MIM Corp. to Acquire Continental Pharmacy

Share this article:
Pharmacy benefit management organization MIM Corp., Pearl River, NY, announced Jan. 28 that it has entered into a definitive agreement to acquire Continental Managed Pharmacy Services, Cleveland, for 3.8 million shares of MIM common stock. Continental's gross operating profit was $8 million on revenues totaling $48.7 million in 1997. The transaction will let MIM expand into the mail-order, drug distribution and physician services businesses. Continental targets small corporations and individuals afflicted with particular diseases such as diabetes and AIDS that require medication on a more frequent basis than the average patient. The transaction is expected to be accounted for as a pooling of interests under applicable accounting principles.
Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

Target Names Retail Veteran Brian Cornell as CEO

Target Names Retail Veteran Brian Cornell as CEO

He leaves the top job at PepsiCo Foods to take the spot vacated by Greg Steinhafel in the aftermath of the data breach.

NBA Names Insurance Exec as its CMO

NBA Names Insurance Exec as its CMO

Nationwide and State Farm veteran Pamela El takes the league's marketing helm next month.

Bloomberg Names Bigley CMO

Bloomberg Names Bigley CMO

Communications chief Deirdre Bigley is appointed head of global marketing for the business and financial news company.