SOURCE: Tri-Star Holdings, Inc.

March 05, 2009 08:00 ET

Lyfetec, Inc., Formerly Tri-Star Holdings, Inc., Finalizing Negotiations to Acquire Compounding Pharmacies

FT. LAUDERDALE, FL--(Marketwire - March 5, 2009) - Lyfetec, Inc. (PINKSHEETS: TSHL) has reached an important agreement in principle to begin acquisition of three profitable compounding pharmacies and one retail pharmacy in 2009. The pharmacies are located in Florida, California and New York and are projected to provide Lyfetec with annual revenue averaging $2,500,000 USD each with strong net profits as well.

The completion of this transaction places the now pre-revenue company in a strong position for growth with new important retail and electronic commerce outlets for its personal testing product line. Management and key shareholders of Lyfetec, formerly Tri-Star Holdings, Inc., have been in the negotiation stage to acquire the pharmacies for over a year and last week it was disclosed that the parties reached an important milestone for financing and integration.

The pharmacies are "compounding" pharmacies which have several long term contracts in place for providing products and services to hospitals, clinics and other professional medical organizations. Lyfetec seeks to expand the integrated businesses in 2010 establishing a core group of professionals to create a mini-chain that will concentrate on personal health and wellness.

Mr. Matteis, the company's CEO, said: "An important focus here, is to establish a new approach, direct to consumer, such that families and individuals can become more connected to their health and obtain the personal testing products they need to identify major illness at the earliest possible stage. Pharmacies are an ideal venue to accomplish this and represent an important component of the Tri-Star initiative."

Future plans include the incorporation of "mini-clinics" within the pharmacies and a strong e-commerce presence. Also, offering products internationally is a key ingredient in Tri-Star expansion plans as American health products and services are seen as the most effective and desirable worldwide. For more information visit our Web Site at www.lyfetec.com.

Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.

Contact Information

  • Contact:
    Email Contact
    Phone 954-772-2640
    Fax 954-772-2643

    Officers:
    Phil Matteis
    Chairman and CEO
    Steven Cohen
    Executive Vice President