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Tampa firm announces merger, plans to go public
By KRIS HUNDLEY
Published August 7, 2006
PharMerica, an institutional pharmacy headquartered in Tampa, will merge with a competitor and be spun off from its corporate parent as a public company early next year, according to an announcement made this morning. AmerisourceBergen Corp., Pharmerica's parent, and Kindred Healthcare Inc. of Louisville said they will combine their institutional pharmacies to create a new independent company that will be the nation’s second largest pharmacy serving nursing homes and assisted living facilities. The new company, which has not yet been named, is expected to have annual revenues of about $2-billion, with 119 pharmacies in 41 states. The top executives of both AmerisourceBergen and Kindred were on their way to visit PharMerica’s headquarters Monday afternoon to discuss the merger and spin-off plans with the institutional pharmacy's 350 workers in the Tampa area. (PMSI, AmeriSourceBergen's workers' compensation business, which has about 300 workers in Tampa, will not be part of the merger.) R. David Yost, chief executive of AmerisourceBergen, said headquarters had not yet been selected for the new entity.
“It's kind of a good time to put in a plug," he said. “If you know anyone who can give us a tax subsidy, put them in touch with us.’’
[Last modified August 7, 2006, 12:51:31]
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