TYSONS CORNER, Va., July 7, 2015 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC) today announced that its Board of Directors has accepted the resignation of Robert "Bob" Schneiderman as the Company's President, Chief Executive Officer (CEO) and Board member, effective July 1, 2015.
ScripsAmerica has designated current Chairman of the Board, Brian Ettinger as Interim CEO and Director of Business Development, Adam Brosius as Interim President. According to the Company, its Board of Directors will consider Mr. Brosius as a permanent candidate for these executive management positions when it conducts a search for ScripsAmerica's new CEO and President. The executive search will begin immediately and the Company estimates it will be complete before December 31, 2015.
"ScripsAmerica would like to thank Mr. Schneiderman for his years of dedicated service and leadership of our company and wish him the best in his future endeavors. As one of its founding members, Bob led ScripsAmerica to success in the healthcare industry by growing and adapting our core business while also taking it from a privately held company to a publicly traded corporation," commented Interim CEO, Brian Ettinger.
"Moving forward, ScripsAmerica is excited to welcome new leadership as the Company continues working diligently to increase revenues and shareholder value, primarily by expanding our specialty pharmacy operations while significantly reducing our expenses. We would also like to thank our shareholders for their patience regarding the Company's audited financials, which we anticipate will be complete in the near future," added Ettinger.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and nutraceutical drugs, delivering pharmaceutical products to a wide range of end users across the health care industry. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. For more information, visit www.ScripsAmerica.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.