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By M. William Salganik and M. William Salganik,SUN STAFF | May 27, 1996
Dirk Allison has a tough commute -- from his home in Dallas, where he spends weekends, to Baltimore, where he is president and chief executive of Capstone Pharmacy Services.And when his commute is done, he has a tough job.Since officially taking over one year ago, he has renamed the company (Capstone was called Choice Drug Systems until October), moved it (its headquarters were in Inwood, N.Y.) and reshaped it -- cutting the revenue base by closing or selling unprofitable parts, then building it up again through acquisitions.
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BUSINESS
March 10, 2007
Awards M&T Bank was presented with a Diversity Trailblazer award at the annual Black CEO Summit. Contracts The National Institutes of Health awarded Quality Associates, based in Columbia, a $260,000 contract to design and implement a document management and archiving system. Correct Rx Pharmacy Services Inc. won a contract to provide pharmacy services to 14 correctional facilities in Maine. Warschawski has been retained by The Athlete's Foot as its agency of record. Terms of the agreement were not disclosed.
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BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | August 21, 1998
Integrated Health Services is getting out of the institutional pharmacy business -- again.The Owings Mills operator of facilities and services for post-hospital care announced yesterday that it is selling its institutional pharmacy division, National Institutional Pharmacy Services Inc. (NIPSI), to PharMerica Inc. of Tampa, Fla.Terms of the deal were not disclosed. Institutional pharmacies fill prescriptions for nursing homes, prisons and other institutions.In July 1996, Integrated sold what was then its institutional pharmacy division, Symphony Pharmacy Services, to Capstone Pharmacy Services of Baltimore for $150 million.
NEWS
August 16, 2006
Eberhardt wins Arc President's Award Tracey Eberhardt, a past president and longtime advocate for the Arc of Howard County, has been selected by Arc President of the Board Cole Schnorf as winner of this year's President's Award. She was cited for her fundraising, fiscal management, strategic planning and lobbying efforts on behalf of children and adults with cognitive and developmental disabilities. County Executive James N. Robey was named Individual of the Year; Bill Kutchins, Good Neighbor of the Year; Cherise Petty, Volunteer of the Year; Knights of Columbus, District 27 was named Outstanding Organization; and Christine Towne, an administrative assistant at the Arc and student at Howard Community College, was named Self Advocate of the Year.
BUSINESS
August 1, 1996
Capstone Pharmacy Services of Baltimore yesterday completed the $150 million purchase of Symphony Pharmacy Services, the long-term-care pharmacy division of Integrated Health Services of Owings Mills.The deal had been announced five weeks ago. For Integrated, it allows the company to concentrate on its long-term-care business. It is expected to provide cash to make acquisitions in areas such as home health care.For Capstone, it vastly expands the business, which provides pharmacy services to prisons and to nursing homes and other long-term-care facilities.
BUSINESS
March 10, 2007
Awards M&T Bank was presented with a Diversity Trailblazer award at the annual Black CEO Summit. Contracts The National Institutes of Health awarded Quality Associates, based in Columbia, a $260,000 contract to design and implement a document management and archiving system. Correct Rx Pharmacy Services Inc. won a contract to provide pharmacy services to 14 correctional facilities in Maine. Warschawski has been retained by The Athlete's Foot as its agency of record. Terms of the agreement were not disclosed.
NEWS
August 16, 2006
Eberhardt wins Arc President's Award Tracey Eberhardt, a past president and longtime advocate for the Arc of Howard County, has been selected by Arc President of the Board Cole Schnorf as winner of this year's President's Award. She was cited for her fundraising, fiscal management, strategic planning and lobbying efforts on behalf of children and adults with cognitive and developmental disabilities. County Executive James N. Robey was named Individual of the Year; Bill Kutchins, Good Neighbor of the Year; Cherise Petty, Volunteer of the Year; Knights of Columbus, District 27 was named Outstanding Organization; and Christine Towne, an administrative assistant at the Arc and student at Howard Community College, was named Self Advocate of the Year.
NEWS
February 2, 1992
Fallston Pharmacy recently was recognized as one of the nation's outstanding independent drugstore retailers.The Oct. 28 edition of Drug Topics, the news magazine for today's pharmacies, released its list of "independent superstars." Selections were made by the nation's drug wholesalers. Outstanding pharmacies were named in five categories -- excellence in pharmacy service, outstanding non-pharmacy services, overcoming competition, crisis management and other services.Fallston Pharmacy, recognized for excellence in pharmacy services, is one of only 61 pharmacies nationwide selected for this honor.
BUSINESS
August 9, 1996
Capstone Pharmacy Services Inc. yesterday said it had sold 2.1 million shares of common stock to its largest investor to help finance its $150 million acquisition of Integrated Health Services's pharmacy unit.Counsel Corp. paid about $25 million for the stock through a private placement on July 29, said Allan Silber, Counsel's chairman and chief executive.Baltimore-based Capstone, which provides pharmaceutical services to prisons, nursing homes and other long-term-care facilities, completed the purchase of Symphony Pharmacy Services, the long-term-care pharmacy division of Integrated Health Services of Owings Mills, last month.
NEWS
October 14, 1999
Robert E. Snyder, 68, hospital pharmacy directorRobert E. Snyder, retired director of pharmacy services at Maryland General Hospital and a longtime member of the Handel Choir of Baltimore, died Oct. 7 of a brain tumor at home in the St. Paul at Chase Condominiums. He was 68.He joined the Maryland General staff in 1958 and was promoted to director of pharmacy services in 1965. He retired in 1997.For more than 30 years, Mr. Snyder, a bass, sang with the Handel Choir. He was a past president of the group.
BUSINESS
February 16, 2002
In the Region State Farm raising Maryland auto rates starting March 15 State Farm announced yesterday that it will raise its automobile insurance rates in Maryland an average of 7.3 percent beginning March 15. The company, the largest auto insurer in the nation, insures about one in six Maryland drivers. It last changed its rates in December 2000, when it lowered premiums for some types of vehicles. For most customers, premiums for liability, personal injury protection and uninsured motor vehicle coverage will increase, the company said.
NEWS
October 14, 1999
Robert E. Snyder, 68, hospital pharmacy directorRobert E. Snyder, retired director of pharmacy services at Maryland General Hospital and a longtime member of the Handel Choir of Baltimore, died Oct. 7 of a brain tumor at home in the St. Paul at Chase Condominiums. He was 68.He joined the Maryland General staff in 1958 and was promoted to director of pharmacy services in 1965. He retired in 1997.For more than 30 years, Mr. Snyder, a bass, sang with the Handel Choir. He was a past president of the group.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | August 21, 1998
Integrated Health Services is getting out of the institutional pharmacy business -- again.The Owings Mills operator of facilities and services for post-hospital care announced yesterday that it is selling its institutional pharmacy division, National Institutional Pharmacy Services Inc. (NIPSI), to PharMerica Inc. of Tampa, Fla.Terms of the deal were not disclosed. Institutional pharmacies fill prescriptions for nursing homes, prisons and other institutions.In July 1996, Integrated sold what was then its institutional pharmacy division, Symphony Pharmacy Services, to Capstone Pharmacy Services of Baltimore for $150 million.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | April 17, 1997
Capstone Pharmacy Services announced yesterday that it will acquire Pharmacy Corp. of America, the institutional pharmacy division of Beverly Enterprises, in a deal valued at $862 million.The deal will bring management and board changes to Capstone, and will result in its headquarters moving from Baltimore to Dallas or the Tampa, Fla., area.But Capstone had already planned to move its headquarters, Dirk Allison, Capstone's president and chief executive officer, said yesterday.He said the headquarters move would mean the loss of 30 to 35 jobs at its Washington Boulevard facility.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | March 27, 1997
Manor Care Inc., the Gaithersburg operator of long-term care and assisted-living facilities, yesterday reported earnings of $61.4 million for the third quarter, including $37.1 million from the sale of part of its interest in Vitalink Pharmacy Services.Without the Vitalink proceeds, Manor Care earned $24.3 million, or 38 cents a share, up 16.3 percent from $20.9 million, or 33 cents a share, in the same quarter a year earlier.Earnings were 1 cent a share less than the average projected by nine analysts surveyed by I/B/E/S International.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | January 8, 1997
Capstone Pharmacy Services of Baltimore announced yesterday that it will acquire Clinical Care Health Care Services, the largest independent institutional pharmacy in California.With contracts to provide prescription services to 20,000 beds in nursing homes and assisted-living facilities in the Los Angeles and San Diego areas, Clinical Care will give a solid boost to Capstone, which serves 94,000 beds in long-term facilities in 14 states.Terms of the acquisition were not disclosed.The deal is another step in Capstone's strategy of consolidating smaller, regional institutional pharmacies into a national operation with a strong presence in major markets such as New York and Chicago.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | November 8, 1996
Capstone Pharmacy Services of Baltimore reported a loss for the third quarter of $3.3 million, or 17 cents a share, after one-time charges associated with the acquisition of Symphony Pharmacy Services, the pharmacy division of Integrated Health Services of Owings Mills.Without the one-time charge of $2.8 million and financing charges of $4.6 million, net income would have been 6 cents a share. That exceeded a consensus estimate of 3 cents based on a survey of five analysts by Zacks Investment Research.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | May 16, 1996
More than doubling its revenue, Capstone Pharmacy Services of Baltimore yesterday reported earnings of $286,000 in the first quarter of 1996, compared with a loss of $2.5 million in the first quarter a year earlier.With a new business focus, a new management team, a new fiscal year and even a new name -- it was called Choice Drugs Inc. until October -- Capstone boosted revenues by 101 percent to $22 million."It's a function of having a strategy and following it," said R. Dirk Allison, president and CEO of Capstone, of the turnaround.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | November 8, 1996
Capstone Pharmacy Services of Baltimore reported a loss for the third quarter of $3.3 million, or 17 cents a share, after one-time charges associated with the acquisition of Symphony Pharmacy Services, the pharmacy division of Integrated Health Services of Owings Mills.Without the one-time charge of $2.8 million and financing charges of $4.6 million, net income would have been 6 cents a share. That exceeded a consensus estimate of 3 cents based on a survey of five analysts by Zacks Investment Research.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | September 5, 1996
Vitalink Pharmacy Services Inc., the institutional pharmacy unit of Manor Care Inc., yesterday announced it was buying the pharmacy division of GranCare Inc. of Atlanta for stock and assumed debt that Vitalink valued at $370 million.GranCare will spin off its nursing home operation before the deal closes, which is expected to be by the end of the year. Vitalink, which is 82 percent owned by Manor Care of Silver Spring, will then issue 11.6 million shares for GranCare's stock and assume $107 million in debt.
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