IRVINE, Calif. Assured Pharmacy announced the closing of one Oregon pharmacy location on Thursday. The pharmacy is now being consolidated into Assureds’ other location in Portland, where the company feels it will leverage its existing infrastructure, and reduce costs.
Assured is a retail company that focuses on patients who have chronic pain, as well as physicians who treat it. The goal of the company has been to seek areas with a high volume of physicians and to have an advantage in the marketplace to sell chronic pain medications, and to reach their annual revenue target of $5 million per pharmacy, another reason for closing one of two locations in the same city.
“We are exploring other potential locations in the Oregon area, as well as in other states,” Robert Delvecchio, chief executive officer of Assured Pharmacy, stated. “At this early stage in our growth, we believe we are able to cherry pick the best opportunities for our new pharmacy locations. The strength of our business model is in the financial metrics. We remain committed to growing and developing retail pharmacies in locations in which our careful due diligence indicates significant demand for our services.”