ImprimisRx® Announces Supply Agreement with EyeCare Services Partners
Agreement expands locations served and access to new ImprimisRx formulations
SAN DIEGO, March 12, 2020 (GLOBE NEWSWIRE) -- ImprimisRx, the nation’s leading ophthalmic-focused outsourcing facility and pharmaceutical compounding business, and a wholly-owned subsidiary of Harrow Health, Inc. (NASDAQ: HROW), announced that it has agreed to a product supply agreement with EyeCare Services Partners (ESP). ImprimisRx currently provides a limited number of ophthalmic formulations to practices within the ESP group, but this agreement will expand the number of formulations available to new and existing ESP facilities and allow for additional formulations to be added as the ImprimisRx/ESP relationship continues to expand. ESP is a partnership of 30+ ophthalmologic, optometric brands, and ambulatory surgery centers (ASCs) across multiple states, with 90 locations, 12 ASCs, and 200 providers, representing approximately 100,000 ophthalmic procedures in the U.S. annually.
John Saharek, President of ImprimisRx, commented, “EyeCare Services Partners has built an impressive network of eye care providers nationwide and we are honored they have entrusted us with the health outcomes of their patients. ESP is focused on minimizing distractions and disruptions to patient care and greater access to the ImprimisRx portfolio will support that goal, especially as we continue to innovate and build new solutions in different corners of the ophthalmology market.”
Kyle McKinnon, Product Manager – Refractive Marketing of EyeCare Services Partners, stated, “I am looking forward to expanding our relationship with ImprimisRx and bringing more of their products into our network. ImprimisRx has been a reliable provider of many critical formulations for some time now but, with their ever-expanding portfolio, I see additional opportunities to supply unique, customizable solutions to our healthcare providers and patients.”
About EyeCare Services Partners
EyeCare Services Partners (ESP) provides ownership and practice management of ophthalmologic, optometric and ambulatory surgery centers (ASCs) nationwide. ESP is creating the nation’s leading eye care services company by consolidating ophthalmologic and optometric practices and ASCs, providing a patient-centric model that delivers outstanding care and quality outcomes by leveraging best-in-class technology, processes, and managerial infrastructure.
About ImprimisRx
ImprimisRx is the nation’s leading ophthalmology-focused outsourcing facility and pharmaceutical compounding business, serving thousands of ophthalmologists and optometrists in all 50 states, with 40 proprietary ophthalmic formulations. ImprimisRx is headquartered in San Diego, CA and owns two FDA-inspected production and dispensing facilities in Ledgewood, New Jersey. There have been over three million eyes served by the formulations produced at these facilities. For more information about ImprimisRx, including ordering instructions, please visit our website, .
About Harrow Health
Harrow Health, Inc. (NASDAQ: HROW) owns a portfolio of healthcare businesses, including , the nation’s leading ophthalmology outsourcing facility and pharmaceutical compounding business. The company holds large equity positions in , , , Mayfield Pharmaceuticals, Stowe Pharmaceuticals, and Radley Pharmaceuticals, all companies founded as subsidiaries of Harrow Health. The Company also owns royalty rights in certain drug candidates being developed by Surface, Melt, Mayfield and Radley. Harrow intends to create, invest in and grow paradigm shifting healthcare businesses that put patients first. For more information about Harrow Health, please visit the Investor Relations section of the corporate website by .
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements." Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to make commercially available our compounded formulations and technologies in a timely manner or at all; physician interest in prescribing our formulations; risks related to our compounding pharmacy operations; our ability to enter into other strategic alliances, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of our formulations; our ability to obtain intellectual property protection for our assets; our ability to accurately estimate our expenses and cash burn, and raise additional funds when necessary; risks related to research and development activities; the projected size of the potential market for our technologies and formulations; unexpected new data, safety and technical issues; regulatory and market developments impacting compounding pharmacies, outsourcing facilities and the pharmaceutical industry; competition; and market conditions. These and additional risks and uncertainties are more fully described in Harrow Health’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Such documents may be read free of charge on the SEC's web site at . Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Harrow Health undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
No ImprimisRx compounded formulation is FDA-approved. Other than drugs compounded at a registered outsourcing facility, all ImprimisRx compounded formulations require a prescription for an individually identified patient consistent with federal and state laws.
Investor Contact:
Jon Patton
858-704-4587
Media Contact:
Deb Holliday
Holliday Communications, Inc.
412.877.4519
Contact for EyeCare Services Partners:
Kyle McKinnon
Product Manager – Refractive Marketing
844.ESP.MGMT (844.377.6468)
Source: ImprimisRx and Harrow Health, Inc.
