P2P' - our path to profitability," says
Albert Greene, President and CEO of HealthCentral.com "Besides owning the #1
ranked health content site and #1 ranked prescriptions site, we now have new
revenue streams, both online and off. We'll be doing our own dispensing and
distribution. And, we'll have significantly lower product costs."
HealthCentralRx.com customers placing online orders will have the ability to
pick up those orders at their neighborhood Drug Emporium store, including same-
day pick-up of acute care prescription orders. HealthCentral.com and Drug
Emporium also executed a 10-year Services Agreement that provides for joint
promotional and advertising opportunities, access to the Drug
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Emporium purchasing system and buying power, and various other synergies between
the two companies. The Services Agreement also provides revenue sharing
opportunities based on transactions involving both the 172 Drug Emporium stores
and HealthCentral.com online customers.
Under the terms of the asset purchase agreement, Drug Emporium, Inc. received
preferred stock from HealthCentral.com convertible into 2.4 million common
shares, and the opportunity to potentially earn several million additional
shares if certain revenue targets are met based on current DrugEmporium.com
initiatives and programs that are in the early stages of implementation.
HealthCentral.com will assume approximately $2 million in current liabilities
and certain capital lease obligations of DrugEmporium.com, primarily made up of
certain trade accounts payable and certain hardware/software leases.
On Friday, August 25, 2000, DrugEmporium.com announced that it received the
prestigious Verified Internet Pharmacy Practice Sites(TM) (VIPPS) certification
from the National Association of Boards of Pharmacy, the NABP. The VIPPS program
was designed by the NABP as a means of providing consumers with reliable means
to more easily identify those online pharmacies that have proven their ability
and authorization to dispense pharmaceuticals to the public in the U.S.
About HealthCentral.com
HealthCentral.com (Nasdaq: HCEN) is a leading provider of online healthcare
e-commerce and content to consumers through a network of sites, including
HealthCentral.com, Vitamins.com, HealthCentralRx.com, RxList.com, and
HealthCentral.ca. Currently ranked the #1 Overall Health Content Site according
to Gomez(TM), HealthCentral.com provides user-friendly interactive tools,
customized health information pages, personalized health risk assessments and
topical newsletters. Together, HealthCentralRx.com and Vitamins.com offer more
than 37,000 SKUs of health, beauty and personal care products.
HealthCentral.com's newly acquired site DrugEmporium.com is currently ranked the
#1 Overall Prescription Site according to Gomez(TM). HealthCentral.com also
acts as an applications service provider to hospitals, hospital groups and
healthcare organizations for health e-commerce and content.
About DrugEmporium.com
DrugEmporium.com was the first online drugstore when it debuted in 1997 and is a
full-service online drugstore and pharmacy licensed to fill prescriptions in all
50 states, offering round-the-clock e-mail access to its pharmacists. Recently
ranked the #1 Internet Prescription site according to Internet rating and review
authority Gomez(TM), the Company currently sells more than 25,000 items,
including prescription and non-prescription medications, nutrition and wellness
products, cosmetics, health and beauty items, and household necessities. Drug
Emporium, Inc. (Nasdaq :DEMP) owns and operates 133 brick-and-mortar stores
under the names Drug Emporium, F&M Super Drug Stores and Vix Drug Stores. All
brick-and-mortar stores operate full-service pharmacies and specialize in
discount-priced merchandise including health and beauty aids, cosmetics and
greeting cards. The Company also franchises an additional 39 stores under the
Drug Emporium name. Drug Emporium, Inc. is headquartered in Powell, Ohio.
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Forward Looking Statements
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Except for historical information, the statements in this news release are
forward-looking statements, involving risks and uncertainties that could cause
actual results to differ materially from those in such forward-looking
statements. Potential risks and uncertainties include, but are not limited to,
the Company's limited operating history and need to generate revenues, the
substantial competition in the ehealth market, possible liability related to
content on or accessed through the Company's Web sites, the need to build a
brand name quickly, the effect of substantial and changing government
regulation, possible systems interruptions, a failure to integrate acquisitions
or manage growth, and a failure to attract and retain key employees. Further
information regarding these and other risks is included in HealthCentral.com's
Form 10-K for the year ended December 31, 1999, its Form 10-Q for the quarter
ended June 30, 2000 and its other filings with the Security and Exchange
Commission.
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For Information, Contact:
Media Contact:
Joanne Papini
HealthCentral.com
Phone: 510-250-3860
[email protected]
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Financial Contact:
Robin Raborn
Director of Investor Relations
HealthCentral.com
Phone: 510-250-3852
[email protected]
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www.ir.healthcentral.com
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Drug Emporium, Inc.
Terry Moore
Chief Financial Officer
Phone: 740- 548-7080 Ext 2151
[email protected]
www.DrugEmporium.com
