NeighborCare buys Connecticut-based pharmacy

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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."