TimeMed acquires Rx products firms
TimeMed Labeling Systems, a label converter that focuses on products for the healthcare industry, has acquired Automatic Business Products Company Inc. (ABP), a provider of business forms and labels. Included in the purchase is Pharmex, ABP’s pharmaceutical labeling products and services division.
According to TimeMed, ABP developed the first multiple roll warning label dispenser and is the originator and largest supplier of copyrighted warning labels for prescriptions. As part of the acquisition, TimeMed receives the rights to several ABP labeling products and processes that are used in the healthcare and pharmaceutical industries.
“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,” says 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.”
Nerad adds, “TimeMed has the resources and technology to extend ABP’s products to an even larger marketplace. With ABP’s products, we extend our expertise into retail outlets, government agencies, the military and pharmacies; diversify our offerings; and significantly grow our existing and potential customer base.”
TimeMed is headquartered in Burr Ridge, IL, USA. ABP and Pharmex will continue to operate out of their New Smyrna Beach, FL, USA manufacturing facility.