BIG STEP ONE!!!Equidyne Corporation Announces Agreement With
Rite Aid for Exclusive Retail Distribution of INJEX Products Through its Stores Nationwide
Equidyne and Rite Aid Team-Up for Distribution of INJEX(TM)at Rite Aid's 3,800 Stores
WESTFORD, Mass. & CAMP HILL, Pa.--(BW HealthWire)--Oct. 3, 2000-- EQUIDYNE CORPORATION (OTCBB:INJX - news) announced today an agreement with national pharmacy chain Rite Aid Corporation (NYSE, PSE:RAD) to exclusively market and distribute the INJEX(TM) products through its retail outlets. Rite Aid is one of the nation's largest retail pharmacy chains, serving millions of customers each day through its approximately 3,800 neighborhood locations in 30 states on both the East and West Coasts and the District of Columbia. Under the terms of the agreement Rite Aid is the exclusive national retail distributor of the INJEX(TM) needle-free drug delivery system in the areas served by their stores through April of 2001. Equidyne will continue to appoint independent dealers and pharmacies, and other pharmacy chains in areas of the country not served by Rite Aid stores.
J. Randall Nelson, President and Chief Executive Officer, stated, ``Rite Aid enjoys a reputation for quality products and services and is very committed to diabetes care at their pharmacies. We are extremely pleased and fortunate to have them as our national retail distributor for the INJEX(TM) products. Equidyne will provide educational material to all Rite Aid pharmacies and will participate in Rite Aid's `diabetes day' events. Rite Aid will work closely with Equidyne to provide valuable feedback on the product. We firmly believe this new channel of distribution will significantly benefit Equidyne and we look forward to a long and successful relationship with Rite Aid.''
``Rite Aid is very committed to diabetes awareness and part of that commitment includes the availability of leading edge
technology through all of our pharmacies. We are excited to be part of this significant technological advancement that will differentiate Rite Aid from all other chain pharmacies,'' said Greg Drew, Rite Aid Vice President, Pharmacy Health Services.
Equidyne Corporation, through Equidyne Systems, Inc., a wholly-owned subsidiary based in San Diego, California, and Rosch AG Medizintechnik, its partially-owned investment based in Berlin, Germany (Additional information at: www.roeschnet.com), is focused on becoming the worldwide leader in needle-free drug delivery systems for subcutaneous and intramuscular injections. Equidyne is responsible for the U.S., Canada, South America and the Asian markets while Rosch AG is responsible for the European market. The INJEX(TM) needle-free injector is a compact, uncomplicated device that delivers a virtually painless injection through the skin in a fraction of a second, and eliminates needle stick and disposal problems. For medications requiring injection, we believe the INJEX(TM) System is by far the most comfortable and economical product on the market.
Rite Aid is one of the nation's leading drugstore chains with annual revenues of over $14 billion and approximately 3,800 stores in 30 states and the District of Columbia. Rite Aid also owns approximately 15 percent of drugstore.com, a leading online source for health, beauty and pharmacy products. Information about Rite Aid, including corporate background and press releases, can be found at the company's Web site at www.riteaid.com.
Chris |
