Attis Industries Inc., a diversified innovation and technology holding company, today announced that it closed the acquisition of Quality Rx Returns LLC, a full service provider of pharmaceutical reverse logistic solutions, serving pharmacies, hospitals, and healthcare providers nationwide, according to a release on NASDAQ.com.
Attis currently offers blood and toxicology panel, molecular diagnostic, and pharmacogenetic testing services for over 200 physician clinics, long-term care facilities, hospitals, and laboratories located from California to Florida. With this acquisition, Attis will be able to offer these same partners the additional value of controlled and non-controlled pharmaceutical destruction and redistribution.
Attis plans to grow the Quality Rx business through its existing robust sales infrastructure, including its recently announced partnership with a new nationwide representative group. The Company’s potential network now includes the 4,749 hospitals and 45,000 long term care facilities located in the United States. In addition, the Quality Rx acquisition is expected to expand the Company’s service capability for large quantity generators and manufacturers of pharmaceutical waste by the third quarter of 2018, and enable the Company to expand its licensing to include high margin services for the return and destruction of DEA pharmaceuticals.
“We strive to decrease costs and improve patient care for our clients through unique synergies as embodied by this acquisition,” said Jeff Cosman, the Company’s Chief Executive Officer. “I’m excited to be able to offer an additional value-added service to our myriad healthcare clients and partners.”
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The addition of the Quality Rx pharmaceutical solutions provider will add to the Company’s Healthcare division’s company-managed facilities, which already include fully operational hospital and company-owned laboratories.
Date: August 10, 2018
