Innovative Software Technologies has signed a letter to acquire Galaxy Meds, Inc., a Florida- based pharmaceutical management company.

Galaxy Meds provides a customized dispensing program that includes insurance adjudication, physician credentialing, staff training by a qualified trainer (not a sales representative) claims processing and inventory control software. The company also offers wholesale pricing on brand and generic medications, which provides maximum profits to the physician’s practice, the company stated in a press release.

“Innovative is excited about Galaxy Meds and the broad range of comprehensive healthcare solutions it brings to the Innovative platform," stated Amjad Tareen, President of Innovative. "The Galaxy Meds model enables Innovative to offer physicians the ability to improve patient care. As a public company, we believe Innovative will be able to accelerate the product offering for physicians. We are impressed by the vision and leadership skills of the Galaxy Meds founder and President Carl G. Jolicoeur and his team.”

Galaxy Meds is focused on partnering with healthcare providers, according to company officials. The company’s goal is to develop a matrix of cost containment tools and products that can merge into any healthcare network to enhance patient care and improve the managed care organization’s bottom line. Galaxy Meds provides dispensing technology, products and prepackaged medications that are used by patient, insurance payers and healthcare providers.

In May 2011, the company announced that it has entered into a Settlement and Rescission Agreement with Robert W. Singerman, the former owner of The WEB Channel Network, LLC. The terms and conditions of the agreement are reported in the 8-K regulatory filing.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO East 2012, taking place Jan. 31-Feb. 3 2012, in Miami, FL. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO registration click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.