Medbox, Inc. Commences Pursuit of Strategic Acquisitions
HOLLYWOOD, Calif., Dec. 7, 2012 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), announced the formation of an internal committee to pursue and evaluate strategic acquisitions. The committee is charged with identifying companies that provide synergies and logical product extensions in the industries Medbox serves.
Utilizing its strong stock price, which has recently settled into the $20 range and boasting a market capitalization of over $245 million, the company is actively pursuing select strategic acquisitions of 50% or more ownership of entities in the following market segments:
- Pharmaceutical packaging (prescription bags and vials)
- Security and control (ability to implant RFID technology into packaging for unit tracking and security)
- Mag-stripe card manufacturers
- Medical cannabis lab testing
- Cannabinoid research and development companies
"With the interest in Medbox being shown by alternative medicine dispensaries, assisted living facilities, hospice, urgent care centers, and prisons, expanding our capability to offer a full range of solutions, covering all touch points, will best serve our clients' interests, and open more market opportunities for the company," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "We are encouraged by the fact that our user base is growing at an enormous rate. Being able to profit from products and services offered to those clients makes a lot of sense for the company as well as our shareholders."
To avoid dilution to shareholders, the company's executives, founders, and affiliates, who possess over 90% of the company's stock will be contributing up to 2,000,000 shares of Medbox stock, valued at approximately $45,000,000, back to the company to support acquisition activity.
Principals and financial intermediaries are welcome to contact the company in confidence at email@example.com. Companies must submit 3 years of complete financials for consideration.
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, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and its stock is quoted on the OTC Markets, 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.