DALLAS, Jan. 8, 2015 /PRNewswire/ -- Ascendant Solutions, Inc. (Pink Sheets: ASDS) ("Ascendant" or the "Company") today announced that its Healthcare subsidiary, Dougherty's Holdings, has acquired McCrory's Pharmacy ("McCrory"), located in El Paso, Texas.
The McCrory acquisition is expected to add approximately $8 million in annual revenues to Ascendant's results. In total, Ascendant's three recent acquisitions (including McCrory's) should boost sales for Dougherty's Holdings 25 percent to over $37 million in 2015, compared to estimated 2014 sales of $29 million.
For more than 56 years, McCrory's Pharmacy has provided retail prescriptions, sterile and non-sterile compounded prescriptions, hormone testing, diabetes support, and home healthcare services and equipment for customers in and around the El Paso area.
Mark Heil, President and CFO of Ascendant, stated, "We are very excited to add McCrory's to our family of Dougherty's Pharmacy locations. Given McCrory's excellent reputation as the premier independent pharmacy in El Paso, we intend to continue to operate this pharmacy under the McCrory's name. As with previous acquisitions, we look forward to expanding McCrory's robust retail and compounding business. McCrory's commitment to service and quality aligns perfectly with Dougherty's Pharmacy in Dallas, where we have provided health care services for our customers for almost a century."
About Dougherty's Pharmacy
Dougherty's Pharmacy has been the premier pharmacy in Dallas since 1929, offering a wide variety of products and services to customers, including prescriptions, compounds, durable medical equipment, nutritional products, diabetic supplies and a host of other health and wellness products and services.
About Ascendant Solutions, Inc.
Ascendant Solutions, Inc. is a value-oriented investment firm focused on successfully acquiring, managing and growing community-based pharmacies in the Southwest Region. Ascendant currently has approximately $43 million in net operating loss carryforwards which can be used to shelter future income, thus enhancing free cash flow or debt service capabilities. Interested investors can access financials and stock trading information for Ascendant at OTCMarkets.com or at www.ascendantsolutions.com.
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations, projections, estimates and assumptions. These forward-looking statements may be identified by words such as "expects," "believes," "anticipates" and similar expressions. Forward-looking statements involve risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
SOURCE Ascendant Solutions, Inc.