CareDecision Corp. Receives Firm Orders for $3.5+ Million in Bulk Prescription Drugs and Medical Diagnostic Products in January 2005 Tuesday February 22, 9:45 am ET
NEW YORK--(BUSINESS WIRE)--Feb. 22, 2005--CareDecision Corporation (OTCBB:CDED - News):
* $1.05 Million in Product Shipped over First 30 Days * Company Reaps Unanticipated Profit before Merger Expense * $1.5 Billion Customer Re-Affirms Relationship, Increases Product Offerings, Shipments Begin
CareDecision Corporation (OTCBB:CDED - News) provided today a first progress report on its new wholesale drug distribution operations recently acquired as part of the CareGeneration, Inc. acquisition through its Pharma Tech Solutions, Inc. subsidiary.
In one month since assuming operational control of the wholesale drug distribution unit formerly owned by Kelly Company World Group, Inc., the Company reported that it has received $3.5 million in new orders for prescription drugs, shipped over $1.05 million in the first 30 days of operations, realized positive cash flow and profit at the EBITDA level excluding merger expenses, and re-affirmed its relationship with its largest customer, a $1.5 billion Florida based distribution company who has increased its line of products it will purchase from the Company.
Robert Cox, Chairman of CareDecision commented, "January proved to be a watershed month for CareDecision. Our business performance confirmed our decision to acquire the prescription drug business from the Kelly companies as part of our acquisition of CareGeneration, Inc. In addition to realizing strong revenue growth, we have improved our gross profit margins substantially by trimming all unnecessary cost of sales and aligning our core business synergies. We also showed an unexpected positive cash flow and EBITDA profit prior to taking one time merger expenses."
Mr. Cox continued, "By expanding our wholesale drug distribution we will shortly embark on our macro mission, providing state-of-the-art technology so that physicians may efficiently fill prescriptions for America's 40+ million underinsured and uninsured. We would expect our current plans and actions to further improve our core business efficiencies and we expect that revenues will sequentially grow with gross profit margins, on a percentage achieving an industry average for retail closed-door and Internet-type pharmacies. At our current rate of growth, even as we paused to eliminate unprofitable lines of business, I feel rather confident about the ability to meet revenue guidance whereby CareDecision will be operating at a revenue run rate of $175+ million by year end."
About CareDecision Corporation
Through its subsidiary, CareDecision, already a leading Wi-Fi PDA technology product company for the medical, lodging and satellite rebroadcast industries, has concluded a merger with CareGeneration, Inc., a retail pharmaceutical programs enterprise with the mission to provide lower cost prescription drugs for the nation's 40 million underinsured and uninsured. With this acquisition the company has also acquired the wholesale pharmaceutical distribution unit formerly belonging to Kelly Co. World Group, Inc. The combined enterprises are expected to allow CareDecision to assume a leadership role in the areas of technology driven Internet pharmacy prescription fulfillment and technology enabled prescription drug distribution.
This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and sim ilar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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This is a good one, I got in earlier today.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game. Posts: 605 | From: Ontario, Canada | Registered: Feb 2005
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If the PR is accurate, this company should be worth a lot more in the near future. I'm in this morning. I have read everything and cannot find the total shares outstanding.
Posts: 100 | Registered: Feb 2005
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CDED - CAREDECISION CORP Click here to order Full Report
CareDecision Corporation 29 East 31st Street 2nd Floor New York, NY 10016 United States
Phone: 212-725-6150
Robert L. Cox, CEO/PR
SIC Number: 7363 Fiscal Year End: 12-31 Industry: Diversified Services Transfer Agent: Pacific Stock Transfer Company CIK: 1144225
Market Maker List
Share Data Authorized Outstanding Date Shares Source Date Shares Source 08/16/2004 290,000,000 10QSB 09/30/2004 224,906,421 MGFS
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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Great news just released.....this announcement provides $1 million per month in additional revenue!
CareDecision Corp. Announces Expanded Customer Agreement, Potential Pharma Acquisition, Expanded Product Lines New Agreement Provides Revenues of Over $1 Million in First Shipments, CDED Also Signs Letter to Acquire Retail Pharmacy to Support Prescription Drug Business for the Uninsured
NEW YORK, March 17, 2005 /PRNewswire-FirstCall via COMTEX/ -- CareDecision Corp., (OTC Bulletin Board: CDED) a leading Wi-Fi PDA technology provider to the lodging and satellite media industries, the developer of patent-pending technologies for e-health and EMR applications and the distributor of life-saving prescription drugs, today provided several meaningful announcements.
The Company has implemented an expanded arrangement covering additional product lines, with an existing customer, with the new arrangement providing $1 million per month in revenues to CareDecision. This arrangement covers the Company's expanded line of diabetic diagnostic products. The Company plans additional information about this customer, the agreements in place and 2005 guidance in the coming days.
"This is the first of what we expect will be many announcements of new customers agreements with large firms who have recognized the increased value of CareDecision," commented Robert Cox, Chairman of CareDecision. "Our customer, a $1.7 billion company based in Florida has begun taking delivery of maximum quantities diabetic diagnostic products. We view this as a natural extension of our prescription drug services, and we look forward to providing this to other customers with continued high-quality solutions and affordable prescription drugs."
The Company announced it has also signed a letter offer to acquire a retail pharmacy, significantly augmenting the Company's drug distribution capabilities and providing an ideal partner to accelerate its growth strategy for the provision of prescription drugs for the nation's 40-plus million uninsured and underinsured population. The pending acquisition, which includes a non-disclosure agreement, is expected to close during the second quarter. The Company also announced that it intends to acquire at least one other retail drug distribution facility in the next 60 days.
"We are moving aggressively to expand our national footprint and our drug distribution capabilities to facilitate our new and exciting strategy," Mr. Cox continued. "We are excited about this potential combination, and believe it can further expand our ability to deliver affordable prescriptions nationwide to uninsured and underinsured Americans. We are in active discussions with workers compensation pharmacy contract providers, and believe this creates a substantial opportunity for incremental growth."
About CareDecision Corp.
CareDecision Corp. is a leading provider of Internet-enhanced PDA devices applicable to healthcare, lodging, and satellite rebroadcast industries. Its proprietary ResidenceWare, MD@Hand and Satelink, technologies manage critical data, enhance productivity and e-commerce, and facilitate communication with applications in the healthcare, apartment, hotel/motel and satellite rebroadcast industries. The Company has also recently entered the prescription drug distribution channels and is currently shipping prescription drugs to a number of customers.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.
For further information, please contact: Carla Hintz, The Wells Group, (480) 391-7400 or visit the company's Web Site: www.caredecision.net .
SOURCE CareDecision Corp.
Carla Hintz of The Wells Group, +1-480-391-7400, for CareDecision Corp.
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