Medicap Pharmacy's image is built upon our founding principle that each patient deserves personal, professional care and low-cost prescriptions. Our prime store locations, state-of-the-art store design, instant accessibility to the pharmacist and innovative drive-thru prescription window have helped Medicap Pharmacy redefine the meaning of convenience and the delivery of professional pharmacy services.
Medicap Pharmacy continues to grow by focusing on new opportunities in the ever-changing healthcare market. We carved out new territory in pharmaceutical care with the advent of the "medihealth solutions" program. Most all our newest pharmacies feature private patient consultation rooms while many of our older pharmacies have been remodeled to accommodate patient counseling areas.
Medicap Pharmacy offers its franchisees managed care expertise, presentation skills and a proven track record to assist in securing prescription contracts. Our volume-buying power, the strength of our expanding national network of pharmacies, Medicap Pharmacy's professional low-cost image and company history make an attractive package when competing for managed care contracts.
Each franchise location is assigned a Franchise Business Consultant who is a registered pharmacist who is either a current or former franchise owner with many years of experience in the Medicap Pharmacy system.
Medicap Pharmacy began with the opening of the first retail store in Des Moines, Iowa, in 1971. Then called the Medicine Chest, this store served as the prototype for other Medicap Pharmacy locations to come by combining several ideas into a concept that is still basic to the Medicap Pharmacy approach to pharmaceutical care -- patient care, convenience and savings. As a result, the Medicap Pharmacy philosophy of providing low-cost prescriptions with the personal care of a registered pharmacist soon took shape.
In 1973 the company started franchising their concept and by 1981, the network of Medicap Pharmacy locations had grown to 28 in the state of Iowa. In 1984, the network expanded for the first time outside the borders of Iowa, with the opening of a new Medicap Pharmacy in neighboring Minnesota.
Medicap Pharmacies, Inc. solidified its position as an industry-leader in 1985 with the pioneering of a new concept in patient convenience -- the drive-thru window. 1989 saw the development of a new prototype building design for new Medicap Pharmacy buildings. And an important milestone was reached in 1993 when the 100th pharmacy opened for business. In December 2003, Medicine Shoppe International, Inc. (MSI), a Cardinal Health company (NYSE:CAH) and the national leading franchisor of independent retail pharmacies, announced the acquisition of Medicap Pharmacies Incorporated, a franchisor of 181 community pharmacies with locations in 34 states.
Medicap Pharmacies Incorporated is now a wholly owned subsidiary of MSI. The company supports both the Medicine Shoppe® and Medicap Pharmacy® Brands. "Similar to The Medicine Shoppe® Pharmacies, Medicap Pharmacy locations focus on personalized patient care and services. The companies continue to offer franchisees a business proposition that enables them to control their hours, select their location, and receive the financial and personal benefits of owning their own business. The result is a network of more than 900 Medicine Shoppe® and Medicap Pharmacy® locations nationwide and over 400 Medicine Shoppe pharmacies in six other countries that offer personalized, expert, individualized service.
About Medicine Shoppe International
Medicine Shoppe International, Inc. (www.medicineshoppe.com), a Cardinal Health company, is distinguished for its commitment to providing expert, personal health care. With approximately 1,000 Medicine Shoppe® Pharmacies in the U.S. and more than 250 pharmacies in 6 other countries, Medicine Shoppe® Pharmacies fill approximately 47 million prescriptions per year, making Medicine Shoppe International the largest franchisor of independent community pharmacies in the United States, and one of the top three franchises in the health care industry.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is an $87 billion, global company serving the health-care industry with products and services that help hospitals, physician offices and pharmacies reduce costs, improve safety, productivity and profitability, and deliver better care to patients. With a focus on making supply chains more efficient, reducing hospital-acquired infections and breaking the cycle of harmful medication errors, Cardinal Health develops market-leading technologies, including Alaris® IV pumps, Pyxis® automated dispensing systems, MedMined™ electronic infection surveillance, VIASYS® respiratory care products and the CareFusion™ patient identification system. The company also manufactures medical and surgical products and is one of the largest distributors of pharmaceuticals and medical supplies worldwide. Ranked No. 19 on the Fortune 500 and No. 1 in its sector on Fortune's ranking of Most Admired firms, Cardinal Health employs more than 40,000 people on five continents. More information about the company may be found at www.cardinalhealth.com.
Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in Cardinal Health's Form 10-K, Form 8-K and Form 10-Q reports and exhibits to those reports, and include (but are not limited to) the costs, difficulties, and uncertainties related to the integration of acquired businesses, the loss of one or more key customer or supplier relationships, changes in the distribution outsourcing patterns for healthcare products and/or services, the costs and other effects of governmental regulation and legal and administrative proceedings, and general economic conditions. Cardinal Health undertakes no obligation to update or revise any forward-looking statements.