Kindred, AmerisourceBergen to merge pharmacy services

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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.
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