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Recent Transactions
Omnicare, Inc. acquires Advanced Care Scripts, Inc.
Omnicare, Inc. (NYSE:OCR - News), one of the nation’s leading providers of pharmaceutical care for the elderly, today announced the acquisition of specialty pharmaceutical services provider, Advanced Care Scripts, Inc.
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Based in Orlando, Florida, Advanced Care Scripts provides both specialty pharmacy and product support services for the pharmaceutical and biotechnology industries. Its specialty pharmacy operations dispense high-cost oral and injectable medications directly to patients and provide a range of related clinical and administrative services. Its product support services division provides pharmaceutical and biotechnology companies with a range of services, including reimbursement support, compliance monitoring, patient assistance programs and data management. Advanced Care Scripts’ business is focused currently on disease states within neurology and oncology.
Based on the quarter ended March 31, 2008, Advanced Care Scripts’ revenues are running at an annualized rate of approximately $212 million. The transaction is expected to be modestly accretive to Omnicare’s earnings in 2008, with accretion expected to increase in 2009 and beyond.
Transaction: Sale of company to Omnicare, Inc. (NYSE:OCR).
Provident Healthcare Partners role: Initiated and structured this transaction, conducted the negotiations, and acted as exclusive financial advisor to Advanced Care Scripts, Inc.