![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, November 11, 2013 8:41:53 AM
ScripsAmerica Takes Equity Position in Tennessee Distributor Wholesale Rx
Investment Expected to Significantly Increase Revenues by Expanding Pharmaceutical Distribution into New States
TYSONS CORNER, Va., Nov. 11, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that it has agreed to invest in Wholesale Rx "WRx" in exchange for an equity position in the company.
ScripsAmerica and WRx, a Tennessee-based pharmaceutical distributor, entered into a sales and financing agreement in August of this year to provide independent pharmacies with prescription drugs. The endeavor has generated $318,026 during its initial three months, demonstrating faster revenue growth than expected. The funds from ScripsAmerica's investment will be used to expand WRx's business by obtaining licenses that will permit the company to distribute pharmaceuticals in additional states.
"We are very pleased to announce this positive development to our shareholders. The rapid revenue growth and tremendous potential of WRx's pharmaceutical distribution business have caused Scrips' decision to increase our investment in their operation. By obtaining licenses to distribute prescription drugs in additional states, we believe we can quickly replicate our current success and significantly accelerate revenue growth in this area of our business," stated CEO of ScripsAmerica, Bob Schneiderman.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and nutraceutical drugs, delivering pharmaceutical products to a wide range of end users across the health care industry. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. For more information, visit www.ScripsAmerica.com. .......enjoy your day longterm investors,tryz
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=93925379
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM