|[July 01, 2014]
Amerita, a Subsidiary of PharMerica, Expands into Arizona Through the Acquisition of Altius Healthcare
LOUISVILLE, Ky. --(Business Wire)--
Amerita, Inc., a wholly owned subsidiary of PharMerica Corporation
(NYSE:PMC), announced today that it has acquired Altius Healthcare.
Financial terms of the transaction were not disclosed.
Altius provides home infusion and specialty infusion services from two
locations in Prescott and Tucson, Arizona. The company treats patients
at home, doctor's offices, assisted living facilities, ambulatory
infusion centers and other non-hospital settings.
Greg Weishar, PharMerica's Chief Executive Officer, said, "Acquiring
Altius makes strategic sense for both Amerita and PharMerica. The
acquisition advances Amerita's plan to become the premier specialty
infusion service provider in America and solidifies PharMerica's already
strong position as a leading national provider of institutional,
specialty home infusion, and oncology pharmacy services. We are pleased
to have reached this agreement and to continue growing through accretive
acquisitions that create further value for PharMerica shareholders."
Jim Glynn, Chief Executive Officer of Amerita, said, "Altius has long
been a quality provider of infusion servicesin Northern and Southern
Arizona. We plan to continue Altius's existing operations and expand its
service offering by building local specialty infusion capabilities in
the Phoenix market, Arizona's largest MSA. Our goal is to build a
responsive service model that will enable Amerita to exceed the
expectations of referral sources and to provide quality care for
patients throughout the entire state of Arizona."
Kevin Nestrick, the founder and CEO of Altius Healthcare said, "The sale
of Altius Healthcare to Amerita is a great opportunity for the company
as it will allow us to better compete in the healthcare marketplace.
Amerita has the size and scale needed to win on a national level with a
local network that our patients can count on. Amerita's culture fits
well with our business model where patient care and customer service are
paramount. We expect a seamless transition and are excited about the
many benefits of this transaction for our patients, employees and other
Amerita, Inc. is a wholly owned subsidiary of PharMerica. The company
provides complex pharmaceutical products and clinical services to
patients outside the hospital. The market is expanding through a growing
bio-pharmaceutical pipeline of infusible and injectable medications, an
aging population that requires additional healthcare services and the
country's need to find more affordable care alternatives.
PharMerica Corporation is a leading institutional pharmacy services
company that services healthcare facilities in the United States,
provides pharmacy management services to hospitals, specialty infusion
services to patients outside a hospital setting, and offers the only
national oncology pharmacy and care management platform in the United
States . PharMerica operates 95 institutional pharmacies, 14 specialty
infusion centers and 5 specialty oncology pharmacies 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.
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