ImprimisRx to supply VCNA with a series of surgical pharmaceutical formulations needed during ophthalmic surgery
SAN DIEGO, March 03, 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. (HROW), announced that it has agreed to a product supply agreement with Vision Center Network of America, LLC (VCNA). The agreement will make ImprimisRx a VCNA preferred provider for a variety of surgical formulations, including a portfolio of topical and injectable products. VCNA is a clinically integrated network (CIN) of ophthalmic ambulatory surgery centers (ASCs) currently serving patients primarily in the New York and New Jersey area. VCNA currently serves nine ophthalmic ASCs and over 200 ophthalmologists who perform an estimated 100,000 surgical procedures annually in the region. Through the use of its proprietary database, VCNA tracks purchasing volume and patterns for surgical injectables and other products for each of its member surgery centers, specifically as it relates to cataract surgery. These data points will, in turn, provide transparency into actual cost per surgical case across each surgery center as well as individual surgeons for benchmarking purposes.
John Saharek, President of ImprimisRx, commented, “We are excited to partner with Vision Center Network of America, whose surgery center members are leading providers of vision health and ophthalmic surgical services in the New York and New Jersey area. With over 40 ophthalmic topical and injectable formulations and a presence in all 50 states, we are looking forward to fostering a long-term relationship with VCNA as their regional footprint expands.”
Dr. Jerome Levy, President and Chairman of the Board of VCNA, stated, “This partnership with ImprimisRx is a natural fit since both companies believe in high-quality healthcare at an affordable price. We look forward to working with the ImprimisRx team, who have been innovators in the ophthalmic space, to better serve our patients.”
About Vision Center Network of America, LLC
Vision Center Network of America, LLC (VCNA), a Clinically Integrated Network (CIN), was founded in March of 2016 and consists of 9 ophthalmic ambulatory surgery centers (ASCs) intent on advancing Value-Based Care, which is defined as high-quality healthcare at a lower than average cost. While actively seeking to expand its network, VCNA currently serves patients in New York and New Jersey with nine ophthalmic ASCs that perform an estimated 100,000 surgical procedures annually in the region.
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, www.imprimisrx.com/.
About Harrow Health
Harrow Health, Inc. (HROW) owns a portfolio of healthcare businesses, including ImprimisRx, the nation’s leading ophthalmology outsourcing facility and pharmaceutical compounding business. The company holds large equity positions in Eton Pharmaceuticals, Surface Pharmaceuticals, Melt Pharmaceuticals, 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 clicking here.
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 www.sec.gov. 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.
Holliday Communications, Inc.
Contact for Vision Center Network of America, LLC:
Neil S. Levinbook, Esq.
Chief Operating Officer & Treasurer
Source: ImprimisRx and Harrow Health, Inc.