DrugMax signs letter of intent

Friday, March 31, 2006

FARMINGTON, Conn. - DrugMax signed a letter of intent Feb. 21 to acquire Carmichael Cashway Pharmacy, the operator of three Louisiana pharmacies known as Carmichael Pharmacy-Infusion Therapy & Medical Equipment. Carmichael, which had revenues of $30 million in 2005, provides specialty and institutional pharmacy, respiratory and respiratory-related medical equipment and infusion compounding. The deal will allow DrugMax to solidify its market position in Louisiana, said DrugMax Chairman and CEO Ed Mercadante in a release.