KKR’s PharMerica Makes Its First Deal

KKR’s PharMerica Makes Its First Deal

In late May, specialty pharmacy company PharMerica Corporation announced its first acquisition since being acquired by KKR & Co. (NYSE: KKR), with a minority investment from Walgreens Boots Alliance (NASDAQ: WBA), in August 2017. The company priovides institutional and community-based pharmacy services in the United States. When KKR took it private for $1.3 billion, it had trailing-12 month revenue of approximately $2.4 billion and EBITDA of $138 million. In December 2018, KKR announced a $1.3 billion deal for BrightSpring Health Services, then owned by Onex Corporation (ONEX.TO). BrightSpring, formerly known as ResCare, provides comprehensive home and community-based health services... Read More »
BrightSpring Merges with KKR’s PharMerica

BrightSpring Merges with KKR’s PharMerica

BrightSpring Health Services and PharMerica are merging to create a national home care business with its own pharmacy services provider under KKR & Co. (NYSE: KKR). Both companies are based in Louisville, Kentucky and will continue to operate from there. Financial terms were not disclosed. BrightSpring, formerly known as ResCare, was a portfolio company of Onex Corporation (TOR: ONEX). It provides comprehensive home and community-based health services in behavioral health, digital health, hospice and homecare to complex populations in need of specialized care. Onex acquired ResCare way back in March 2004 for $83.4 million. PharMerica is a specialty pharmacy service provider for the... Read More »
Top 10 Transactions in Q3:17

Top 10 Transactions in Q3:17

Ten of the largest deals announced in the third quarter broke the $1.0 billion mark, for a total of $29.9 billion (70% of the quarter’s total spending of $42.7 billion). The largest transaction, Gilead Sciences’ $11.9 billion acquisition of biotech firm Kite Pharma, made up 28% of the quarter’s combined total spending. KKR & Co. made three of these billion-dollar acquisitions, either directly or through portfolio companies, for a total of nearly $7.3 billion. All three targets were publicly traded companies in very discrete fields: internet healthcare source WebMD, air ambulance company American Medical Response, and the... Read More »

PharMerica Expands Its Footprint

The institutional pharmacy services company PharMerica Corporation (NYSE: PMC) moved into western New York with its acquisition of McGuire Group Pharmacy, a subsidiary of McGuire Group in Cheektowaga, New York (a suburb of Buffalo). McGuire Group operates skilled nursing facilities in western New York, Long Island and Michigan, and is selling its pharmacy division, which provides comprehensive pharmacy services to long-term care facilities and other customers in the Buffalo-Niagara Falls metropolitan area. Read More »