This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Selway Capital Acquisition Corporation Announces Agreement For Business Combination

Selway Capital Acquisition Corporation (OTCBB: SWCA, SWCAW, SWCAU) announced today that it has signed a definitive agreement to enter into a business combination with Healthcare Corporation of America, Inc. (HCCA) , which is one of the fastest growing PBM’s in the market. Upon closing, Selway will change its name to Healthcare Corporation of America.

Management expects the closing to occur by mid-March 2013, subject to the satisfaction of closing conditions specified in more detail in the Current Report on Form 8-K to be filed by Selway.

Selway does not require shareholder approval to close the transaction. The combined company plans to conduct a post-closing tender offer so its public shareholders have the opportunity to convert their shares and participate in the transaction. The combined company will file the necessary documents with the Securities and Exchange Commission within thirty days after the closing of the business combination.

Business Overview

Healthcare Corporation of America is a rapidly growing pharmacy benefit manager, or PBM. Its mission is to reduce prescription drug costs for clients while improving the quality of drug care. It administers prescription drug benefits programs for employers who contract with it in order to provide this component of healthcare benefits to their employees. A growing customer base includes commercial clients of various sizes and industries, business associations and trade groups, local government entities, labor unions, charitable and non-profit organizations, and third-party administrators of self-insured benefit plans. The business model is firmly based on price transparency and proactive benefit cost management. The company operates in the marketplace under the name of its subsidiary, Prescription Corporation of America, or PCA.

HCCA has its headquarters in Denville, New Jersey.

HCCA has experienced rapid growth since operating under its current business model. In its first year in the market, 2010, the company booked approximately $358,469 of revenue. In 2011, it reached $28.2 million of revenue. Pending results of its audit, the company is expected to have approximately $38.4 million of revenue in 2012.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs