Kindred, AmerisourceBergen to merge pharmacy services
Kindred Healthcare Inc. and AmerisourceBergen Corp. have reached a tentative agreement to combine their institutional-pharmacy businesses into a new, independent publicly traded company.The new firm will be the nation's second-largest institutional pharmacy in the country. Omnicare Inc., of Covington, KY, would remain the biggest. Annual revenues for the new business are expected to be about $1.9 billion, according to figures from Louisville, KY-based Kindred.
AmerisourceBergen, which is based in Chesterbrook, PA, and Kindred each will own 50% of the shares of the new company. Combined, the company's revenues totaled $926 million in the first half of 2006, according to company reports. Omnicare's unaudited sales for the first half of the year totaled $3.3 billion.