Dougherty's Holdings, a healthcare subsidiary of Ascendant Solutions, has acquired Springtown Drug ("Springtown") located on the downtown square of Springtown, Texas, just north of Fort Worth. For more than 35 years, this community-based pharmacy has provided retail prescriptions, healthcare products and gifts for the hometown residents of Springtown.
The Springtown pharmacy acquisition is expected to add approximately $1.3 million in revenues.
Mark Heil, President and CFO of Ascendant, stated, "With the addition of Springtown Drug to our family of Dougherty's Pharmacy locations, we are continuing to lay the foundation for our future growth in the independent pharmacy industry. Springtown Drug has a long history of providing excellent personalized service to the citizens of that community. As with previous acquisitions, we look forward to expanding Springtown's retail business and continuing the store's long-standing tradition of providing outstanding customer service. This pharmacy's long history of meeting the healthcare needs of its community aligns perfectly with the tradition of service that Dougherty's Pharmacy has provided in Dallas, Texas, for almost a century."
About Dougherty's Pharmacy
Dougherty's Pharmacy has been the premier pharmacy in Dallas since 1929, offering a wide variety of products and services to customers, including prescriptions, compounds, durable medical equipment, nutritional products, diabetic supplies and a host of other health and wellness products and services.
About Ascendant Solutions, Inc. and Its Healthcare Subsidiary, Dougherty's Holdings, Inc.
Ascendant Solutions, Inc. is a value-oriented investment firm focused on successfully acquiring, managing and growing community-based pharmacies in the Southwest Region under its Healthcare subsidiary, Dougherty's Holdings, Inc.Dougherty's Holdings currently owns and operates six pharmacies in Texas and Oklahoma. Ascendant currently has approximately $42 million in net operating loss carryforwards which can be used to shelter future income, thus enhancing free cash flow or debt service capabilities. Interested investors can access financials and stock trading information for Ascendant at OTCMarkets.com or at www.ascendantsolutions.com