LOUISVILLE, Ky.--(BUSINESS WIRE)--Amerita, Inc., a wholly owned subsidiary of PharMerica Corporation (NYSE:PMC), today announced that it has completed the acquisition of Coastal Pharmaceutical Services Corporation, d/b/a InfusionRx (“InfusionRx”). Financial terms of the transaction were not disclosed.
InfusionRx provides a complete range of home infusion and pharmacy services, including home infusion therapies, pain management, nutritional therapies, and specialty pharmacy services. The company serves patients in their homes, doctors’ offices, and other non-hospital settings.
“This is an important milestone for both Amerita and PharMerica,” said Greg Weishar, PharMerica’s Chief Executive Officer. “InfusionRx advances Amerita’s market breadth and is consistent with our strategy to drive growth through acquisitions. We will remain disciplined and opportunistic in our pursuit of acquisitions to drive shareholder value.”
Jim Glynn, Chief Executive Officer of Amerita, said, “We are pleased to welcome InfusionRx to our company. InfusionRx is a leader in Southern California, and InfusionRx will draw on Amerita’s scale and operational expertise to further bolster its specialty infusion capabilities in the greater Los Angeles area, the country’s second largest market. We will continue to provide exemplary service across our growing service platform to exceed the expectations of our customers and patients.”
May Kuo Barry, a founder of InfusionRx said, “In Amerita, we have found an ideal partner. Like InfusionRx, Amerita adheres to the highest standards for patient care and delivers a superior pharmacy experience. We look forward to working with Amerita to ensure a smooth transition and to realizing the significant benefits that this transaction will bring to our patients, providers and employees.”
Amerita, Inc. is a wholly owned subsidiary of PharMerica. The company provides complex pharmaceutical products and clinical services to patients outside the hospital. The market is expanding through a growing bio-pharmaceutical pipeline of infusible and injectable medications, an aging population that requires additional healthcare services and the country’s need to find more affordable care alternatives.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company’s current estimates, expectations and projections about its future results, performance, prospects and opportunities. Forward-looking statements include, among other matters, those relating to the Company's expectations with respect to the InfusionRx acquisition, the Company’s potential to bolster its specialty infusion capabilities in the Los Angeles market, the Company’s ability to realize significant benefits that the InfusionRx acquisition could bring to its patients, providers and employees, InfusionRx’s future performance, the Company’s strategy to drive growth through acquisitions, the Company’s intent to remain disciplined and opportunistic in its pursuit of acquisitions to drive shareholder value, the Company’s intent to continue to provide exemplary service across its growing service platform, Amerita’s adherence to the highest standards for patient care and delivery of a superior pharmacy experience, and the expectation that the market Amerita serves continues to grow. Forward-looking statements include statements that are not historical facts and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “plan,” “may,” “should,” “will,” “would,” “project” and similar expressions. These forward-looking statements are based upon information currently available to us and are subject to a number of risks, uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Important factors that could cause the Company’s actual results to differ materially from the results referred to in the forward-looking statements we make in this press release include the Company’s ability to successfully execute, manage and integrate the InfusionRx acquisition, the Company’s ability to continue to execute its strategic initiatives, and those included in the Risk Factors section set forth in the Company’s Annual Report on Form 10-K filed with the SEC and in other reports, including Quarterly Reports on Form 10-Q filed with the SEC by the Company.
You are cautioned not to place undue reliance on any forward-looking statements, all of which speak only as of the date of this press release. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. All subsequent written and oral forward-looking statements attributable to us or any person acting on the Company’s behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this press release and in the Risk Factors section set forth in the Company’s Annual Report on Form 10-K filed with the SEC and in other reports filed with the SEC by the Company.
PharMerica Corporation is a leading institutional pharmacy services company that services healthcare facilities in the United States, provides pharmacy management services to hospitals, specialty infusion services to patients outside a hospital setting, and offers the only national oncology pharmacy and care management platform in the United States. PharMerica operates 98 institutional pharmacies, 15 specialty infusion centers and 5 specialty oncology pharmacies in 45 states. PharMerica’s customers are institutional healthcare providers, such as skilled nursing facilities, nursing centers, assisted living facilities, hospitals, individuals receiving in-home care and other long-term alternative care providers.