Bergen Brunswig Drug Company Announces Five-Year Contract With Comprehensive Pharmacy Services
The agreement, effective February 1, 2001, is expected to generate incremental revenue of more than $400 million over the life of the contract.
"We are very proud to announce this new relationship with CPS, a respected partner whose key strategies for growth are closely aligned with our own," said Doug Swanson, president, BBDC Health Systems. "We have a unique opportunity to expand each other's offering and market reach and generate incremental earnings beyond the base distribution value."
According to CPS president Louis P. Bradley, the agreement reflects CPS' confidence in Bergen's core competencies and long history of service excellence.
"Ultimately, we were compelled by Bergen's strategic orientation and demonstrated capabilities that go well beyond service excellence," Bradley said. "This new relationship creates powerful possibilities for both organizations."
Don Clarfeld, executive vice president, BBDC Health Systems, added, "We expect to leverage the synergies within our clinical and pharmacy business solutions areas to provide consulting programs and improved service to CPS's growing customer base. This agreement adds to our portfolio and further differentiates each company's competitive offering to the marketplace."
Comprehensive Pharmacy Services, Inc. provides expert pharmacy outsourcing and management services to more than 100 acute care, specialty and correctional facilities nationwide. Information is available on the company's website at www.cpspharm.com.
Bergen Brunswig Corporation, headquartered in Orange County, California, is a leading supplier of pharmaceuticals and specialty healthcare products as well as information management solutions and consulting services. Bergen's customers include the nation's healthcare providers (hospitals, nursing homes and physicians) drug stores, manufacturers and patients. Through its subsidiaries, Bergen provides product distribution; logistics; pharmacy management programs; and Internet fulfillment strategies designed to reduce costs and improve patient outcomes across the entire healthcare spectrum. Bergen Brunswig press releases are available on the company's website at www.bergenbrunswig.com.
Except for historical information, all other information set forth in this press release, such as earnings forecasts and earnings rate projections consists of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking statements" are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those projected or implied. Such statements may be identified by the use of forward-looking language such as "may," "will," "should," "expect," "anticipate," "estimate," "believe," "think," "continue" or the negatives or other variations thereof or other similar terminology. Such risks and uncertainties include the risks described in exhibit 99(a) to the Company's Annual Report on Form 10-K for the year ended September 30, 1999 and in other reports and exhibits filed with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, the costs and difficulties related to the integration of acquired businesses, the loss or disruption of one or more key customer or supplier relationships, changes in the distribution outsourcing pattern for pharmaceutical products and/or services, the ability to obtain general financing or financing rates that would be compatible with the Company's business operations, and the costs and other effects of governmental regulation and legal and administrative proceedings. The Company assumes no obligation to update the information in the release.
Bergen Brunswig press releases are available on the company's website at www.bergenbrunswig.com