SILVER SPRING, Md.,
April 22, 2014 /PRNewswire/
-- Pharmagen, Inc. (OTCQB: PHRX) (the "Company" or
"Pharmagen") today announced that it has completed its bridge
financing lead by Pharmagen's Chairman, Richard A. Wolpow and Bagel Boy Equity Group II,
LLC. Completion of this round helps get Pharmagen one step
closer to following through on a plan of consolidation and
restructuring which was initiated in October 2013.
"I am excited to get this part of the plan behind us", says
Richard A. Wolpow, Chairman of
Pharmagen, Inc. "Much has transpired since October and there
is still much to do, however, I expect only positive things moving
forward. I have been very impressed with the Pharmagen team,
their willingness to embrace new ideas, people, and direction for
the Company." Wolpow stated.
"We're very thankful for Richard's involvement in Pharmagen.
He believes in Pharmagen's long term vision. We believe
Richard's wealth of experience in our market coupled with his
longstanding relationships in the capital markets will prove to be
the game changer for us and the entire compounding industry," said
Mackie A. Barch, CEO of
Pharmagen.
About Pharmagen
Pharmagen, Inc. ("Pharmagen"), and wholly owned subsidiaries and
operating divisions Pharmagen Laboratories, Inc., Pharmagen
Distribution, LLC and Pharmagen Nutraceuticals, Inc. offers
innovative solutions to the nations sterile pharmaceutical crisis.
With a multi-solution approach, Pharmagen is helping to meet
the demand of the health provider market through independent
wholesale, compounding, and IT solutions. Nationally focused,
Pharmagen is a distributor of specialty drugs, compounding and
admix pharmacy and producer of over-the-counter ("OTC") branded
multivitamins. Pharmagen currently functions as a
just-in-time source of supply for hospitals for those products that
are hard-to-find.
Contact: 888-264-4597 or info@pharmagenrx.com
Follow Us on Twitter: @pharmagenrx or
The Drug Shortage
Report http://drugshortagereport.blogspot.com/
About Bagel Boy Equity Group II, LLC
Bagel Boy Equity Group II, LLC, was founded by its Managing
Partner, Richard A. Wolpow. Mr
Wolpow has been advising and operating small to mid-size private
and public companies for over 20 years. He is or has been
founder and chief operator of a number of companies primarily in
the Healthcare industry. Currently, Mr. Wolpow is on the
Board of Directors of three companies, is an operating partner of a
healthcare specific private equity firm and is the trustee for a
private charitable trust.
Contact: 888-264-4597 or info@pharmagenrx.com
Safe Harbor Statement
Information in this document constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words
"forecast", "anticipate", "estimate", "project", "intend",
"expect", "should", "believe", and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve, and are subject to known and unknown risks,
uncertainties and other factors which could cause Pharmagen actual
results, performance (financial or operating) or achievements to
differ from the future results, performance (financial or
operating) or achievements expressed or implied by such
forward-looking statements. The risks, uncertainties and
other factors are more fully discussed in Pharmagen's filings with
the U.S. Securities and Exchange Commission. All
forward-looking statements attributable to Pharmagen herein are
expressly qualified in their entirety by the above-mentioned
cautionary statement. Pharmagen disclaims any obligation to
update forward-looking statements contained in this estimate,
except as may be required by law.
SOURCE Pharmagen, Inc.