Omnicare Is Said to Explore Sale of Nursing Home Drug Supplier
2015-04-22 19:25:30.37 GMT
By Ed Hammond, Jeffrey McCracken and Matthew Campbell
(Bloomberg) -- Omnicare Inc., a supplier of drugs and
services to nursing homes, is exploring a sale, people with
knowledge of the matter said.
The company, with a market value of about $7.9 billion, is
working with financial advisers as it seeks buyers, the people
said. The sale process is at an early stage and its possible no
deal will be reached, the people cautioned.
Omnicare delivers drugs and helps senior living facilities
manage their residents’ medications. Demand for such pharmacy
services is rising as patients, insurers and companies look for
ways to manage costs with drug prices on the rise.
A spokesman for Omnicare didn’t immediately reply to an e-
mail or phone call seeking comment.
Omnicare’s shares are trading at record levels, in part
after the U.S. Supreme Court last month gave the nursing-home
pharmacy a partial victory in a ruling over investor lawsuits.
Omnicare is being sued by investors who allege it misled
purchasers of its shares by saying it was operating within the
law in documents filed with regulators. A federal appeals court
ruling would have required Omnicare to defend against the
lawsuit. The Supreme Court decision sends the case back to the
lower courts to assess whether Omnicare omitted any material
facts in its filing.
For Related News and Information:
Investor Suits Limited by Top U.S. Court in Omnicare Case
UnitedHealth Pays $12.8 Billion for Catamaran’s Drug Clients
Busiest Day for Health-Care Deals Is Set to Spawn More: Real M&A
Top Stories:TOP<GO>
To contact the reporters on this story:
Ed Hammond in New York at +1-212-617-1963 or
ehammond12@bloomberg.net;
Jeffrey McCracken in New York at +1-212-617-8517 or
jmccracken3@bloomberg.net;
Matthew Campbell in London at +44-20-3525-8684 or
mcampbell39@bloomberg.net
To contact the editors responsible for this story:
Mohammed Hadi at +1-212-617-2914 or
mhadi1@bloomberg.net
Crayton Harrison
2015-04-22 19:25:30.37 GMT
By Ed Hammond, Jeffrey McCracken and Matthew Campbell
(Bloomberg) -- Omnicare Inc., a supplier of drugs and
services to nursing homes, is exploring a sale, people with
knowledge of the matter said.
The company, with a market value of about $7.9 billion, is
working with financial advisers as it seeks buyers, the people
said. The sale process is at an early stage and its possible no
deal will be reached, the people cautioned.
Omnicare delivers drugs and helps senior living facilities
manage their residents’ medications. Demand for such pharmacy
services is rising as patients, insurers and companies look for
ways to manage costs with drug prices on the rise.
A spokesman for Omnicare didn’t immediately reply to an e-
mail or phone call seeking comment.
Omnicare’s shares are trading at record levels, in part
after the U.S. Supreme Court last month gave the nursing-home
pharmacy a partial victory in a ruling over investor lawsuits.
Omnicare is being sued by investors who allege it misled
purchasers of its shares by saying it was operating within the
law in documents filed with regulators. A federal appeals court
ruling would have required Omnicare to defend against the
lawsuit. The Supreme Court decision sends the case back to the
lower courts to assess whether Omnicare omitted any material
facts in its filing.
For Related News and Information:
Investor Suits Limited by Top U.S. Court in Omnicare Case
UnitedHealth Pays $12.8 Billion for Catamaran’s Drug Clients
Busiest Day for Health-Care Deals Is Set to Spawn More: Real M&A
Top Stories:TOP<GO>
To contact the reporters on this story:
Ed Hammond in New York at +1-212-617-1963 or
ehammond12@bloomberg.net;
Jeffrey McCracken in New York at +1-212-617-8517 or
jmccracken3@bloomberg.net;
Matthew Campbell in London at +44-20-3525-8684 or
mcampbell39@bloomberg.net
To contact the editors responsible for this story:
Mohammed Hadi at +1-212-617-2914 or
mhadi1@bloomberg.net
Crayton Harrison