ScripsAmerica Enters Into Investment Banking Consulting Agreement With Implex Corporation
NEW CASTLE, Del., Jan. 14, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company has entered into an Investment Banking Consulting Agreement with Implex Corporation (Implex), headquartered in Jensen Beach, FL.
The consulting agreement has an initial term of six months whereby Implex will provide ScripsAmerica with corporate, business and investment banking services, including the analysis and the rendering of advice on the Company's current corporate and financial structures as well as its need for capitalization.
In addition, Implex will assist ScripsAmerica in any negotiations and structuring of the sale and/or purchase of businesses, mergers, strategic alliances or distribution agreements as well as advise on the sale of any securities in the public market.
"2013 is going to be a very positive and pivotal year for ScripsAmerica as we plan to launch our RapiMed line of children's pain reliever, finalize the acquisition of our pharmaceutical distributor, explore opportunities to continue our organic growth and increase shareholder value. For these reasons, we have engaged Implex Corporation to provide ScripsAmerica with a full range of investment banking services such as financial analysis and advice as well as introductions to the appropriate players in the investment community that can help ensure our success during this anticipated period of significant growth," stated Bob Schneiderman, CEO of ScripsAmerica.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. delivers pharmaceutical products to a wide range of end users across the health care industry, including physicians' offices, retail pharmacies, long-term care sites, hospitals, and Government and home care agencies through the largest pharmaceutical distributor in North America, McKesson Corporation. Current therapeutic categories serviced by the Company include pain, arthritis, prenatal, urinary, and hormonal replacement drugs. Other customers of ScripsAmerica include Cardinal Health, Curtis Pharmaceuticals, MedVet and the United States Veterans Administration.
For more information please visit: www.ScripsAmerica.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.