Omnicare's Strategic Acquisition Boosts Pharmacy Operations

Omnicare, LLC, a CVS Health subsidiary, announced that the U.S. Bankruptcy Court for the Northern District of Texas approved the sale of its business to GenieRx Holdings LLC, a joint venture between Milrose Capital LLC and Integro Asset Management LLC. The strategic move comes after a rigorous sale process aiming to boost Omnicare's operational capabilities.

David Azzolina, President of Omnicare, stressed the company's commitment to delivering dependable pharmacy services while ensuring operational transparency. Omnicare plans to strengthen its service offering through disciplined operations, aligning with clinical best practices and providing clients with data-driven insights and transparent pricing models.

Rowan Farber, CEO of Integro Healthcare Services, reiterated GenieRx’s commitment to preserving Omnicare’s trusted reputation among skilled nursing and assisted living facilities. The acquisition seeks to leverage Omnicare’s established industry presence and clinical expertise to enhance service delivery.

The transaction, projected to conclude later this year, is subject to regulatory approvals and customary conditions. Omnicare remains focused on delivering safe, reliable pharmacy services with a compliance-oriented approach, continuing to support high-acuity residents and enhancing communication and billing management strategies.

Omnicare's legal counsel includes Jenner & Block LLP and Haynes Boone, with Houlihan Lokey as the investment banker and Alvarez & Marsal as the restructuring advisor. More details on the restructuring process are accessible at www.OmnicareRestructuring.com, with court-related documents available through Omnicare’s claims agent, Stretto. For broader organizational insights, visit www.omnicare.com.