Good Morning All! I thought some might be interested in the original press release detailing the acquisition of PPSI by Doctor Dalton. This press release is very informative in my opinion.
FARMINGDALE, N.Y.--(BUSINESS WIRE)--January 7, 2002 Univec, Inc. (OTCBB:UNVC - news), a mfg. of safety syringes, acquired Physician and Pharmaceutical Services, Inc. of Baltimore, a leader in the $8 billion drug sampling market.
Univec, a leading manufacturer of patented auto-disable safety syringes, announced the acquisition of Physician and Pharmaceutical Services, Inc. of Baltimore, a leader in the $8 billion drug sampling market.
( PRWEB) JANUARY 11, 2002
FARMINGDALE, N.Y.--(BUSINESS WIRE)--January 7, 2002 Â Farmingdale-based Univec, Inc. (OTCBB:UNVC - news), a leading manufacturer of patented auto-disable and safety syringes, today announced the acquisition of Physician and Pharmaceutical Services, Inc. (PPSI) of Baltimore, Md., a leader in the $8 billion drug sampling market.
PPSIÂs founder, Dr. David L. Dalton has assumed the position of President and CEO of Univec. Dr. Dalton has over 35 years experience in the healthcare industry, including 18 years with Rite-Aid where he was Corporate Vice President. Dr. Dalton has founded several companies, including Health Resources, Inc., Pharmacy Services, Inc., and Physician and Pharmaceutical Services, Inc.
Dr. Dalton will focus on building Univec’s presence in U.S. markets, including expanding the Company’s products and distribution channels. According to Dr. Dalton, “We intend to continue Univec’s leadership position in the design and manufacture of safe health products by aggressively expanding our distribution and product portfolio. Joel Schoenfeld, founder and Chairman of Univec, will continue as Chairman and will focus on Univec’s international and government sectors.
About PPSI: PPSI will continue to promote pharmaceutical products through its online payment network of physicians and pharmacies. PPSI’s unique promotional capability eliminates the need for pharmaceutical companies to distribute actual drug samples to physicians, thus reducing potential liability. Patients fill the free prescriptions for promoted products at any pharmacy. PPSI handles reimbursement to the pharmacy and all marketing analysis and reporting for the pharmaceutical company.
According to IMS Health, U.S. pharmaceutical manufacturers distributed almost $8 billion worth of product samples in 2000, more than half of the $15.6 billion the industry spent in promoting its products to both physicians and consumers.
About Univec: Founded in 1992, Univec is considered one of the leading innovators in the design and production of auto-disable safety syringes. The Company has production facilities in Portugal, South Korea, China, India, Belgium and the U.S., and has licensed its technology to Terumo of Japan, the leading producer of syringes outside the U.S.
Univec distributes its products in 80 countries, and will continue selling and licensing its syringe technology for distribution in foreign markets while expanding its distribution in the U.S. Its patented safe syringes include the AD-Syringe (auto-disable) to prevent re-use of disposable syringes, and the Sliding-Sheath Syringe to prevent needle-stick injury to healthcare workers. Leading health experts have documented that traditional disposable syringes are the leading cause for the spread of blood-borne pathogens such as HIV/AIDS and Hepatitis. The World Health Organization and UNICEF have now banned use of traditional disposable syringes for all vaccine programs.
According to Joel Schoenfeld, “Our most clear and present danger is from use of the out-dated disposable syringes for delivery of mass immunization. We are working with the Centers for Disease Control and the Congress to ensure that only auto-disable safety syringes are used to deliver vaccines.”
Univec is expecting revenue to increase based on relationships introduced by PPSI, combined with the immediate need for safe health products, and specifically safe syringes in the U.S. The Company plans to complete other acquisitions as part of its growth strategy.
Univec has engaged Allegent Growth Strategies to provide strategic and financial advisory services, and to assist the Company in completing other acquisitions. Allegent’s Managing Partner, Richard H. Hershman will fill the position of CFO. Allegent Partner, G. Edward Kalbaugh will fill the position of Executive Vice President of Corporate and Business Development.
http://www.prweb.com/releases/2002/01/prweb31759.htm
FARMINGDALE, N.Y.--(BUSINESS WIRE)--January 7, 2002 Univec, Inc. (OTCBB:UNVC - news), a mfg. of safety syringes, acquired Physician and Pharmaceutical Services, Inc. of Baltimore, a leader in the $8 billion drug sampling market.
Univec, a leading manufacturer of patented auto-disable safety syringes, announced the acquisition of Physician and Pharmaceutical Services, Inc. of Baltimore, a leader in the $8 billion drug sampling market.
( PRWEB) JANUARY 11, 2002
FARMINGDALE, N.Y.--(BUSINESS WIRE)--January 7, 2002 Â Farmingdale-based Univec, Inc. (OTCBB:UNVC - news), a leading manufacturer of patented auto-disable and safety syringes, today announced the acquisition of Physician and Pharmaceutical Services, Inc. (PPSI) of Baltimore, Md., a leader in the $8 billion drug sampling market.
PPSIÂs founder, Dr. David L. Dalton has assumed the position of President and CEO of Univec. Dr. Dalton has over 35 years experience in the healthcare industry, including 18 years with Rite-Aid where he was Corporate Vice President. Dr. Dalton has founded several companies, including Health Resources, Inc., Pharmacy Services, Inc., and Physician and Pharmaceutical Services, Inc.
Dr. Dalton will focus on building Univec’s presence in U.S. markets, including expanding the Company’s products and distribution channels. According to Dr. Dalton, “We intend to continue Univec’s leadership position in the design and manufacture of safe health products by aggressively expanding our distribution and product portfolio. Joel Schoenfeld, founder and Chairman of Univec, will continue as Chairman and will focus on Univec’s international and government sectors.
About PPSI: PPSI will continue to promote pharmaceutical products through its online payment network of physicians and pharmacies. PPSI’s unique promotional capability eliminates the need for pharmaceutical companies to distribute actual drug samples to physicians, thus reducing potential liability. Patients fill the free prescriptions for promoted products at any pharmacy. PPSI handles reimbursement to the pharmacy and all marketing analysis and reporting for the pharmaceutical company.
According to IMS Health, U.S. pharmaceutical manufacturers distributed almost $8 billion worth of product samples in 2000, more than half of the $15.6 billion the industry spent in promoting its products to both physicians and consumers.
About Univec: Founded in 1992, Univec is considered one of the leading innovators in the design and production of auto-disable safety syringes. The Company has production facilities in Portugal, South Korea, China, India, Belgium and the U.S., and has licensed its technology to Terumo of Japan, the leading producer of syringes outside the U.S.
Univec distributes its products in 80 countries, and will continue selling and licensing its syringe technology for distribution in foreign markets while expanding its distribution in the U.S. Its patented safe syringes include the AD-Syringe (auto-disable) to prevent re-use of disposable syringes, and the Sliding-Sheath Syringe to prevent needle-stick injury to healthcare workers. Leading health experts have documented that traditional disposable syringes are the leading cause for the spread of blood-borne pathogens such as HIV/AIDS and Hepatitis. The World Health Organization and UNICEF have now banned use of traditional disposable syringes for all vaccine programs.
According to Joel Schoenfeld, “Our most clear and present danger is from use of the out-dated disposable syringes for delivery of mass immunization. We are working with the Centers for Disease Control and the Congress to ensure that only auto-disable safety syringes are used to deliver vaccines.”
Univec is expecting revenue to increase based on relationships introduced by PPSI, combined with the immediate need for safe health products, and specifically safe syringes in the U.S. The Company plans to complete other acquisitions as part of its growth strategy.
Univec has engaged Allegent Growth Strategies to provide strategic and financial advisory services, and to assist the Company in completing other acquisitions. Allegent’s Managing Partner, Richard H. Hershman will fill the position of CFO. Allegent Partner, G. Edward Kalbaugh will fill the position of Executive Vice President of Corporate and Business Development.
http://www.prweb.com/releases/2002/01/prweb31759.htm
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