Investment By Experienced Healthcare Professional and Investor Provides Additional Strategic Growth Capital and Healthcare Expertise
BOULDER, Colo., Nov 19, 2003 -- Pharmaca Integrative Pharmacy, Inc. announces the completion of a $5.5 million equity financing from Richard L. Scott, founder and prior Chairman and Chief Executive Officer of Columbia/HCA Healthcare Corporation, now called HCA Inc. The capital will be used to open additional Pharmaca locations in select markets throughout the country. The Company's goal is to create a pharmacy "experience" for individuals seeking to improve their health and wellness through the added knowledge of dietary supplements and herbal, homeopathic, and natural medicines. Pharmaca staffs each location with a team of pharmacists and complementary medicine specialists (herbalists, nutritionists, naturopaths, homeopaths and estheticians).
"We are committed to opening new Pharmaca locations to meet the needs and demands of individuals seeking to improve their health and wellness, and we welcome Rick's commitment to that goal," commented Dale Schwartz, Co-CEO of Pharmaca. Barry Perzow, Co-CEO and president, added, "Pharmaca's passionate team of pharmacists and complementary medicine practitioners look forward to expanding their services into areas not currently served by existing Pharmaca locations."
Scott will join the Board of Directors of Pharmaca. Rick stated that, "Each day we all try to improve how we feel and seek to prevent illness. This interest has been heightened as a result of the increasing costs of healthcare. Pharmaca offers me the opportunity to utilize my healthcare experience and knowledge to support Pharmaca's mission of educating individuals regarding the integrative benefits of prescription products, dietary supplements and herbal, homeopathic, and natural medicines."
Pharmaca, founded in June 2000 and headquartered in Boulder, Colo., operates pharmacies that combine prescription drug and over-the-counter products with natural, complementary and personal body care products. The Company operates eight pharmacies in Boulder and Denver, Colo.; San Francisco, Calif.; Portland, Ore.; and Seattle, Wash. Including this financing, the Company has raised over $20 million in equity, bank and supplier financing. www.pharmaca.com
About Richard L. Scott Investments, LLC
Richard L. Scott Investments, LLC was founded in 1997 and has invested in companies in the following industries: healthcare services, medical equipment, manufacturing, cable network, financial services, recreation/leisure, mobile home & RV, network security, transaction processing and catalog retail.