Omnicare continues spree, buys hospice pharmaceutical player for $269 million
Long-term care pharmacy giant Omnicare Inc., fresh off its acquisition of NeighborCare Inc., returned to the hunt. It said Monday it agreed to purchase excelleRx Inc., a provider of pharmaceutical care services for hospice patients, for $269 million in cash.
The deal came just four days after it announced it would buy NeighborCare, an institutional pharmacy provider, for $1.55 billion in cash. Just two days prior to that acquisition, it bought RxCrossroads, a provider of specialty pharmaceutical services, for $235 million in cash.
Besides complementing Omnicare's hospice business, excelleRx's technology and call center infrastructure, as well as its clinical resources and expertise "are expected to serve as an excellent platform for growth in the provision of pharmacy services," President and CEO Joel F. Gemunder said.