SILVER SPRING, Md.,
May 29, 2014 /PRNewswire/
-- Pharmagen, Inc. (OTCPink: PHRX) (the "Company" or
"Pharmagen") announces that effective June
1, 2014, it has appointed three additional members to its
Board of Directors, which now consists of five (5) members.
Under its agreement with Bagel Boy Equity Group II, LLC, and as
part of its Consolidation and Capital Restructure Plan, the Company
agreed to establish a five (5) member Board of Directors in order
to create a more transparent and mutually aligned organization
between the founders, new investment, and targets that are part of
the Company's Roll-up Consolidation Plan.
The newly created five (5) member Board of Directors is
comprised of the following individuals:
Mackie Barch, CEO, Pharmagen,
Inc.
Richard A. Wolpow, (Chairman)
Managing Partner, Bagel Boy Equity Group II LLC
Danny Barnes, PharmD, President
& CEO, Triangle Compounding Pharmacy
Stephen M. Perry, President &
CEO Kymanox, LLC
David S. Rowley, Managing Partner,
Chestnut Hill Partners
"The new Board of Directors ("BOD") represents individuals who
bring a high caliber of knowledge and expertise to the
Company. We are very proud to have each and everyone one of
them on the board. We anticipate that they will all be very
active members in assisting the company in carrying out its goals,"
stated Richard A. Wolpow,
Pharmagen's Chairman.
Quotes from our new Board Members:
Stephen Perry, founder of
Kymanox adds, "I am proud to have supported Mackie Barch and the Pharmagen team since they
shared their inspiring vision in late 2012. At the time, the
healthcare industry was reeling from the New England Compounding
Center tragedy. Fast forward to today, and Pharmagen is poised to
be an industry leader with respect to the FDA's newly promulgated
503B Outsourcing Facility regulations. Pharmagen is also
implementing advanced manufacturing science and technology to
ensure safe, effective, and timely medications for patients across
the nation."
David Rowley - "I am thrilled to join the
board of a company poised for growth that is focusing on elevating
standards of quality and compliance, in an industry where many tend
to run from regulatory oversight," "As part of Pharmagen's
Board of Directors, I look forward to working closely with this
impressive organization as they continue to make the right
investments in regulatory, people and platforms that will take
Pharmagen to the next level," said David S. Rowley, Managing Director, Chestnut
Hill Partners.
Danny Barnes PharmD
- "I am excited and honored to join the board of such an
innovative company as Pharmagen. I look forward to being part of a
leadership team with a shared vision of innovation and quality
focus for providing medications and IT solutions to patients,
physicians and hospitals."
"The Pharmagen team has been working hard for years to get to
this moment and I couldn't be happier. I'm so thankful for
everybody's involvement and commitment to the long-term vision of
where we need go as an organization. It's a great day for the
Company and our shareholders," 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 it 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 company's primarily in the Healthcare
industry. Currently, Mr. Wolpow is on the Board of Directors
or three companies, is an operating partner of a healthcare
specific private equity firm and is the Trustee for a private
charitable trust.
About Triangle Compounding Pharmacy
Triangle Sterile
Compounding Pharmacy has been serving the patients and physicians
of North Carolina for over a
decade. Triangle Compounding Pharmacy was the first pharmacy in
North Carolina accredited by the
Pharmacy Compounding Accreditation Board (PCAB) demonstrating its
commitment to quality. Triangle Compounding Pharmacy specializes in
compounding unique medications such as a wide range of preparations
including high-risk sterile medications, sterile ophthalmic
products, pediatric specialty medications, and clinical trials.
(www.trianglecompounding.com)
About Kymanox, LLC
Now it its 10th year,
Kymanox (www.kymanox.com) differentiates itself by offering a broad
range of technical services and products with
turnkey project delivery. Clients are served globally in the
areas of biotechnology, pharmaceuticals, medical devices,
compounding, and nanotechnology. Kymanox routinely provides
regulatory compliance and process engineering support. The team
includes 60 full-time and contract employees, many of whom are
recognized as subject matter experts in their respective fields.
Kymanox owns and maintains the following entities: CMOLocator for
finding bio Contract Manufacturing Organizations (CMOs), KymaSTORE
for instant downloads, GMPPENS for CGMP Compliant Indelible Ink,
and KymaPRO for online project collaboration.
About Chestnut Hill Partners
Chestnut Hill Partners
is a nationally recognized merchant bank with over $5.5B in transactions closed over 15 years.
Specializing in merger and acquisition originations, Chestnut Hill
is retained by leading private equity firms and corporations
seeking targeted industry investments. Our experienced
professionals discreetly and confidentially bring clients together
with companies seeking investment capital, and owners seeking
majority or minority sale transactions. CHP also co-invests
their own capital along side their fund clients.
(www.chestnuthillpartners.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.
