Omnicare said to be exploring sale

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Omnicare Long Term Care Group    -- Booth 2013
Omnicare Long Term Care Group -- Booth 2013

The nation's largest pharmacy services provider for nursing homes is believed to be looking for a buyer.

Omnicare has engaged financial advisors to help search for a new owner, BloombergBusiness reported Wednesday afternoon, citing sources “with knowledge of the matter.”

With an estimated value of $8.2 billion and clients in thousands of nursing homes, Omnicare is far and away the largest pharmacist for seniors in institutionalized healthcare settings.

The exploration of a possible sale is still just in its beginning stages and there is no guarantee that a deal will be consummated, BloombergBusiness' sources added.

An Omnicare representative declined comment, citing company policy, Bloomberg reported. Omnicare shares achieved a record-high close of $84.52 on Wednesday, an uptick of 4.3%.