In June of 2005, ALS Pharmacy, Inc. signed a three year management agreement with a Pennsylvania based owner and operator of skilled nursing facilities. The new pharmacy provided services to 37 Texas based skilled nursing facilities with 3.800 beds.
ALS Pharmacy, Inc. was responsible for all facets of set-up, operations and financial management. The pharmacy began servicing their first facilities in January of 2006 and was profitable after the first month of operations. Under ALS Pharmacy, Inc.’s leadership, average yearly sales were $28.25 million with net income of $2.1 million.
The management agreement expired in 2008 and the pharmacy was subsequently sold to Pharmerica in 2010 for $25,000,000.