NeighborCare buys Connecticut-based pharmacy
NeighborCare Inc. bought a Connecticut-based Medicine Centre LLC, a long-term care pharmacy serving nursing homes and assisted living facilities Monday. Financial terms of the transaction were not disclosed.
The Medicine Centre generates revenue of approximately $30 million annually and serves more than 7,000 beds, according to Baltimore-based NeighborCare.
"We are very pleased to complete this acquisition and continue to execute on our acquisition plan for the year," chief executive John J. Arlotta said in a statement. "It is strategically important to us and fits well with our growth strategy. We will continue to build NeighborCare through both acquisitions as well as organic growth."