Nov 08, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- PharMerica
Corporation, an institutional pharmacy services company, has acquired
substantially all of the assets of Chem Rx Corporation, a long-term care
pharmacy company. Both the companies are based in the US.
Update on October 15, 2010:
PharMerica has announced that the waiting period under the Hart-Scott-Rodino Act
applicable to the bid to acquire substantially all of the assets of Chem Rx.
Announcement (September 27, 2010):
PharMerica has agreed to acquire all of the assets of Chem Rx for $70.6 million.
The transaction is expected to close during the fourth quarter of 2010.
Brunswick Group LLP is acting as PR advisor to Chem Rx.
Deal Value (US$ Million) 70.6
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2010-11-04
Deal Participants
Target (Company) Chem Rx Corporation - Assets - US
Acquirer (Company) PharMerica Corporation
Vendor (Company) Chem Rx Corporation
Deal Rationale
The acquisition will allow PharMerica to enter into the New York and New Jersey
markets and expand its national footprint.
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Source: Comtex Wall Street News
