PharMerica

Last updated
PharMerica
Type Private
Industry
Headquarters
Louisville, Kentucky
,
U.S.
Area served
United States
Parent Kohlberg Kravis Roberts

PharMerica is a Fortune 1000 company formed in January 2007 from the merger of Kindred Healthcare's pharmacy business with a subsidiary of AmerisourceBergen. [1]

Contents

The company is headquartered in Louisville, Kentucky, and operates a major customer support center in Tampa, Florida. [2]

Overview

PharMerica's main clients are senior living communities, nursing facilities, public health organizations and post-acute care organizations. [3] Its affiliates are Pharmacy Alternatives, PropacPayless, ChemRX, and CIPRx. [4] [5] [6] [7]

The company is the second largest in the institutional pharmacy services market, with revenues of $1.9 billion and a customer base of 330,000 "beds" in 41 U.S. states.

In August 2011, pharmacy services provider Omnicare made a bid of $457 million for all outstanding shares of PharMerica. [8] [9] The Federal Trade Commission sued Omnicare to block the deal on the basis that the FTC believed the acquisition would lead to higher drug prices. [10] [11] In February 2012, Omnicare allowed its offer to the shareholders of PharMerica to expire. [12] [13]

In August 2017, CNBC reported that PharMerica was to be acquired by KKR, in a deal worth $1.4 billion, including debt. [14] [15] [16] [17]

Units

The company has several departments:

Corporate Affairs

PharMerica Notifies Individuals of Privacy Incident - On March 14, 2023, PharMerica and its parent company, BrightSpring Health Services, Inc., learned of suspicious activity on their computer network. Upon discovering the incident, PharMerica promptly began an internal investigation and engaged cybersecurity experts to investigate and secure its computer systems [18] The data breach affected approximately 6 million people and included names, DOBs, and SSNs. [19]

Related Research Articles

<span class="mw-page-title-main">Alliance Healthcare</span> European health products distributor

Alliance Healthcare, formerly Alliance UniChem, is a wholesaler, distributer and retailer of pharmaceutical, surgical, medical, and healthcare products throughout Europe. The company supplies more than 110,000 pharmacies, doctors, health centres, and hospitals from over 288 distribution centres in 11 countries.

<span class="mw-page-title-main">Cardinal Health</span> American multinational health care services company

Cardinal Health, Inc. is an American multinational health care services company, and the 14th highest revenue generating company in the United States. Headquartered in Dublin, Ohio, the company specializes in the distribution of pharmaceuticals and medical products, serving more than 100,000 locations. The company also manufactures medical and surgical products, including gloves, surgical apparel, and fluid management products. In addition, it operates one of the largest networks of radiopharmacies in the U.S. Cardinal Health provides medical products to over 75 percent of hospitals in the United States.

Cencora, Inc., formerly known as AmerisourceBergen, is an American drug wholesale company that was formed by the merger of Bergen Brunswig and AmeriSource in 2001.

UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota. Offering insurance services under UnitedHealthcare and healthcare products under Optum, it is the world's eleventh-largest company by revenue and the largest healthcare company by revenue, and the largest insurance company by net premiums. Optum and UnitedHealthcare had roughly equal earnings from operations in 2022.

<span class="mw-page-title-main">Alliance Boots</span> Pharmaceutical company

Alliance Boots was a multinational pharmacy-led health and beauty group with corporate headquarters in Bern, Switzerland and operational headquarters in Nottingham and Weybridge, United Kingdom.

Longs Drugs is an American chain owned by parent company CVS Health with approximately 70 drugstores throughout the state of Hawaii and formerly in the Continental US.

Express Scripts Holding Company is a pharmacy benefit management (PBM) organization. In 2017 it was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management (PBM) organization in the United States. Express Scripts had 2016 revenues of $100.752 billion. Since December 20, 2018, the company has been a direct subsidiary of Bloomfield, Connecticut-based Cigna.

IMS Health was an American company that provided information, services and technology for the healthcare industry. IMS stood for Intercontinental Medical Statistics. It was the largest vendor of U.S. physician prescribing data. IMS Health was founded in 1954 by Bill Frohlich and David Dubow with Arthur Sackler having a hidden ownership stake. In 2010, IMS Health was taken private by TPG Capital, CPP Investment Board and Leonard Green & Partners. The company went public on April 4, 2014, and began trading on the NYSE under the symbol IMS. IMS Health was headquartered in Danbury, Connecticut.

<span class="mw-page-title-main">Omnicare</span> American health care company

Omnicare is an American company working in the health-care industry. It was established in April 1981 as a spinoff of healthcare businesses from Chemed and W. R. Grace and Company. It is currently a pharmacy specializing in nursing homes. In 2015, Omnicare was acquired by CVS Health.

NMC Health is a healthcare chain and distribution business in the United Arab Emirates (UAE). The company is headquartered in Abu Dhabi and has branch offices in Dubai, Ajman, Al Ain and Northern Emirates. The company operates and manages over 200 facilities in 19 countries.

IQVIA, formerly Quintiles and IMS Health, Inc., is an American Fortune 500 and S&P 500 multinational company serving the combined industries of health information technology and clinical research. IQVIA is a provider of biopharmaceutical development, professional consulting and commercial outsourcing services, focused primarily on Phase I-IV clinical trials and associated laboratory and analytical services, including strategy and management consulting services. It has a network of more than 88,000 employees in more than 100 countries and a market capitalization of US$49 billion as of August 2021. As of 2023, IQVIA was reported to be one of the world's largest contract research organizations (CRO).

CVS Health Corporation is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company is the world's largest healthcare company, and its headquarters are in Woonsocket, Rhode Island.

Genesis HealthCare is a provider of short-term post-acute, rehabilitation, skilled nursing and long-term care services. As of January 2017, Genesis operates approximately 500 skilled nursing centers and assisted/senior living residences in 34 states across the United States. Genesis also supplies rehabilitation therapy to approximately 1,700 healthcare providers in 45 states and the District of Columbia. Genesis has approximately 80,000 employees. Genesis HealthCare is headquartered in Kennett Square, Pennsylvania.

Veradigm is a publicly traded American company that provides physician practices, hospitals, and other healthcare providers with practice management and electronic health record (EHR) technology. Veradigm also provides products for patient engagement and care coordination, as well as financial and analytics technology. The company has more than 180,000 physician users and has products in 2,700 hospitals and 13,000 extended care organizations. The company formally changed its name from Allscripts to Veradigm in January 2023.

Catamaran Corporation is the former name of a company that now operates within UnitedHealth Group's OptumRX division. It sells pharmacy benefit management and medical record keeping services to businesses in the United States and to a broad client portfolio, including health plans and employers. Working independently of the government and insurance companies allowed it to operate as a third party verifier; the RxCLAIM online claim processing system allowed for prescription drug claims to be processed online if the customer lived in and filled his/her prescription in the United States. SXC had three separate but interrelated business segments which dealt with prescription drug programs. For 2013, 23% of company revenue came from Cigna Corporation.

Change Healthcare is a provider of revenue and payment cycle management that connects payers, providers, and patients within the U.S. healthcare system. The name also refers to a company founded in 2007 which subsequently became part of the current conglomerate. The company operates the largest financial and administrative information exchange in the United States.

Walgreens Boots Alliance, Inc. (WBA) is an American multinational holding company headquartered in Deerfield, Illinois, which owns the retail pharmacy chains Walgreens in the US and Boots in the UK, as well as several pharmaceutical manufacturing and distribution companies. The company was formed on December 31, 2014, after Walgreens purchased the 55% stake in Alliance Boots that it did not already own. The total price of the acquisition was $4.9 billion in cash and 144.3 million common shares with fair value of $10.7 billion. Walgreens had previously purchased 45% of the company for $4.0 billion and 83.4 million common shares in August 2012 with an option to purchase the remaining shares within three years. Walgreens became a subsidiary of the newly created company after the transactions were completed. As of 2022, Walgreens Boots Alliance is ranked #18 on the Fortune 500 rankings of the largest United States corporations by total revenue.

Veritas Capital Fund Management, L.L.C. is a New York–based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The firm's first fund closed in 1998. They closed an eighth flagship fund in 2022; in all, Veritas has approximately $45 billion of assets under management. Veritas is led by Ramzi Musallam, the firm's Chief Executive Officer and Managing Partner.

Optum, Inc. is an American healthcare services provider with business interests encompassing technology and related services, pharmacy care services and various direct healthcare services. It has been a subsidiary of UnitedHealth Group since 2011. UHG formed Optum by merging its existing pharmacy and care delivery services into the single Optum brand, comprising three main businesses: OptumHealth, OptumInsight and OptumRx. In 2017, Optum accounted for 44 percent of UnitedHealth Group's profits and as of 2019, Optum's revenues have surpassed $100 billion. Also in early 2019, Optum gained significant media attention regarding a trade secrets lawsuit that the company filed against former executive David William Smith, after Smith left Optum to join Haven, the joint healthcare venture of Amazon, JPMorgan Chase, and Berkshire Hathaway.

1Life Healthcare, Inc., is a San Francisco–based chain of primary healthcare clinics. One Medical is a membership-based primary care service with in-person care and online resources, including a mobile app. In February 2023, it was acquired by Amazon.

References

  1. ↑ "AmerisourceBergen and Kindred Healthcare Form PharMerica". American Society of Consultant Pharmacists. 2007-03-01. Retrieved 2007-03-01.
  2. ↑ Howington, Patrick (2007-01-22). "PharMerica to locate headquarters here". The Courier-Journal . Retrieved 2007-01-29.
  3. ↑ "Pharmerica Corporation | Company Profile | Vault.com". Vault. Retrieved 2021-05-11.
  4. ↑ "Pharmacy Alternatives Closed Door IDD Pharmacy Services". Pharmacy Alternatives. Retrieved 2021-05-11.
  5. ↑ "PropacPayless Pharmacy". www.propacpayless.com. Retrieved 2021-05-11.
  6. ↑ Connole, Patrick. "PharMerica's PropacPayless Brings Local Focus Aligned With National Presence". www.providermagazine.com. Retrieved 2021-05-11.
  7. ↑ "Long Beach provider to healthcare companies plans move to Uniondale, taking 125 jobs with it". Herald Community Newspapers. 2 June 2020. Retrieved 2021-05-11.
  8. ↑ Fein, Adam J.; Ph.D. "Omnicare Bids for PharMerica to Surf the Generic Wave" . Retrieved 2021-05-11.
  9. ↑ "After Omnicare deal, all eyes turn to PharMerica". McKnight's Long Term Care News. 2015-07-06. Retrieved 2021-05-11.
  10. ↑ "Omnicare Rises after Analyst Upgrades Shares". Bloomberg BusinessWeek. Archived from the original on July 24, 2012. Retrieved 5 April 2012.
  11. ↑ "FTC blocks Omnicare acquisition of PharMerica". Drug Topics. 2 February 2012. Retrieved 2021-05-11.
  12. ↑ "Omnicare Announces Expiration of Its Tender Offer to Acquire PharMerica". Reuters. Archived from the original on 24 February 2012. Retrieved 5 April 2012.
  13. ↑ "Omnicare drops hostile pursuit of PharMerica". Reuters. 2012-02-21. Retrieved 2021-05-11.
  14. ↑ CNBC (2017-08-02). "KKR to take PharMerica private in $1.4 billion deal". CNBC. Retrieved 2017-11-22.
  15. ↑ "BrightSpring and PharMerica officially merge to become a leading provider of health and pharmacy services". BrightSpring Health Services. 2019-03-06. Retrieved 2021-05-11.
  16. ↑ Holly, Robert (2019-03-06). "BrightSpring, PharMerica Merge in $1.32 Billion Deal". Home Health Care News. Retrieved 2021-05-11.
  17. ↑ "$1.4 billion PharMerica acquisition by KKR complete; growth in assisted living arena expected". McKnight's Senior Living. 2017-12-08. Retrieved 2021-05-11.
  18. ↑ "PharMerica Notifies Individuals of Privacy Incident". PharMerica. 2023-05-20.
  19. ↑ "Hackers steal the SSN of nearly 6 million people". Panda Media Center. 2023-05-20.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.