DENISON, Texas, April 8 /PRNewswire/ -- HORIZON Pharmacies, Inc.
(AMEX:HZP) announced today that it has signed an engagement letter with Morgan Keegan & Company to act as exclusive financial advisor to HORIZON Pharmacies, Inc. with respect to possible business combinations involving HORIZON Pharmacies, Inc. Morgan Keegan has been retained to provide advisory services, including general business and financial analysis of HORIZON Pharmacies, Inc. Rick McCord, president, and CEO of HORIZON Pharmacies, Inc. stated, "Our company's primary objective is to enhance shareholder value with strategic
alternatives. These alternatives are consistent with the company's long term strategic plan, such as the continued consolidation of the retail pharmacy industry."
Currently, HORIZON owns and operates 49 retail pharmacies in 15 states,12 home medical equipment ("HME") locations, five closed-door institutional pharmacies, five intravenous (IV) operations, two home healthcare agencies, and one wholesale operation. HORIZON Pharmacies, Inc. acquires and consolidates high volume, free-standing full-service retail pharmacies primarily located in communities having populations of fewer than 50,000 people. HORIZON believes that its success is primarily due to its philosophy of retaining the individual, time-proven customer service characteristics of the stores it acquires, while enabling such stores to offer complete and competitively priced inventories to their small town customers
through enhanced technology and consolidation and management of such stores as a chain.
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