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