Omnicare, Covington, Ky., continued to buy rivals in the long-term-care pharmacy field, announcing an agreement to acquire privately held ExcelleRx, Philadelphia, for $268.75 million. ExcelleRx provides pharmacy services to about 400 hospice agencies and has annual revenue of $130 million, Omnicare said. The deal is expected to close in the third quarter, pending regulatory approval. Last week, Omnicare won its more than yearlong battle to acquire NeighborCare, Baltimore, when the company accepted a $1.8 billion buyout offer after rejecting two previous offers. As of March 31, Omnicare served about 1.1 million long-term-care beds in 47 states and Canada. -- by Joseph Mantone
Long-term-care pharmacy Omnicare to buy another rival
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