HealthWarehouse.com Renews Senior Secured Debt With Melrose Capital
18 Mars 2015 - 2:00PM
Business Wire
Renewal Highlights Senior Lender’s
Confidence in Management & Business Model
HealthWarehouse.com, Inc. (OTCQB:HEWA), the only Verified
Internet Pharmacy Practice Site (VIPPS) accredited online pharmacy
licensed in all 50 states serving consumers who pay out of pocket
for their prescriptions, today announced a renewal of the company’s
Senior Secured Debt for up to 12 months.
“When we first became involved with HealthWarehouse.com, we saw
the long term potential of the company. Despite many challenges
over the past 24 months, the company has been able to trim costs,
stabilize revenues and increase gross margins significantly. While
challenges remain with the balance sheet, we believe management is
moving the company in the right direction by focusing on
profitability and its core business, the out-of-pocket cash
prescription payer market,” said Tim Reilly, Managing Member of
Melrose Capital.
Terms of the renewal from Melrose Capital extend the debt six
months to September 1, 2015 and conditional on a $350,000 capital
raise the maturity date can be extended an additional six months to
March 1, 2016.
“We are fortunate to have great partners like Melrose Capital
involved in the company. The opportunity to service consumers who
pay out of pocket for their prescriptions continues to grow. As the
leader in this growing niche, we continue to stay focused on
helping consumers save money by providing them with legitimacy,
value and convenience,” said Lalit Dhadphale, President & CEO
of HealthWarehouse.com.
A recent article by WCPO TV Reporter John Matarese showed
HealthWarehouse.com having the lowest priced generic prescription
medications when compared with other legitimate pharmacies.
The following table highlights pricing on four medications
mentioned in the comparison:
30 Tablets HealthWarehouse Walgreens CVS
Sam’s Club Atorvastatin 10mg
(Lipitor)
$14 $63 $97 $29 Pioglitazone 15mg
(Actos)
$12 $104 $155 $82 Zolpidem 10mg
(Ambien)
$15 $54 $50 $30 Escitalopram 5mg
(Lexapro)
$13 $120 $104 $86
A link to the video and full article can be found at:
http://www.wcpo.com/money/consumer/dont-waste-your-money/who-has-the-lowest-generic-drug-prices
About HealthWarehouse.comHealthWarehouse.com, Inc.
(OTCQB:HEWA) is a trusted VIPPS accredited online pharmacy based in
Florence, Kentucky. The company is focused on the growing out of
pocket prescription market, which is expected to grow to $80
billion in 2015. With a mission to provide affordable healthcare to
every American by focusing on technology that is revolutionizing
prescription delivery, HealthWarehouse.com has become the largest
VIPPS accredited online pharmacy in the United States.
HealthWarehouse.com is licensed in all 50 states and only sells
drugs that are FDA-approved and legal for sale in the United
States. Visit HealthWarehouse.com online at
http://www.HealthWarehouse.com.
Forward-Looking StatementsThis announcement contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Actual results may differ significantly from
management's expectations. These forward-looking statements involve
risks and uncertainties that include, among others, risks related
to competition, management of growth, new products, services and
technologies, potential fluctuations in operating results,
international expansion, outcomes of legal proceedings and claims,
fulfillment center optimization, seasonality, commercial
agreements, acquisitions and strategic transactions, foreign
exchange rates, system interruption, inventory, government
regulation and taxation, payments and fraud. More information about
factors that potentially could affect HealthWarehouse.com's
financial results is included in HealthWarehouse.com's filings with
the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K and subsequent filings.
HealthWarehouse.comLalit
Dhadphale,859-444-7341lalit@healthwarehouse.com
HealthWarehouse.comLalit Dhadphale,
859-444-7341lalit@healthwarehouse.com
HealthWarehouse com (QB) (USOTC:HEWA)
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