SOURCE: TimeMed Labeling Systems

March 06, 2006 09:00 ET

TimeMed Acquires Business and Pharmaceutical Labeling and Supplies Company, Automatic Business Products

Acquisition Includes ABP Division Pharmex; Helps TimeMed Expand Into Business, Government and Retail Pharmacy Markets While Maintaining Focus on Labeling Solutions

BURR RIDGE, IL and NEW SMYRNA BEACH, FL -- (MARKET WIRE) -- March 6, 2006 -- TimeMed Labeling Systems, a leader in labeling products, systems and services for the healthcare industry, today announced that it has acquired Automatic Business Products Company, Inc. (ABP), a leading provider of business forms and labeling solutions. Included in the purchase is ABP's pharmaceutical labeling products and services division, Pharmex. ABP developed the first multiple roll warning label dispenser and is the originator and largest supplier of copyrighted warning labels for prescriptions. By the 1970s, nearly every pharmacy in the United States and Canada had a Pharmex Warning Label Dispenser and Drug Chart.

As part of the acquisition, TimeMed receives the rights to several ABP labeling products and processes that are extensively used in the healthcare and pharmaceutical industries. The patented products, which are currently being used nationwide by VA hospitals and pharmacies such as CVS, Target and Walgreens, include:

--  PharmeXcript: Prescription bottle ViaLabel™ wraparound label with
    "FlickAway®" warning label technology that eliminates the task of peeling
    individual labels from a form dispenser;
--  Laser Rx Labels: Prescription drug labels for laser printers;
--  Soft Fonts™: Software formatted warning labels inside the pharmacy
    software; allows Pharmex' prescription drug warning labels to be printed
    from virtually any printer; and
--  Tape box and tape dispensing apparatus.
    
"ABP is a strategic acquisition that adds significant value to TimeMed's product offerings, and allows us to expand beyond the hospital into other areas of healthcare, business, government and the military, while still focusing on our core strength -- labels," said Jerry Nerad, president of TimeMed. "With the acquisition of ABP and Pharmex, our company now has more than 110 years of combined experience in the healthcare industry, and we are committed to capitalizing on that experience to serve both TimeMed and ABP's customers. We will continue to rely upon the experience and expertise of ABP's and Pharmex' employees' as we work to quickly and effectively integrate ABP's complementary product offerings into the TimeMed family."

Mr. Nerad added, "TimeMed has the resources and technology to extend ABP's products to an even larger marketplace. We have built a solid reputation as the first choice for labeling solutions for hospitals and laboratories across the country. With ABP's products, we extend our labeling expertise into retail outlets, government agencies, the military and pharmacies; diversify our offerings; and significantly grow our existing and potential customer base."

In addition to ABP's business forms, supplies and patented labeling solutions, Pharmex is a leading provider of pharmacy supplies to community pharmacies across the country. The supplies include security equipment, HIPAA resources, prescription drug containers, pharmacy tools and office supplies.

"ABP has been a one-stop shop for businesses and pharmacies for more than 50 years, and along the way we have listened closely to the various needs of our customers to develop a number of solutions that make their jobs easier," stated Kris Oberdick for ABP. "ABP has been on the forefront of prescription labeling technology for many years and has created patented solutions that are being used daily in thousands of hospitals and pharmacies across the country. The time is right to turn over the reigns of our organization to TimeMed, which will continue to provide first-class support to our loyal customers and broaden sales opportunities for our solutions."

ABP and Pharmex will continue to operate out of its New Smyrna Beach manufacturing facility. The company also operates the e-commerce Web sites www.pharmex.com and www.abpeasy.com.

About Automatic Business Products Company (ABP), Inc.

Founded in 1947 by Richard W. Foote, ABP is dedicated to providing organizations with the forms, supplies and services they need to do business. Based on nearly 60 years of experience manufacturing business forms and pressure sensitive labels, ABP became the originator and largest supplier of copyrighted warning labels along with the first multiple roll warning label dispenser. In 1973, ABP created the Pharmex division, and followed with the development of Patient Advisory Leaflets (PAL's®), paperback consumer books, computer driven prescription forms sets, and most recently, PharmeXcript® with patented FlickAway®, the fastest and most efficient laser or thermal script configuration on the market. ABP is a private company based in New Smyrna Beach, Fla.

About TimeMed

Founded in 1955, TimeMed Labeling Systems Inc. is an industry leader in quality labeling products, systems and services for the healthcare industry. TimeMed produces labeling solutions designed to improve patient safety and medical accuracy for healthcare facilities, as well as systems to help support supply chain management. TimeMed is headquartered in Burr Ridge, Ill. and has manufacturing facilities in Dallas, Texas and Chatsworth, Calif. For more information about TimeMed, visit http://www.timemed.com.

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