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By KRIS HUNDLEY
© St. Petersburg Times, published June 18, 2001
Since it morphed from the corporate shell of NuMed Surgical Inc. about two years ago, DrugMax.com of Largo has shown at least one quality of a dot-com: continuing losses.
Most recently, the wholesale drug distributor said it lost $7.8-million on sales of $177.7-million for the year ended March 31.
The company, which was briefly known as Nutriceuticals.com, also went on an acquisition tear, picking up about a half-dozen companies, including an online portal for pet products. Luckily DrugMax.com, which touted its ability to wholesale drugs online, also bought three old-fashioned, brick-and-mortar drug distribution businesses.
Last week, DrugMax.com acknowledged that the traditional part of its business brings in far more revenue than online sales. "Some people always order online," said William LaGamba, president and chief operating officer. "But we also have people who send us an e-mail saying, 'Please call me.' The Internet is just a tool of how we do business."
In recognition of its more traditional base, DrugMax.com said it's shedding the once-cool ".com" suffix in August and simply will be known as DrugMax Inc.
Next up, LaGamba said, is profitability, though he declines to say when.