TAMPA, Fla., May 10, 2005 (PRIMEZONE) -- Rx Processing Corporation (Pink Sheets:RXPC), a provider of low-cost prescription medications and diagnostic lab testing solutions, announced today that the Company has entered into a strategic partnership Agreement with Financial Service International, Inc. (FSI) of Covington, KY. The Agreement provides Rx Processing and its subsidiary Lab Pass Networks the ability to distribute their branded member identification numbers on FSI's Stored Value Cards.
This alliance is anticipated to increase sales of the Rx Processing's discounted prescription drugs and lab services within large groups through the added benefit of FSI's Stored Value Cards for payroll and payment services as well as improve the Company's member ID card distribution process essential to servicing corporate clients.
Peter Fiorillo commented, "Through the combination of Rx Processing's prescription drug and lab service member ID card with FSI's `Stored Value Card', we are greatly increasing our distribution capacity while offering FSI's members access to discount prescription drugs and diagnostic tests. It is a mutually beneficial relationship that should increase Rx Processing's sales to larger corporations by offering an additional value-added service to our clients."
Randy Barker, President and CEO of Financial Services International, added, "This alliance addresses clients' need to have affordable healthcare by providing them with access to a prescription drug and lab services program that offers up to 80% off retail prices. The stored value product is the way of the future and with strong benefit partners such as Rx Processing Corp., together we can become the pillar of our industry."
Financial Services International, Inc. (FSI) (www.fsicorporate.com), based in Covington, KY is a prominent financial service provider specializing in membership services centered on stored value debit cards and the FSI Essential Membership, FSI has many years of experience in the stored value card market. It has been extremely successful in delivering a wide range of financial services specifically designed to give its Members a single point of contact to meet all their financial needs.
Rx Processing is positioned to become a market leader in providing prescription drugs, lab tests and drug tests to U.S. Citizens, corporations, unions, and members through FDA-approved patient service centers for their Lab testing and licensed pharmacies in the United States and Canada. The Company provides access to approved brand name and generic medications as well as over 1,000 diagnostic tests through storefront locations with access to 6,000 FDA-approved patient service centers for their lab testing. Rx Processing estimates that more than 40 million Americans could benefit from the Company's low cost prescription drugs, lab testing and drug screening.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the Company and factors that are subject to uncertainties, risk and other influences, which are outside the Company's control, and may yield results differing materially from those anticipated.