TimeMed sticks ABP to its assets
(ABP), a provider of business forms and labeling solutions,
expanding both its product portfolio and its customer base.
Since TimeMed already provides labeling products, systems and services for the healthcare industry, it hopes it can use the acquisition to move to other areas of healthcare, business, government and the military, while still focusing on its core strength which is labels.
ABP is an important player in the industry as it developed the first multiple roll warning label dispenser and is the originator and largest supplier of copyrighted warning labels for prescriptions.
Of particular interest to TimeMed is ABP's labeling products and services division, Pharmex, since, by the 1970s, nearly every pharmacy in the United States and Canada had a Pharmex warning label dispenser and drug chart.
"TimeMed has the resources and technology to extend ABP's products to an even larger marketplace," Jerry Nerad, president of TimeMed.
"We have built a solid reputation as the first choice for labeling solutions for hospitals and laboratories across the country.
"With ABP's products, we extend our labeling expertise into retail outlets, government agencies, the military and pharmacies; diversify our offerings; and significantly grow our existing and potential customer base."
The deal gives TimeMed the rights to several ABP labeling products and processes in the healthcare and pharmaceutical industries.
Some of the patented products used in American hospitals include a wraparound label with "FlickAway" warning label technology for prescription bottle ViaLabel that eliminates the task of peeling individual labels from a form dispenser and prescription drug labels for laser printers.
TimeMed will also be distributing ABP's software which allows Pharmex prescription drug warning labels to be printed from virtually any printer.
"ABP has been a one-stop shop for businesses and pharmacies for more than 50 years, and along the way we have listened closely to the various needs of our customers to develop a number of solutions that make their jobs easier," stated Kris Oberdick for ABP.
"ABP has been on the forefront of prescription labeling technology for many years and has created patented solutions that are being used daily in thousands of hospitals and pharmacies across the country.
"The time is right to turn over the reigns of our organization to TimeMed, which will continue to provide first-class support to our loyal customers and broaden sales opportunities for our solutions."
ABP will continue to operate out of its New Smyrna Beach manufacturing facility.
