The new Dougherty’s Pharmacy features a smaller footprint and more efficient design than the previous location at Forest Park. The new 3,000 sq. ft. store commenced operations on June 13, and continues to operate as both a traditional and a compounding pharmacy. Dougherty’s constructed its compounding lab to be compliant with USP 800 guidelines which become effective in July, 2017. Adoption of the USP 800 guidelines will allow our new pharmacy to grow into the future as USP standards evolve.
Mark Heil, president and CFO of Ascendant, said, “We anticipate significant growth opportunities from our new location at the Preston Campbell Shopping Center, as it’s a prime location in an upscale neighborhood. This is an upgrade from our previous Forest Park location, which was in a medical office building attached to a hospital that recently ceased operations.
“Rent savings from the move are expected to be approximately $150,000 annually,” Mr. Heil continued. “We believe the rent savings, combined with the prime location of our new store, should offer an opportunity to gain new customers and bring added value to Ascendant shareholders.”
Ascendant Solutions, Inc. is a value-oriented investment firm focused on successfully acquiring, managing and growing community-based pharmacies in the Southwest Region. Ascendant currently has approximately $43 million in net operating loss carryforwards which can be used to shelter future income, thus enhancing free cash flow or debt service capabilities. Interested investors can access financials and stock trading information for Ascendant at OTCMarkets.com or at ascendantsolutions.com.