Ascendant announces new pharmacy acquisition

Ascendant Solutions Inc. yesterday announced that its health care subsidiary, Dougherty’s Holdings, acquired The Medicine Shoppe pharmacy in McAlester, Oklahoma.

The community-based pharmacy has been providing retail prescriptions, non-sterile compounded prescriptions and home health products for customers in and around the McAlester area for more than 25-years.

"We are very fortunate to add The Medicine Shoppe pharmacy in McAlester, Oklahoma, to our family of Dougherty's Pharmacy locations,” President and CEO of Ascendant Mark Heil said. “Given its excellent reputation as the premier independent pharmacy in McAlester, we intend to continue to operate this pharmacy under The Medicine Shoppe name.”

The acquisition of The Medicine Shoppe is expected to add approximately $3 million in revenues to Ascendant's 2015 results and $6 million in annual revenues to Ascendant's results on a full-year basis. Ascendant's four recent acquisitions -- including McAlester -- should boost sales for Dougherty's Holdings 45 percent to over $42 million in 2015.

“As with previous acquisitions, we look forward to expanding McAlester's robust retail business and continuing the long-standing tradition of service that The Medicine Shoppe has provided to the McAlester area for over 25 years,” Heil said. “This pharmacy's long history of providing outstanding customer service to its community aligns perfectly with the tradition of service that Dougherty's Pharmacy has provided in Dallas, Texas, for almost a century.”