In June of 2007, ALS Pharmacy, Inc. signed a three year management agreement with a Massachusetts based owner and operator of skilled nursing facilities. The new pharmacy provided services to the 19 Massachusetts and New York based skilled nursing facilities with 2,600 beds.
ALS Pharmacy, Inc. was responsible for all facets of set-up, operations and financial management. The Pharmacy began servicing their first homes in March of 2008. Revenue and net income were $22,000,000 and $2,100,000 respectively.
The management agreement expired in January 2010, at which time the nursing home operator assumed the day to day operations. Today, the company is still operating and is reported to be very successful.