TAMPA, Fla., July 21, 2005 (PRIMEZONE) -- Rx Processing Corporation (Pink Sheets:RXPC), a leading source of low-cost prescription medications for millions of Americans who have no prescription insurance coverage, announces today that the Company has acquired Financial Services International, Inc. (FSI). Rx Processing has acquired 100% ownership in Financial Services International in exchange for 500,000 shares of Common Stock and the assumption of approximately $250,000 in debt.
Financial Services International is a prominent financial service provider specializing in membership services centered around the FSI Essential Membership, which provides 30 million unbanked U.S. citizens with access to financial services specifically designed to give cardholders a single point of contact to meet their financial needs with one MasterCard or Maestro Debit Card. Following this acquisition, consumers with one of these cards will have the ability to buy their prescription drugs and lab services at an additional 5% below Rx Processing's already discounted retail prices. Customers will be able to load their cards at any one of 32,000 locations across the United States with the funds being held in secure, FDIC insured, bank accounts at FSI's issuing banks.
Randy Barker, President of Financial Services International, stated, "The combination of FSI's financial services and Rx Processing Corp's valuable prescription and lab testing services in a single card is a winning combination for millions of uninsured Americans. To ensure the success of this merger, I have decided to continue working with Rx Processing Corp under a long term employment contract as we continue to build new clients and provide our members with two of the most important services in daily life, access to personal finances and affordable healthcare."
Peter Fiorillo, CEO of Rx Processing commented, "This strategic acquisition enables Rx Processing to expand its product offerings and value proposition to its existing customers. Additionally, we anticipate building upon our customer base with new services that can significantly increase revenues and expand the scope of our services into the financial services industry. With this new acquisition, Rx Processing is making progress toward achieving an important strategic objective of becoming a reporting company and applying to a broader exchange."
About Rx Processing
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.
About Financial Services International, Inc.
Financial Services International, Inc. (FSI), based in Florence, KY, is a prominent financial services 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. To learn more about Financial Services International, please visit http://www.fsicorporate.com .
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.