Omnicell, Inc. announced that it was acquiring ReCept Holdings, Inc. for a total aggregate cash consideration of $100 million, subject to customary adjustments. Founded in 1992, Omnicell is a leading medication management solutions and adherence tools for health systems and pharmacies. Through a combination of automation, intelligence and technology-enabled services run by a cloud-data platform, Omnicell provides more efficient medicine management services. More than 7,000 facilities worldwide and 60,000 institutional and retail pharmacies across North America and the United Kingdom use Omnicell’s technology to help reduce costly hospital readmissions.
ReCept Holdings is a leading provider of specialty pharmacy management services for health systems, clinics, and physician groups based in Grapevine, Texas. Since 1978, ReCept has been a respected partner in the industry focusing on quality care. ReCept has developed a proprietary and turnkey implementation and management platform, utilizing the industry’s best practices to help pharmacies achieve their full potential. For the 12 months that ended September 30, 2021, ReCept recorded roughly $24 million of total unaudited revenue.
The ReCept acquisition will add solutions for specialty pharmacy management services, including specialty pharmacy expertise and operational capabilities, human resources, workflow management, payor access assistance, and other aspects of managing a specialty pharmacy, to Omnicell’s broader medication management infrastructure.
Carmine DeNardo, President and CEO of ReCept said, “By joining with Omnicell we look forward to maximizing the benefits of our managed services capabilities as part of a broader, intelligent infrastructure that will deliver value for our pharmacy partners.”
This is Omnicell’s second deal of 2021, where it previously acquired FDS Amplicare, a pharmacy software solutions provider, for $29 million in June 2021.
Sidley Austin LLP served as legal counsel to Omnicell. Gibson, Dunn & Crutcher LLP served as legal counsel to ReCept.
