PharMerica Corporation, a leading provider of institutional and specialty pharmacy services, recently acquired two pharmacies that generated at least $100 million of annualized sales, in aggregate, this year.
PharMerica’s acquisitions for 2015 included Integrated Pharmacy Network (IPN), a long-term care pharmacy based in Midland, Mich., and Alternacare Infusion Pharmacy, a specialty home-infusion service provider in the greater Kansas City metropolitan area. Terms of these transactions have not yet been released.
“We are pleased to have completed our annual objective for value-enhancing acquisitions,” PharMerica Corporation’s CEO Greg Weishar said. “These transactions are consistent with our strategy to bolster share in the long-term care market and to expand our presence in the specialty home infusion industry.”
The company’s extensive customer base is comprised primarily of institutional health care providers, such as high-functioning nursing facilities, assisted living facilities, hospitals, individuals receiving in-home nursing care and patients with cancer.
“We look forward to working with management of both companies to extend their track records of outstanding customer service,” Weishar said.