AmerisourceBergen Corporation (NYSE:ABC) today announced that it
has signed a definitive agreement to purchase MedSelect, Inc., a
privately held provider of automated medication and supply dispensing
cabinets for $13.4 million in cash, including assumed debt. The
purchase price will be subject to certain adjustments to be determined
as of the closing of the transaction. The transaction is expected to
close shortly.
"We are pleased to add MedSelect to our existing complement of
proven pharmacy automation and medication administration solutions,"
said R. David Yost, Chief Executive Officer of AmerisourceBergen.
"MedSelect's product lines have applications across our entire
institutional customer base, and will further our strategy of offering
fully scalable and flexible technology solutions."
"We are excited to bring our experience serving hospitals, and
long term care facilities to AmerisourceBergen," said Bob Rasmussen,
President and Chief Executive Officer of MedSelect. "AmerisourceBergen
shares our philosophy of bringing market-leading, cost effective, and
fully scalable solutions to healthcare providers to help them improve
efficiency and quality of care."
AmerisourceBergen already offers value added services that support
medication dispensing and tracking from the loading dock to the
patient's bedside, including AutoMed's pharmacy automation solutions
and Bridge Medical's bedside verification systems. The addition of
MedSelect expands the offerings to include an integrated suite of
automated dispensing systems for pharmaceutical and medical supplies
through an array of customizable, modular and secure computerized
cabinets. The cabinets are linked to a centralized database network
that tracks cabinet inventory, usage by patient, usage by provider,
and other critical data.
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) is the largest pharmaceutical
services company in the United States dedicated solely to the
pharmaceutical supply chain. It is the leading distributor of
pharmaceutical products and services to the hospital market,
physician's offices, alternate care and mail order facilities, and
independent and chain pharmacies. The Company is also a leader in the
long term care pharmacy marketplace, the workers' compensation
fulfillment business and contract packaging for manufacturers. With
more than $45 billion in annualized operating revenue,
AmerisourceBergen is headquartered in Valley Forge, PA, and employs
more than 14,000 people. AmerisourceBergen is ranked #24 on the
Fortune 500 list and was ranked #6 in the 2003 Business Week 50, a
list of the 50 best performing companies in the S & P 500. For more
information, go to www.amerisourcebergen.com.
About MedSelect, Inc.
MedSelect, Inc., with offices in Alpharetta GA, and Cranberry
Township PA, is an innovator in the automated medication dispensing
and materials management segments of the healthcare industry. Since
1993, MedSelect has provided automated medication dispensing to
healthcare facilities. MedSelect, Inc. was formerly the MedSelect
Systems division of Diebold Incorporated. Diebold continues to provide
field service and technical support nationwide from its 400 local
service offices. MedSelect provides clinicians with the fastest access
to medications through equipment that is the most modular and scalable
in the industry. MedSelect products include bar code scanning and
verification, medication orders interface, and unit dose dispensing.
These features enable healthcare facilities to reduce medication
errors, operate more efficiently, and decrease costs--ultimately
contributing to improved clinical and financial outcomes. For more
information please visit www.medselectsystems.com.
FORWARD-LOOKING STATEMENTS
This news release may contain certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained in the forward-looking
statements. Forward-looking statements may include statements
addressing future financial and operating results of AmerisourceBergen
and the benefits and other aspects of the 2001 merger between
AmeriSource Health Corporation and Bergen Brunswig Corporation.
The following factors, among others, could cause actual results to
differ materially from those described in any forward-looking
statements: competitive pressures; the loss of one or more key
customer relationships; customer insolvencies; changes in customer
mix; changes in pharmaceutical manufacturers' pricing and distribution
policies; regulatory changes; changes in U.S. government policies;
failure to integrate the businesses of AmeriSource and Bergen Brunswig
successfully; failure to obtain and retain expected synergies from the
merger of AmeriSource and Bergen Brunswig; and other economic,
business, competitive, regulatory and/or operational factors affecting
the business of AmerisourceBergen generally.
More detailed information about these factors is set forth in
AmerisourceBergen's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for fiscal 2003.
AmerisourceBergen is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward looking
statements whether as a result of new information, future events or
otherwise.
CONTACT: AmerisourceBergen Corporation, Valley Forge
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation