ScripsAmerica retained Heritage Equity Partners to assist in the bankruptcy court-ordered sale of the company’s 90% interest in PIMD International and 100% interest in Pharmacy Administration, along with its ownership interest in Lake Side Pharmacy.
PIMD is a Georgia-based wholesale pharmacy servicing healthcare establishments, medical facilities and retail pharmacies, and is licensed to receive, store and ship pharmaceuticals.
Pharmacy Administration was formed to provide management, pharmaceutical billing and administrative services to independent pharmacies and owns a controlling interest in Lake Side Pharmacy, which is an Alabama-based retail and PCAB accredited compounding pharmacy.
“The underlying business models for each entity are strong and they are being offered independently or in any combination in order to maximize value for the estate. The court has approved bid procedures and an auction is scheduled for January 24, 2017,” said Hank Waida, a managing director at HEP.