PharMerica Corporation (NYSE:PMC), a national provider of institutional,
specialty home infusion, and oncology pharmacy services, today announced
that on December 31, 2013 it completed the all-cash acquisition of BGS
Pharmacy Partners, Inc. Although financial terms of the transaction were
not disclosed, the Company expects the acquisition to be accretive to
earnings in 2014.
BGS Pharmacy Partners provides comprehensive pharmacy services to
long-term care facilities and other customers, primarily in Las Vegas
and Reno, Nevada and Salt Lake City, Utah.
Greg Weishar, PharMerica Corporation’s Chief Executive Officer, stated,
“The transaction increases our presence in two important markets where
we have existing operations, Las Vegas and Salt Lake City, and expands
our geographic footprint in the Reno area. BGS has a talented team and
has built a strong business based on patient care, clinical expertise,
and customer service. We look forward to working with BGS’ outstanding
client base to serve the needs of their residents.”
About PharMerica
PharMerica Corporation is a leading institutional pharmacy services
company that services healthcare facilities in the United States,
provides pharmacy management services to hospitals and specialty
infusion services to patients outside a hospital setting, and offers the
only national oncology pharmacy in the U.S. PharMerica operates 95
institutional pharmacies and 12 specialty infusion centers in 45 states.
PharMerica’s customers are institutional healthcare providers, such as
skilled nursing facilities, nursing centers, assisted living facilities,
hospitals, individuals receiving in-home care and other long-term
alternative care providers.
Forward-looking Statements
This press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which
reflect the Company’s current estimates, expectations and projections
about its future results, performance, prospects and opportunities.
Forward-looking statements include, among other matters, the information
concerning the Company’s “guidance” and possible future results of
operations, the strength of the Company’s financial and operational
performance during 2013, the impact of the brand to generic drug
conversions on the Company, the Company’s ability to identify and
consummate future acquisitions, the Company’s ability to deliver
outstanding value to its shareholders, the Company’s continued pursuit
of its strategic initiatives including those focused on client retention
and operating margins, the Company’s ability to successfully work with
Innovatix to execute the Company’s strategic initiatives and market
expansion into home infusion and specialty, and the Company’s ability to
achieve organic growth. Forward-looking statements include statements
that are not historical facts and can be identified by forward-looking
words such as “anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “plan,” “may,” “should,” “will,” “would,” “project” and
similar expressions. These forward-looking statements are based upon
information currently available to us and are subject to a number of
risks, uncertainties and other factors that could cause the Company’s
actual results, performance, prospects or opportunities to differ
materially from those expressed in, or implied by, these forward-looking
statements. Important factors that could cause the Company’s actual
results to differ materially from the results referred to in the
forward-looking statements we make in this press release include the
adequacy of our litigation-related reserves and those included in the
Risk Factors section set forth in the Company’s Annual Report on Form
10-K filed with the SEC and in other reports, including Quarterly
Reports on Form 10-Q filed with the SEC by the Company.
You are cautioned not to place undue reliance on any forward-looking
statements, all of which speak only as of the date of this press
release. Except as required by law, we undertake no obligation to
publicly update or release any revisions to these forward-looking
statements to reflect any events or circumstances after the date of this
press release or to reflect the occurrence of unanticipated events. All
subsequent written and oral forward-looking statements attributable to
us or any person acting on the Company’s behalf are expressly qualified
in their entirety by the cautionary statements contained or referred to
in this press release and in the Risk Factors section set forth in the
Company’s Annual Report on Form 10-K filed with the SEC and in other
reports filed with the SEC by the Company.
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