Omnicare, Inc. a leading provider of pharmaceutical care for the elderly, today announced it has acquired Continuing Care Rx (CCRx), a privately owned institutional pharmacy provider based in Harrisburg, Pennsylvania. Financial terms of the agreement were not disclosed.
CCRx provides comprehensive pharmacy services to residents of long-term care facilities and other chronic settings in Florida, Illinois, Maryland, New Hampshire, New York, North Carolina, Pennsylvania, and Virginia. CCRx’s revenues for the 12 months ended June 30, 2010 were $170 million. It currently services long-term-care facilities representing approximately 32,000 licensed beds, as well as correctional facilities representing an additional 11,000 beds.
James D. Shelton, Interim President and CEO of Omnicare, said, “We are excited to welcome Continuing Care Rx to the Omnicare family. CCRx is an experienced, cost-effective provider of pharmaceutical services that has built a strong business over the past several years. We believe this transaction brings together two organizations that are committed to providing the highest level of care for the frail elderly.”
Thomas A. Trite, Chief Executive Officer of CCRx, said, “Omnicare is the leading company in our industry, with unparalleled capabilities and resources. As part of the Omnicare network, we believe our customers will benefit from an even greater range of services, while continuing to receive the same high level of service they have come to expect from CCRx.”
Omnicare, Inc., a Fortune 500 company based in Covington, Kentucky, is a leading provider of pharmaceutical care for the elderly. Omnicare serves residents in long-term care facilities, chronic care and other settings comprising approximately 1.4 million beds in 47 states, the District of Columbia and Canada. Omnicare is the largest U.S. provider of professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other institutional healthcare providers as well as for hospice patients in homecare and other settings.
Omnicare’s pharmacy services also include distribution and patient assistance services for specialty pharmaceuticals. Omnicare offers clinical research services for the pharmaceutical and biotechnology industries in 32 countries worldwide.