July 17, 2008

Omnicare Acquires Advanced Care Scripts

Omnicare, a provider of pharmaceutical care for the elderly, has acquired Advanced Care Scripts, a provider of specialty pharmaceutical services.

The transaction is expected to be modestly accretive to Omnicare's earnings in 2008, with accretion expected to increase in 2009 and beyond.

Joel Gemunder, president and CEO of Omnicare, said: "The acquisition of Advanced Care Scripts is squarely in line with our strategy of broadening Omnicare's platform through the addition of high-growth businesses as it enhances Omnicare's position in specialty pharmaceutical services - one of the fastest growing sectors in pharmaceutical care."