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Omnicare Acquires Fellow Elder-Care Drug Provider

DOW JONES NEWSWIRES Omnicare Inc. (OCR) has acquired closely held institutional pharmacy provider Continuing Care Rx as Omnicare looks to expand its business amid recent performance woes and a management changes. Financial terms of the deal weren't disclosed. Harrisburg, Pa.-based Continuing Care, serves more than 40,000 beds at long-term-care facilities in eight states including Florida, Illinois and Maryland. It had revenue about $170 million for the year ended June 30. The acquisition came after an abrupt departure of Omnicare's former chief executive last month. A few days later, the provider of drugs to nursing homes and assisted-living centers reported a steep decline in its second-quarter profit and revenue decreased on lower selling volumes and fewer beds served. Continuing Care "is an experienced, cost-effective provider of pharmaceutical services that has built a strong business over the past several years," said James Shelton, Omnicare's interim president and CEO. Its stock closed at $19.20 Tuesday and didn't trade premarket. Shares have fallen 21% this year. -By Jodi Xu, Dow Jones Newswires; 212-416-3037; jodi.xu@dowjones.com;

Stock News for Omnicare (OCR)
DateTimeHeadline
05/22/201520:00:00SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into...
05/22/201517:28:30Current Report Filing (8-k)
05/22/201517:26:20Additional Proxy Soliciting Materials (definitive) (defa14a)
05/22/201517:10:19Additional Proxy Soliciting Materials (definitive) (defa14a)
05/22/201510:57:00SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation...
05/22/201510:27:00Finkelstein Thompson LLP Investigates Potentially Unfair Buyout...
05/22/201510:08:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders...
05/21/201520:30:46For CVS, Big Bet On Pricey Medicines
05/21/201517:10:00WeissLaw LLP: Omnicare, Inc. Sale Under Legal Investigation
05/21/201516:49:40Additional Proxy Soliciting Materials (definitive) (defa14a)
05/21/201516:45:20Additional Proxy Soliciting Materials (definitive) (defa14a)
05/21/201516:43:07Current Report Filing (8-k)
05/21/201516:39:40Additional Proxy Soliciting Materials (definitive) (defa14a)
05/21/201516:05:43Omnicare Declares Quarterly Cash Dividend
05/21/201514:40:00Robbins Arroyo LLP: Acquisition of Omnicare Inc. (OCR) by CVS...
05/21/201514:09:00Harwood Feffer LLP Announces Investigation of Omnicare, Inc.
05/21/201513:52:00OMNICARE, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces...
05/21/201513:22:00INVESTOR ALERT: The Law Offices of Vincent Wong Launches an Investigation...
05/21/201512:56:00OMNICARE INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe...
05/21/201510:23:08CVS to Buy Omnicare For $12.7 Billion--5th Update

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