Message #6 From:
NewsBot Date: September 1, 2005 05:31:00 AM
ITPD News RxFS Announces Letter of Agreement for PBM Services with ProCare Rx
HOUSTON--(BUSINESS WIRE)--Sept. 1, 2005--Rx Fulfillment Services, Inc. ("RxFS"), a wholly owned subsidiary of Intrepid Holdings, Inc. (OTCBB:ITPD) today announced that it has entered into a Letter of Agreement with ProCare Rx one of the nations leading Pharmacy Benefits Administrators to provide administrative services for RxFS Prescription Drug Plan customers.
As one of the nations leading Pharmacy Benefits Administrators, ProCare Rx provides services to major chains and manages annual drug benefits exceeding $600 million dollars. Also, their technology and support services have become industry standard benchmarks in providing PBM services.
This Letter of Agreement allows RxFS to be able to offer and implement PBM services to customers with the support of one of the leading companies in the industry. In addition, this positions RxFS to aggressively pursue state, local, and federal prescription benefit contracts.
"This is an important milestone in the development of our company," stated Toney Means, CEO of RxFS. "RxFS now offers complete Pharmacy Management Services to its customers, which include mail order and retail pharmacy services through a network of over 55,000 pharmacies," added Means.
This press release contains various forward-looking statements and information, including management's expectations of revenues, earnings per share, operating margins and growth in certain markets that are based on management's belief as well as assumptions made by and information currently available to management. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions including, among other matters, changes in market conditions, availability of funding and competition for venture capital investments. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. For a discussion of the risks, investors are urged to refer to the company's reports filed under the Securities Exchange Act of 1934.
