HORIZON Pharmacies Acquires Starkscripts.com
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Denison, TX-based HORIZON Pharmacies Inc. entered the mail order and Internet markets with the acquisition of Canton, OH-based Fulton Drug and its Internet site StarkScripts.com for a combination of cash, debt and HORIZON stock.
Fulton Drug, a retail/mail order/Internet pharmacy, had 1998 sales of $5.3 million. The mail order and Internet portions of its business contributed significantly to the total revenues, HORIZON said. Financial specifics of the deal were not disclosed.
Fulton Drug's Internet site, eventually will be combined with HORIZON'S current Web site. The combined site will allow users to order prescription refills and HORIZON plans to expand the areas of over-the-counter medications, vitamins, health and beauty aids and gifts. Currently, marketing will continue through Starkscripts.com to improve overall revenues at this location, the company said.
"The purchase of a mail order and Internet pharmacy gives HORIZON a new opportunity to better serve our customers and add a new level of convenience," said Rick McCord, president and CEO of HORIZON. "The entry into this industry should allow HORIZON to market our services, build mass revenues and to be a part of the rapid growing mail order and Internet industry."