PharMerica Corporation (NYSE:PMC), a diversified national provider of institutional and specialty pharmacy services, today announced that it has completed two transactions.
- PharMerica has acquired Integrated Pharmacy Network (“IPN”), a long-term care pharmacy. IPN, based in Midland, MI, provides comprehensive pharmacy services to long-term care and other healthcare facilities.
- The Company’s Amerita subsidiary acquired Alternacare Infusion Pharmacy (“Alternacare”). Alternacare, based in Olathe, KS, provides specialty home infusion services in the greater Kansas City metropolitan area.
Terms of the transactions were not disclosed. With these acquisitions, PharMerica has achieved its goal of completing acquisitions that generate at least $100 million of annualized sales, in the aggregate, in 2015.
Greg Weishar, PharMerica Corporation’s Chief Executive Officer stated “We are pleased to have completed our annual objective for value-enhancing acquisitions. These transactions are consistent with our strategy to bolster share in the long-term care market and to expand our presence in the specialty home infusion industry.”
Mr. Weishar continued, “We look forward to working with management of both companies to extend their track records of outstanding customer service.”
PharMerica Corporation is a leading provider of pharmacy services. PharMerica serves the long-term care, hospital pharmacy management services, specialty home infusion and oncology pharmacy markets. PharMerica operates 95 institutional pharmacies, 16 specialty home infusion pharmacies and 5 specialty oncology pharmacies in 45 states. PharMerica’s customers are institutional healthcare providers, such as skilled nursing facilities, assisted living facilities, hospitals, individuals receiving in-home care and patients with cancer.
David W. Froesel, Jr.
Executive Vice President,
Chief Financial Officer and Treasurer