SAN DIEGO, March 09, 2020 (GLOBE NEWSWIRE) -- ImprimisRx, the nation’s leading ophthalmic-focused outsourcing facility and pharmaceutical compounding business, and a wholly-owned subsidiary of Harrow Health, Inc. (NASDAQ: HROW), announced that it has agreed to a product supply agreement with iOR Partners. Under the agreement, ImprimisRx will provide a variety of formulations needed for in-office surgeries, including the MKO Melt® and various injectable and topical products. iOR Partners is an innovator in the field of office-based cataract surgery, which is a surgical or invasive procedure performed by a licensed physician in a location other than a hospital or ambulatory surgery center that utilizes minimal to moderate anesthetics. By keeping their clinic and surgery center in one place, doctors can see more patients, employ the same staff for clinic and surgery, improve productivity, and lower patient anxiety by having procedures performed in a familiar environment. iOR is growing rapidly, expecting to have 75 office-based cataract surgery suites by the end of next year, accounting for more than 45,000 surgical procedures annually.
John Saharek, President of ImprimisRx, commented, “iOR Partners has an exciting business model and we are thrilled to partner with them as they help ophthalmologists make it easier to provide high-quality care to their patients. In-office surgery is likely where the ophthalmic surgery market is headed, so we’re pleased to provide iOR with the pharmaceutical formulations needed to continue the impressive progress they’re making as they help lead our industry forward.”
Tony Burns, Founder and Partner of iOR Partners, stated, “ImprimisRx is a trusted provider within the ophthalmic community offering a unique suite of formulations not available commercially, and are a natural fit for ophthalmologists looking to provide a more personalized and comfortable patient experience. Both companies are passionate about helping doctors to improve the patient experience, so we are excited to have ImprimisRx working with us going forward.”
About iOR Partners
iOR Partners is the only company dedicated to office-based cataract surgery suites and has established more than 100 of them. iOR primarily develops Class A and Class B office-based surgery suites which adhere to the highest clinical and ethical standards, delivering a comprehensive, ongoing, turnkey office-based surgery program. The solutions introduced by iOR Partners help patients by providing them with a personalized surgical experience in a familiar setting, and allows doctors to keep their own staff, combine clinical and surgery schedules, increase patient capacity, and maintain the highest levels of patient safety.
About ImprimisRx
ImprimisRx is the nation’s leading ophthalmology-focused outsourcing facility and pharmaceutical compounding business, serving thousands of ophthalmologists and optometrists in all 50 states, with 40 proprietary ophthalmic formulations. ImprimisRx is headquartered in San Diego, CA and owns two FDA-inspected production and dispensing facilities in Ledgewood, New Jersey. There have been over three million eyes served by the formulations produced at these facilities. For more information about ImprimisRx, including ordering instructions, please visit our website, www.imprimisrx.com/.
About Harrow Health
Harrow Health, Inc. (NASDAQ: HROW) owns a portfolio of healthcare businesses, including ImprimisRx, the nation’s leading ophthalmology outsourcing facility and pharmaceutical compounding business. The company holds large equity positions in Eton Pharmaceuticals, Surface Pharmaceuticals, Melt Pharmaceuticals, Mayfield Pharmaceuticals, Stowe Pharmaceuticals, and Radley Pharmaceuticals, all companies founded as subsidiaries of Harrow Health. The Company also owns royalty rights in certain drug candidates being developed by Surface, Melt, Mayfield and Radley. Harrow intends to create, invest in and grow paradigm shifting healthcare businesses that put patients first. For more information about Harrow Health, please visit the Investor Relations section of the corporate website by clicking here.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements." Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to make commercially available our compounded formulations and technologies in a timely manner or at all; physician interest in prescribing our formulations; risks related to our compounding pharmacy operations; our ability to enter into other strategic alliances, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of our formulations; our ability to obtain intellectual property protection for our assets; our ability to accurately estimate our expenses and cash burn, and raise additional funds when necessary; risks related to research and development activities; the projected size of the potential market for our technologies and formulations; unexpected new data, safety and technical issues; regulatory and market developments impacting compounding pharmacies, outsourcing facilities and the pharmaceutical industry; competition; and market conditions. These and additional risks and uncertainties are more fully described in Harrow Health’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Such documents may be read free of charge on the SEC's web site at www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Harrow Health undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
No ImprimisRx compounded formulation is FDA-approved. Other than drugs compounded at a registered outsourcing facility, all ImprimisRx compounded formulations require a prescription for an individually identified patient consistent with federal and state laws.
Investor Contact:
Jon Patton
jpatton@harrowinc.com
858-704-4587
Media Contact:
Deb Holliday
Holliday Communications, Inc.
deb@hollidaycommunications.net
412.877.4519
Contact for iOR Partners:
Brooke Basaldua
Director of Marketing
816-897-7670
bbasaldua@iorpartners.com
Source: ImprimisRx and Harrow Health, Inc.