AmeriSource Signs $140 Million Contract With Universal Health, LLC; AmeriSource to Provide Pharmaceuticals to Community Pharmacy Group
VALLEY FORGE, Pa.--(BW HealthWire)--April 25, 2001--AmeriSource Health Corporation (NYSE: AAS), a leading pharmaceutical distributor, today announced that it has signed a three-year agreement worth approximately $140 million annually with Universal Health, LLC, a community pharmacy group. Most of the business is incremental sales for AmeriSource.
Universal Health, LLC is a group of independent pharmacies in the Northern New Jersey and New York City Metropolitan Area which has recently re-established the "Drug Guild" brand. Under the Drug Guild name, the company provides promotional, advertising and other services for its member community pharmacies.
"AmeriSource's reputation for customer service and its commitment to community pharmacies made the difference for us," said Robert Cappa, R.Ph., President of Universal Health. "We are looking for AmeriSource to grow with us as we expand in the Northern New Jersey and New York City Metropolitan Area."
"We are excited that Universal Health chose AmeriSource, and we look forward to providing them with the local attention and service we are known for," said David Yost, AmeriSource's Chairman and Chief Executive Officer. "We are committed to the success of community pharmacists and their critical role in the delivery of healthcare." About AmeriSource
AmeriSource Health Corporation, with more than $13 billion in annualized operating revenue, is a leading distributor of pharmaceutical and related healthcare products and services, and the industry's largest provider of pharmaceuticals to the acute care/health systems market. Headquartered in Valley Forge, PA, the Company serves its base of about 15,000 customer accounts through a national network of more than 20 strategically located distribution facilities. For news and additional information about the company, visit its web site at www.amerisource.com.
Certain information contained in this press release includes forward-looking statements (as defined in Section 27A of the Securities Act and Section 21E of the Exchange Act) that reflect the Company's current views with respect to future events and financial performance. Certain factors such as competitive pressures, success of restructuring and system initiatives, market interest rates, regulatory changes, continued industry consolidation, changes in customer mix, changes in pharmaceutical manufacturers' pricing and distribution policies, the loss of one or more key customer or supplier relationships and other matters contained in the Company's 10-K for fiscal year 2000 and other public documents could cause actual results to differ materially from those in the forward-looking statements. The Company assumes no obligation to update the matters discussed in this press release.
|CONTACT:||AmeriSource Health Corporation|
|Michael N. Kilpatric, 610/727-7118|