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.”
HORIZON owns and operates 50 retail pharmacies in small towns in 16 states,
13 home medical equipment locations, five institutional pharmacies, five
intravenous infusion operations, two home healthcare agencies and a wholesale
operation.
