Firm picks up fourth community pharmacy

Tuesday, June 30, 2015

DALLAS – Ascendant Solutions, an investment firm, and its healthcare subsidiary, Dougherty’s Holdings, have acquired The Medicine Shoppe pharmacy in McAlester, Okla.

It’s the fourth recent acquisition for Ascendant, which trades on Pink Sheets and is focused on acquiring, managing and growing community-based pharmacies in the Southwest region under Doughtery’s Holdings.

“Given its excellent reputation as the premier independent pharmacy in McAlester, we intend to continue to operate this pharmacy under The Medicine Shoppe name,” stated Mark Heil, president and CFO of Ascendant, in a press release.

The Medicine Shoppe is expected to add about $3 million in revenues to Ascendant’s results for 2015 and $6 million to its annual revenues on a full-year basis.

Together, the four recent acquisitions should boost sales for Dougherty’s Holdings 45% to more than $42 million in 2015 compared to $29 million in 2014.

The Medicine Shoppe provides retail prescriptions, non-sterile compounded prescriptions and home health products.