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Allion
Healthcare, Inc. Signs Letter of Intent to Acquire
MELVILLE, NY, March 16, 2006 – Allion Healthcare, Inc. (“Allion”) (NASDAQ: ALLI), a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients, announced today that it has signed a letter of intent to purchase certain assets, including customer lists, books and records, files and goodwill and other tangible and intangible assets, from Whittier Goodrich Pharmacy, Inc. ("Whittier") for approximately $20.0 million in cash. Whittier has unaudited 2005 revenue of approximately $30 million based on Whittier internal financial statements. The letter of intent specifies that Allion and Whittier will work toward a binding agreement by March 31, 2006. This date may be extended upon the mutual consent of both parties.
"We are delighted to announce our intention to purchase the assets of Whittier Goodrich Pharmacy, which will be our second acquisition in 2006," commented Mike Moran, Allion's President and Chief Executive Officer. "This acquisition represents an excellent opportunity for Allion. Whittier is a leading HIV pharmacy in the Los Angeles market with a strong presence in the HIV community. This will give us the opportunity to provide Whittier's patients with continued high quality service."
Located in Los Angeles, CA, Whittier Goodrich Pharmacy provides specialized pharmacy care to people with long-term medical conditions such as HIV/AIDS. Founded in 1998, Whittier prides itself on the relationship, healthier lifestyle and improved quality of life it provides to its client members.
About Allion Healthcare, Inc. Allion Healthcare, Inc. is a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients. Allion Healthcare sells HIV/AIDS medications, ancillary drugs and nutritional supplies under the trade name MOMS Pharmacy. Allion offers nationwide pharmacy care from its pharmacies in California, New York, Washington, and Florida. Allion Healthcare works closely with physicians, nurses, clinics, AIDS Service Organizations, and with government and private payors, to improve clinical outcomes and reduce treatment costs for patients.
Safe Harbor Statement Certain
statements included in this press release, which are not historical
facts, are forward-looking statements. Such forward-looking statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent our expectations or beliefs and involve certain
risks and uncertainties, including those described in our public filings
with the United States Securities and Exchange Commission; also
including, but not limited to, competitive pressures, changes in
customer mix, changes in third party reimbursement rates, changes in
government regulations or the interpretation of these regulations,
growth opportunities, cost savings, revenue enhancements, synergies and
other benefits anticipated from acquisition transactions, difficulties
relative to integrating acquired businesses, the accounting and tax
treatment of acquisitions, and asserted and unasserted claims, which
could cause actual results to differ from those in the forward- looking
statements. The forward-looking statements by their nature involve
substantial risks and uncertainties, certain of which are beyond our
control, and actual results may differ materially depending on a variety
of important factors. You are cautioned not to place undue reliance on
these forward- looking statements that speak only as of the date herein. Contact:
Jim Spencer, Chief Financial Officer (631) 870-5126
The Ruth Group Francesca DeMartino, Investor Relations(646) 536-7024; fdemartino@theruthgroup.com Back to Top Back to Press Releases Back to Allion Home |