Medbox Announces Plans for a New Division and New Product Line for 2013
Company also projects 4-year growth rate of over 450%
HOLLYWOOD, Calif., Oct. 18, 2012 /PRNewswire/ -- Medbox, Inc. (Pinksheets: MDBX) (www.medboxinc.com) announced a major new division and product line for 2013. The company also released financial projections through 2016.
Within the next few weeks, the company will spin off a new division called Medbox RX™, to focus on the pharmaceutical sector. Medbox RX will offer their medication storage and retrieval systems, and automated medicine dispensing units to pharmacies, assisted living facilities, prisons, hospitals, urgent-care centers, doctors' offices, and large retail chains.
The company is developing three new systems that will be marketed exclusively by Medbox RX™. These systems will all employ Medbox's proprietary software and patented biometric fingerprint recognition technologies.
Sample-Safe™ is a new, patent pending, system that stores and dispenses medicine samples within doctors' offices. The innovative design allows for customized configurations so that patients can view product and healthcare information on an LED screen, and samples of medications can be dispensed to staff and given to patients based on pre-selected parameters. This wall-mounted unit is for use in doctor's offices where samples of prescription medications could be misappropriated. The unit offers unparalleled inventory control through the use of biometrics and an unalterable internal record keeping system. Additionally, with Sample Safe™, pharmaceutical companies can educate patients about their products within a doctor's office - providing the patient with a better understanding of their condition and possible treatment options, in the optimal setting while they are meeting with their healthcare provider.
Lockbox Rx™ is a patented medication storage and retrieval system, designed for use in pharmacies. The system allows a pharmacist to place a patient's prescription refill in an individual storage lockbox for later retrieval. The ingenious system allows consumers to pick up their medications, quickly and conveniently, 24 hours a day. They simply register on their initial visit, and then the Lockbox Rx will recognize them through biometric identification. Once the customer's identity has been verified, a temporary use lockbox is opened and the consumer's medication is ready for retrieval.
The Lockbox Rx unburdens the pharmacy staff and gives the consumer added flexibility in when and how they will pick up their medicine.
Medbox OTC™ is a non-biometric machine for over-the-counter items like Tylenol, cough drops, hair brushes, toothbrushes, toothpaste, shoe polish, condoms, baby oil, lotions, eye-drops, and many other items one would find at a convenience store. These machines fit perfectly in hotel lobbies, college dormitories and truck stops, and offer 24-hour service.
Safe Access Storage Lockers (SAS Lockers™) These systems can be used by medium to large mail-order companies for the retrieval of retail goods by their customers. Similar storage systems have been recently implemented by large companies such as Amazon, to improve their shipping logistics to consumers. These storage lockers are placed in convenient retail locations, and customers are given the option having their items shipped to their home or to the automated storage locker, where they would pick up their package by inputting a secure pin-code on the self-service system. Amazon estimates it will save millions on shipping costs and losses related to mail theft.
The Medbox SAS locker can be accessed through the use of pin-code or through a unique fingerprint recognition system.
In related news, the company announced that is on pace to far surpass its 2012 projections of $5 million and that they have prepared new 4 year financial projections that reflect both current business and new revenue streams that will be created through their new division and product line.
Revenues are projected to jump to over $24 million by fiscal year end 2014, and continue on a rapid growth path to over $48 million by fiscal year end 2016. EBITDA is projected at a healthy $10.2 million and $22.1 million for the same periods. A detailed summary of the projections can be found at the company's website, in the "News" section (http://www.thedispensingsolution.com/news).
Medbox earns revenues from a combination of system sales, consulting services, and maintenance agreements.
For more information, contact Medbox at: (800) 762-1452.
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Tokyo and Toronto, and has their corporate headquarters in Los Angeles. Medbox provides their patented systems, software and consulting services to pharmacies, urgent care centers, clinics, hospitals, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is listed on the OTC Board, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.
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