AmerisourceBergen announced Tuesday that it has signed a $2.5 billion cash deal to buy PharMEDium Healthcare Holdings, which provides compounded sterile preparations to acute-care U.S. hospitals.
The transaction, which is subject to regulatory review, is expected to close in the first quarter of its fiscal 2016, which ends Dec. 31.
PharMEDium, which is headquartered in Lake Forest, Ill., and owns four compounding facilities serving 3,000 hospitals across the country, will become a part of AmerisourceBergen Drug Corp.
“The acquisition of PharMEDium strengthens our core business and meaningfully expands our innovative service offerings for health systems,” said Steven Collis, AmerisourceBergen CEO in a statement.
The acquisition is expected to be $0.22 to $0.26 accretive to the Company's adjusted earnings per share in fiscal 2016 on a net basis.
“We are excited about this transaction, which brings together two great brands built on the same strong foundation of patient safety and quality, service excellence and value to our customers,” said William Spalding, PharMEDium's CEO.
PharMEDium's compounded sterile preparations carry barcodes that are scanned to help reduce the potential for medication errors.
AmerisourceBergen is headquartered in Valley Forge, Pa., and reports over $120 billion in annual revenue.