Dougherty's Pharmacy, Inc. (“Dougherty's,” which is also referred to in this Annual Report as “we,” “us,” or “the Company”) is a value oriented company focused on successfully acquiring, managing and growing community based pharmacies in the Southwest Region. Dougherty's was incorporated as Ascendant Solutions, Inc. in Delaware on August 8, 2000. On May 10th, 2017, the Company amended its Certificate of Incorporation to change its name from “Ascendant Solutions, Inc.” to “Dougherty's Pharmacy, Inc.” to reflect the current focus and operating structure from the previous focus on making equity investments in underperforming or distressed U.S. lower middle-market businesses in the manufacturing, distribution, service, healthcare, finance and retail industries. Since December 31, 2013, the Company investments included its wholly owned subsidiary Dougherty's Holdings, Inc. (“DHI”), under which it operates its retail pharmacy business and its wholly owned subsidiary ASDS of Orange County, Inc. which operated as a holding company for the investment in CRESA Partners of Orange County, Inc., a tenant representation and real estate advisory services company that was liquidated on February 7, 2017.
Effective December 31, 2013, the Company changed its focus to acquire, manage, and grow community-based pharmacies in the Southwest Region of the United States, and since then has engaged in a number of acquisition transactions to expand our pharmacy business and to minimize and ultimately divest our other business interests.
On August 4, 2014, DHI acquired the patient prescription files of Family Pharmacy located in Lewisville, Texas.