PharMerica (PMC) Buys BGS Pharmacy Partners, Forecasts Solid 2014

Shares of PharMerica Corporation (PMC) closed at a new all-time high, up +5.52 or +27.07 percent on Friday, after the company announced it had completed its acquisition of all of the outstanding stock of BGS Pharmacy Partners in an all-cash deal on December 31st, 2013. Financial terms of the acquisition were not released; however, PharMerica expects the addition of BGS will be accretive to 2014 earnings.

The company also updated its fiscal year 2013 earnings guidance on Friday, slightly beating analyst estimates.
Louisville, Kentucky based PharMerica Corporation is a United States pharmacy services company, servicing healthcare centers and providing management pharmacy services to hospitals. The company manages 95 institutional pharmacies in 44 states and specializes in home infusion and oncology services. PharMerica offers the only national oncology pharmacy in the United States. Grapevine, Texas based BGS Pharmacy Partners is a privately held provider of pharmacy services to long term care facilities, as well as other customers and operates primarily in the Las Vegas and Reno, Nevada areas, and in Salt Lake City, Utah with additional locations in Boise, Idaho and Colorado Springs, Colorado. PharMerica Corporation's Chief Executive Officer, Greg Weishar stated that, â

Published on Jan 13, 2014
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

Copyrighted 2016. Content published with author's permission.

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