Remedi SeniorCare® Completes Acquisition of Ohio's Cornerstone Pharmacy, Expands Distribution in the Midwest

BALTIMORE, Sept. 13, 2012 /PRNewswire/ -- Remedi SeniorCare® (www.RemediRx.com) today announced the acquisition of Cornerstone Pharmacy, one of the largest single site long-term care (LTC) pharmacies in Northeast Ohio. The purchase further expands Remedi's existing footprint, which extends from the Mid-Atlantic to the Midwest.  With the strategic acquisition of Cornerstone, Remedi now serves over 15,000 long-term care residents from pharmacies in Troy and Cleveland, Ohio, extending the ability to service LTC facilities across the entire state of Ohio as well as western Pennsylvania. Brad Pinkerton, President of Cornerstone, has joined Remedi as the President – Midwest Region and is responsible for expanding Remedi's growth across the Midwest.

A leading-edge pharmacy provider, Remedi enables LTC facilities to efficiently deliver optimal medication management and unequalled resident safety and accuracy, while also significantly reducing drug costs. To support its ongoing growth, the company has recently opened new pharmacies in Virginia and Ohio and is also opening in Pennsylvania later this year, each of which will be centered on Remedi's advanced portfolio of customer-inspired technologically advanced products.

Remedi's proprietary med-pass solution Paxit® is the industry's leading automated dispensing system, providing resident-specific 24-hour unit-dose medications packaged in convenient bags for each scheduled time of day. Delivering unequalled accuracy, nursing efficiency and cost reductions, Paxit provides a new standard in medication management.  As the first LTC pharmacy electronic prescription system approved by the Ohio State Board of Pharmacy, Remedi's electronic data interchange Connexit™ increases medication safety and eliminates time-consuming and costly monthly medical record reconciliation for facility operators. Delivering never-before-seen freedom of choice, customers have the option to work with their preferred EHR vendor, or utilize Remedi's proprietary state-of-the-art electronic order entry (eOE) application.

Additionally, Remedi provides its customers with access to real-time decision making with advanced tools, drug pricing, connectivity of eOE and flexible on-demand reporting via Remedi's web portal My Remedi®. All services are backed by RapidResponseSM, Remedi's high-touch customer assistance and delivery services provided by expert LTC pharmacists and account managers.

"The Cornerstone acquisition advances our growth plans, allowing for a broader distribution of our customer-inspired advanced technologies.  We are committed to improving the lives of residents in long-term care and the dedicated people who serve them through the deployment of our portfolio of technology enabled products and services including Paxit and Connexit," said Michael Bronfein, Remedi's Chairman and CEO. "Remedi and Cornerstone's foundational synergies of shared values and unwavering commitment to our customers and the residents they serve will result in a seamless transition among employees and customers." Bronfein went on to comment, "We are committed to providing the most accurate, safest, and cost efficient medication administration systems to the long-term care residents of Northeast Ohio and across the entire State."

"We are thrilled to be a part of this leading organization, which is known for its customer centricity and advanced technologies," said Brad Pinkerton, Cornerstone President. "We look forward to marrying our strengths in customer service, and adopting Remedi's customer-focused innovations that we believe will continue to enhance our existing relationships as well as provide opportunities to create new ones."

About Remedi SeniorCare

Remedi SeniorCare®, a leading-edge pharmacy provider, enables long-term care facilities to deliver better business results and provide exceptional resident-centered care. At the forefront of implementing high-tech advancements for the industry, Remedi redefined medication administration and management with the launch of Paxit®, its proprietary automated medication dispensing system, delivering superior accuracy, efficiency and medication cost reduction.  Remedi's online and electronic tools via My Remedi® web portal and Connexit electronic data interchange further drive business management efficiency and overall cost reduction.  Remedi currently services over 31,000 residents across nine states and Washington, D.C. with RapidResponseSM customer service, ensuring prompt access to medication delivery, expertise and comprehensive support. For more information, visit www.RemediRx.com.

SOURCE Remedi SeniorCare



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