In 1999, ALS Pharmacy, Inc. signed a three year management agreement with a Dallas Texas based owner and operator of skilled nursing facilities to organize and operate a Pharmacy to provide comprehensive pharmacy services. This new pharmacy provided services to the fifteen Texas based skilled nursing facilities with 1,100 beds.
ALS Pharmacy, Inc. was responsible for the set-up, operation and financial management of the new Pharmacy. The Pharmacy became profitable after four months of operations. In 2000, the first full year of operations, the pharmacy had revenues of $6.1 million and a net profit of $510,000.
The management agreement expired in January 2002, at which time the nursing home operator assumed the day to day operations. Today, the company is still operating in Texas and is reported to be very successful.